Introducing the SesameOpen Network — Decentralizing Ecommerce
The emergence of ecommerce is widely credited with changing the way that suppliers sell and consumers buy. In many ways, ecommerce served to level the commerce playing field by allowing suppliers anywhere to connect with buyers anywhere. However, that promise of global commerce never fully materialized as ecommerce sales centralized into the hands of a few large online storefronts like Amazon and Alibaba. In fact, Amazon is expected to represent a whopping 43.5% of US ecommerce in 2017.
With that growth and centralization of ecommerce has come a shift from browse-centric to search-centric shopping. Consumers explore less and less as part of their shopping experience, instead relying on filters and sorting algorithms to help them make a purchase decision. The serendipity and joy of discovery have been replaced with an online catalog of millions of products and a search box.
Online Product Discovery Is Broken
In the centralized ecommerce world, consumers struggle with too much choice and suppliers struggle to be seen. There are attempts to improve the ecommerce experience via personalization and curated shopping. The personal style approach of Stitch Fix, the handmade nature of Etsy, and the social commerce enabled by Pinterest are all examples of this in action. However, these attempts have not had huge success.
To make things worse, the bigger that centralized ecommerce storefronts get, the more suppliers they attract and the worse the shopping experience becomes. The success of centralized ecommerce to reach scale creates a problem that centralized ecommerce cannot solve.
Ecommerce Decentralization Is Needed
At SesameOpen, we think that’s a pretty bleak shopping future for consumers and suppliers alike. To reach the full potential of ecommerce, storefronts need to be decentralized by allowing any place to become a marketplace. Similar to a network of physical retail stores, these local marketplaces will form a network of ecommerce storefronts that significantly expands the local retail economy.
By decentralizing ecommerce, SesameOpen seeks to ensure that suppliers, consumers, and local venues all participate and benefit equally. Local venues use their customer knowledge to curate and benefit from a shopping experience tailored to their customer base. Consumers regain the joy and excitement of a browse-centric shopping experience while being rewarded for their purchases. Suppliers get their products in front of the consumers who are best suited to buy.
Blockchain and Token Economics Make It Possible
Incentives are the key to bring local venues, consumers, and suppliers together and trust is critical in a decentralized network. The latest developments in blockchain technology and growing acceptance of tokens as an incentive for network participants make it possible to scale a decentralized commerce network quickly. SesameOpen uses blockchain functionality and a dedicated crypto token like Bitcoin or Ethereum to power transactions in a way that rewards all participants as the SesameOpen Network grows.
In the SesameOpen Network, consumers are incentivized to join the network and make product purchases from the network since their purchases will be rewarded with tokens. Product purchases will incentivize suppliers to join the network and buy tokens as their compensation to local venues for purchases of their product. Compensation from suppliers will incentivize more local venues to join the network and to attract more consumers to make product purchases. The growth of the Network drives growth of the SesameOpen crypto token which is owned by venues, suppliers, and consumers alike. As a result, all participants reap the rewards not only of the actual purchases but also of the growing network effect.
SesameOpen Makes Commerce Better
No longer do centralized online storefronts get most of the benefits from the growth of ecommerce. SesameOpen brings that value to those who are creating it — the local venues who are experts in their customers’ needs, the suppliers who make the products we love, and the consumers who spend their hard-earned money on those products.
We believe the technology is here and the time is now to fix commerce, and we’re excited to get started. Join our Telegram group to stay up-to-date on our progress as we break the vicious cycle of too many choices created by centralized storefronts.
SesameOpen’s token sale begins October 16th at Dcoin Exchange.
Until then, earn up to $200 in free token by inviting members to our Telegram group.
