Cryptocurrency for E-commerce: Why Safex Is the Answer

Safex: Cryptocurrency for E-commerce

Somewhere out there, the perfect cryptocurrency for e-commerce exists. While you’re searching for this coin among the thousands of cryptocurrencies on the market, you might lose faith in crypto.

After all, there are only so many coins that can achieve their lofty goals.

But while many projects will eventually fade away, there are also some that will change the world. In the lucrative market of cryptocurrency for e-commerce, Safex is leading the pack.


The Safex vision

To put it briefly, Safex is:

  1. A new money supply.
  2. An improved e-commerce platform for both sellers and buyers, with an emphasis on data privacy.
  3. A better way to do international trade and avoid tariffs or sanctions.
  4. A marketplace based on blockchain and decentralization technology.
  5. A cashflow incentive for investors.

As a leading cryptocurrency for e-commerce, Safex is creating a decentralized online marketplace to facilitate both the multi-trillion-dollar e-commerce industry, as well as providing a better platform for freelance work. It will revolutionize both of these industries using blockchain and cryptocurrency technology.

Click here to read an in-depth article on why cryptocurrency is the future of e-commerce.

Safex’s purpose-built blockchain technology is what makes it the ultimate cryptocurrency for e-commerce. This makes e-commerce country-agnostic, allows a transparent supply chain, and provides decentralized data storage and low-fee cryptocurrency payments. It also creates fraud-proof systems for inventory management, accounting, and payroll. And, most importantly, it removes intermediaries who take large percentages and weaken data security.

Safex Marketplace

The import and export of goods or services is an integral part of any country’s economy. Nations cannot grow without interacting with other parts of the world. The potential for import and export business on a blockchain-based marketplace using cryptocurrency is huge.

Safex is developing a platform to cater to this very market.

The amount of counterfeiting in e-commerce has reached billions of dollars globally. Using blockchain technology like Safex’s, one can provide an audit trail and fight fake goods online. This is because blockchain effectively provides a permanent, incorruptible, and irreversible record.

Chargeback frauds, higher transaction fees, transaction time, and poor data security are some of the problems traditional e-commerce businesses face. Amazon’s sellers’ central forum is filled with users complaining of the site’s extraordinarily high fees. You don’t own your data on centralized platforms, and there are many security gaps in credit card transactions for e-commerce.

Blockchain marketplaces like Safex alter the paradigms of today’s marketplaces, where a large intermediary firm is able to control every aspect of a trade; from product listings to price discovery, product search, logistics, and the customer experience.

The decentralized e-commerce revolution that Safex is creating is about taking back control of the internet. Criminal intelligence agencies and large corporates who sell personal data to black markets should not be in charge.

YOU should own your personal data.

The Safex team

The founder of Safex is Mr. Daniel Dabek, who has been heavily involved in the cryptocurrency sector for many years. He is one of the best blockchain developers in the crypto industry and has previously worked for Maidsafe.

Here you can read an interview with Daniel Dabek.
At the OMG Commerce event in Belgrade, Serbia, Daniel spoke on why crypto is changing e-commerce:

Balkaneum, headquartered in Belgrade, Serbia, is the company responsible for developing the Safex Marketplace, as well as the Safex blockchain and cryptocurrency for e-commerce. The company has a quality team including technical, business, and economic specialists.

Here you can see the Safex team

The Chief Economist at Balkaneum, Ms. Ivana Todorovic, has extensive experience working for the Fiscal Council (an independent state body, accountable to the National Assembly of the Republic of Serbia) as an economic analyst.

Ivana Todorovic explaining the Safex emission curve

Daniel also recently had the privilege to talk about blockchain and cryptocurrency to the U.S. ambassador to Serbia and Crown Prince Alexander II Karađorđević. During the meeting, Daniel explained how important crypto — especially cryptocurrency for e-commerce — could be in the Balkans.

Daniel with Kyle Scott and Alexander II Karadjordjevic

The Safex project has become so popular in Serbia that local media outlets have even covered it on television.

Safex has also partnered with the Liberland government. Liberland is a newly formed European nation whose President is Mr. Vit Jedlicka. Liberland is wisely using blockchain and crypto technology from the very beginning to shape its nation.

Daniel in diplomatic mission for Liberland

The Safex blockchain

Unlike many other decentralized e-commerce projects, which are looking to build on the Ethereum blockchain, Safex is building its marketplace using its own SAFEX BLOCKCHAIN. That means Safex doesn’t rely on the scalability of any other blockchain.

Just as Ethereum has smart contracts, Safex is working on new technology called “commerce contracts” designed specifically for e-commerce.

Safex Blockchain
Here are some details of the Safex blockchain:
  • Ring Signature Transactions
  • Block Time — 2 Minutes
  • Block Reward — 60 Safex Cash
  • Fork — Monero
  • System — Proof of Work
  • Coins — Safex Token & Safex Cash
  • Mining — CryptoNight v8

Of course, Safex is all about privacy, but will also give users flexibility. 
You choose who can see your balance and activity with a simple view key.

This has many advantages, such as children’s accounts, auditing, and oversight. One of the other main advantages of decentralization in e-commerce is that there is no single point of entry where malicious code can be executed.

Click here to read an in-depth article on the benefits of a decentralized blockchain-based marketplace.

In this article, professional service company Accenture explains the various benefits of blockchain in e-commerce, such as:

  1. Loyalty programs.
  2. Storing product warranties.
  3. Generating legitimate product/service reviews.
  4. Making payments without intermediaries.
Business Insider India also published this informative piece:

Here’s how blockchain reduces the overall costs associated with trade.


Safex Token and Safex Cash

Safex’s cryptocurrency for e-commerce works as a two-pronged system, with both operating on the Safex blockchain.

The first is Safex Token and the second is Safex Cash. In brief, Safex Token will be used to perform certain functions on the marketplace, such as allowing people to create accounts. You can read about the token’s other functions here: A Busy Investor’s Guide To The Safex Blue Paper. The article gives specific details about Safex Cash and Safex Token, as well as the basics of the marketplace.

Safex Cash logo and Safex Token logo
NOTE: The more Safex Tokens a person holds, the more dividends that person will earn in the form of Safex Cash cryptocurrency based on the marketplace volume. In total, 5% of all marketplace fees go to Safex Token holders.
Click here to read a great article by Kiyoshi Hirohito that gives an in-depth explanation of the differences between Safex Token and Safex Cash.

In this video, Safex founder Daniel Dabek illustrates one reason why Safex is different from other cryptocurrencies on the market:

Safex solves this economic problem with Diffusion of Innovation.

You can also read the Safex Blue Paper to understand more about this economic innovation:

Safex Blue Paper

A clear path forward

Regressive politicians have at various stages called for bans on crypto. However, banning crypto is banning code (math) and therefore infringes upon the first amendment of the U.S. Constitution.

In August 2018, India’s Supreme Court ruled in favor that privacy is a fundamental right.

Forbes India also published an article entitled:

Why India needs to take data privacy seriously.

This is exactly why the Safex ecosystem is so important.
It will allow e-commerce to take place without any fear of data breaches and 100% safeguards against fraud.

Listen here what McAfee has to say about privacy coins such as Safex:

This is not only a real project, but a hidden gem in the making. Huge names in crypto are taking notice, too. John McAfee, the founder of McAfee Anti-Virus and a cyber-security specialist, has made these statements about Safex:

John McAfee has also released his own McAfee Safex Miner. Anyone with an internet connection and a PC or laptop can download the app and begin mining Safex Cash coins.

Read here how to set up McAfee One-Click Miner App

Many people in the crypto space accuse McAfee of making a lot of silly predictions. I’m not sure about other projects, but when it comes to Safex, I believe he has hit the nail on the head and chosen wisely. I say this because after doing a lot of research on Safex and following the company closely over many months. I also believe this project can seriously challenge the likes of Amazon in the future.


E-commerce needs a makeover

In the age of data mining and privacy breaches, the e-commerce industry has dirt on its hands. The amount of sensitive user information large corporations hold is frankly staggering. Just take a look at how much of our personal data companies like Amazon and Facebook keep:

Data collected by major tech companies

When you look at it like that, you can understand why data breaches are such a big problem. In this document, you can see a list of major data breaches that have taken place recently.

According to UWindsor research, monitoring tools might infiltrate e-commerce through software like “Applets”. These can monitor and collect data on individuals’ browsing habits, as well as secret information like passwords stored through cookies.

Of course, when humans used the barter system, all transactions were somewhat private and free from government interference. In e-commerce, all of that privacy has disappeared. Now more than ever we need the data privacy and cybersecurity of a private cryptocurrency for e-commerce, especially with the rise of credit card skimming and other types of e-commerce fraud.

After all, online shopping with a credit card is like giving out your bitcoin private address to whomever you buy anything from, then asking them to “pls only take $x then delete the key.

We can avoid all of these problems by using a decentralized, blockchain-based platform with a purpose-built cryptocurrency for e-commerce. That’s where Safex comes in.


Some privacy, please!

Safex’s main cryptocurrency for e-commerce — Safex Cash — is a privacy coin. Just a bit of research on the importance of privacy coins and the need for anonymity in e-commerce provides some fascinating results. You won’t believe how much crucial information you’ll manage to dig out.

As an example, here’s a study from way back in 2000. Researchers from Georgetown University found that privacy and anonymity in e-commerce are indeed extremely important.

World-famous whistleblower Edward Snowden has also come out in support of privacy cryptocurrency for e-commerce. Snowden, better than anyone, understands the dangers of mass surveillance systems.

Snowden’s tweet
Here are a few other interesting articles about the use of privacy cryptocurrency in e-commerce:

Forbes has also examined how blockchain will disrupt e-commerce when data protection laws come into effect. According to the article, this will end the monopoly of companies like Amazon, which rely heavily on the personal data of people and their browsing habits. Today, privacy-preserving cryptocurrency is the only technology that can avert our descent into future totalitarianism.

You might be wondering why we need privacy cryptocurrency for e-commerce when we already have bitcoin. While bitcoin does not directly reveal user identities, it is prone to deanonymization attacks. By observing the flow of transactions stored in the public blockchain, third parties can make accurate guesses about the identities of the individuals involved.

In the bitcoin public blockchain, anyone with access can see every transaction and the address. The wallet address is an alphanumeric ID. If the ID is linked to a person or organization, it can be a privacy threat. However, if bitcoin manages to go fully anonymous, it could be helpful for bitcoin users to safeguard their privacy/personal data.

As the European Union has stated:
“If cryptocurrency is used for criminal activities, it is not the technology that needs to be addressed but the illicit use that should be targeted.”

Click here to read more on the EU’s view on blockchain and cryptocurrency.


E-commerce, the Safex way

The two images below show how important anonymous cryptocurrency for e-commerce is. When you use platforms like Safex, your personal data will be safe from the hands of hackers.

Centralized e-commerce platforms like Amazon face problems like data breaches, which allow customers’ data to be sold on the black market.

The Economic Times of India wrote about how Amazon’s data breach recently affected many Indian customers.
The Wall Street Journal also published an article detailing how Amazon employees leaked data for bribes.

Data theft has also occurred at Alibaba. Click here to read more about how Chinese police arrested 21 people over the theft of 10 million pieces of client data, including usernames, phone numbers, and parcel tracking numbers. These were stolen from Cainiao, which provides logistical support to Alibaba’s Taobao e-commerce system.

The European Union has started an investigation into whether Amazon is unfairly using data collected about third-party sellers to make its own decisions about which products to sell. That information would give Amazon a potentially anti-competitive edge.

Amazon has:

  • A record of everything you’ve purchased/browsed.
  • Items they think you’ll like.
  • The details of credit cards you’ve used, including expired ones.
  • Your saved WiFi passwords.
  • Songs you’ve played using Amazon Music.
  • Everything you’ve ever asked Alexa.
  • The pictures and files you’ve stored on Amazon Drive.
  • Your home/work address.

Here is another great article that explains how cryptocurrency for e-commerce will take over from the likes of Amazon and Alibaba:

Blockchain: the Next Step in the Evolution of Online Shopping

Aside from data and privacy problems, legal issues can also prevent start-ups from successfully selling their products online.

This is another reason why decentralized e-commerce can greatly benefit people like entrepreneurs, proprietors, and artisans who wish to sell products or services online.

Safex did not have any ‘mafia’ support and did not try to raise huge funds with an ICO. Instead, the company has built itself sensibly from the ground up. To commemorate its success, the company released the first ever product on the Safex Marketplace: a Safex gold medallion.

You can check out the Safex Marketplace at the links below:

Since Safex didn’t originate on its own blockchain, but was based on the Omni blockchain, investors should keep the following graphic in mind:

Last, but not the least, Safex has a very active Safex Discord Channel. You can earn Safex for making valuable contributions to the channel as a community member.

P.S: I AM NOT A FINANCIAL ADVISOR, AND THIS ARTICLE IS NOT FINANCIAL ADVICE.

This story is published in Decentralized Commerce, Medium’s publication about the future of e-commerce and cryptocurrency.