[BLOG] GUHADA: A Solution For E-commerce Problems
GUHADA, providing solutions for fundamental problems of the e-commerce market.
The e-commerce market shows amazing growth each year. According to statistics in 2018, the e-commerce market sales were 2.8 trillion in USD and it is projected to increase up to 4.8 trillion in USD by 2021.
However, there’s still problems exist that consumers who shop online most of the time are not able to see the products in person, but they purchase the products based on the information and the facts online. So in the case of luxury goods, it is difficult to determine the authenticity of the goods without examining them in person. Especially, on the third-party online platforms, there had been lots of scams and fake products that have been sold. Accordingly, it is difficult for consumers to totally rely on online market platforms to provide completely genuine products.
In a case of transactions for used cars, there are diverse illegal activities that are involved.
Editing the records of vehicle status is common, a customer is often presented with a different vehicle than what had appeared online, and at the most situations, the purchaser has to know a bit more information about cars in general in order to purchase the right vehicle.
Purchasing products from a third-party vendor or a platform can be difficult.
There are many third-party websites that are known to be scam sites. Scamming methods has been diverse and are increasing. Through such incidents, consumers have to deal with the fact that they are taking a risk to purchase items/products at certain sites.
The unreliability of the third-party websites has been getting worse and worse.
In a case of used luxury goods products, it is difficult to determine whether the luxury product is authentic or not. So, the consumers at the time purchase such products without 100% knowing that the luxury goods items are real or fake. On existing platforms, the vendors sign contracts that they will compensate double the original price if the item(s) that they sold happened to be counterfeit, however, if the vendor discontinues contact, there isn’t a way to receive the compensation for the counterfeit items.
Viewing from such point, there are not much of what the third-party online vendors can do for consumers about the compensation of purchasing counterfeit items. The reality is that the focus of the online platforms as with other retails, etc. is to increase sales. There is a need for online markets to increase their performance on protecting the consumers in such cases and increase the trust of the consumers, as the growth of the online market industry is in facilitated progress.
A solution based on TEMCO’s blockchain technology.
The GUHADA platform is solving such problems that the online markets/platforms have not been able to fix. Unlike the online platforms that focus on increasing the volume of sales of products, TEMCO focuses on the increasing trust between vendors and consumers, also filtering out the counterfeit items, focusing on validating the authenticity of the luxury goods products.
GUHADA’s 6 Benefits.
There are 6 benefits that GUHADA employs. The functions are for increasing the trust between the consumers and the vendors, as well as preventing consumers from purchasing counterfeits or deal with financial loss. The 6 functions are:
1. Seller verification process
2. Smart contract-based authenticity validation
3. Product registration through blockchain for prevention of manipulation of data
4. Insurance for defective and counterfeit products
5. Operation of the community for sharing luxury goods knowledge
6. Blockchain based ownership approval system.
GUHADA embeds confidence in consumers through benefits to minimizes consumer loss. While most of the e-commerce platform may focus on increasing revenue, GUHADA focuses on increasing consumer trust and reliability as well as protecting them from loss.
As the e-commerce market quickly accelerating in growth, there are many suggestions for solutions about consistent problems of the third-party online markets. TEMCO’s solution (GUHADA) is expected to fundamentally resolve many of the issues that the luxury market industry have been facing.
TEMCO: Innovative Supply Chain Data and E-Commerce Solution through Blockchain and Smart Contract technology.
▶TEMCO Chatroom: https://t.me/temcolabs
▶TEMCO Official Website: https://temco.io
