Web3 for E-Commerce SMEs
Since 2012, our blockchain tech team has worked on innovating blockchain technology to achieve more efficiency, better performance, and greater accessibility to Web3. While we are continuously working on improving our network and our solutions, we have never forgotten the importance of the application of our technologies to real-world case scenarios.
E-commerce is one of the sectors we’ve been the most active in for a variety of reasons:
- the size of the industry
- the richness of enterprises of all sizes
- the multiplicity of services that one single organization needs to provide
- the need for scalability that organizations often experience
- the need for flexible architectures and solutions
One of the solutions we have developed for the sector is relying on our Token Contract to help startups and SMEs compete with larger companies and innovate cost-effectively.
Our Token Smart Contract is designed for extreme simplicity, security, and reliability. On the V Systems network, we (or you directly) can register new tokens in minutes. It is cost-effective, flexible, and transparent.
Convenience
Registering and deploying new tokens on the V Systems network costs only 100 VSYS.
Flexibility and scalability
VSYS transaction gas fees make it easy to predict gas costs for operations. This considerably improves budgeting and cost estimation for better scalability planning.
Transparency
Anyone can check the state of a VSYS token contract and know exactly what it is without checking the code.
One of the use cases we enabled is that we have used our Token Contract to create E-Voucher (or Digital Coupon) Solutions for SMEs.
Tokenization of Vouchers and Loyalty Programs
- Industry: E-Commerce
- Target audience: Startups and SMEs
- Markets: Hong Kong and APAC
- Solutions: E-Voucher / Digital Coupon Solution
Pain points we aimed to solve through blockchain technology:
Fierce competition can put SMEs off
SMEs have to compete with large corporate loyalty programs — based on coupons and vouchers — which tend to be more effective, rewarding, and accessible on numerous platforms thanks to the resources that bigger corporations have access to.
Interoperability between environments
Sometimes, enterprises tend to rely on old, incompatible ecosystems due to legacy and outdated business practices. Thanks to blockchain technology, it is possible to enable interoperability between different environments and systems in a separate ecosystem concurrent to existing businesses.
SMEs need large liquidity liability upfront
Organizations that want to run loyalty programs usually need to ensure large liquid cash liability upfront. This can be challenging for many companies, especially SMEs.
Traditional businesses are not familiar with Web3
Traditional businesses are not familiar with the Web3 and blockchain world and how this could benefit their business.
How we addressed and solved the pain points:
Web3 for cost-effectiveness
We rely on blockchain technology rather than hardware to cut down on costs and resources needed. Transactions are recorded automatically on the blockchain with no middleman involved and without extra accounting analysis required.
Voucher tokenization to solve the double spending problem
We tokenize vouchers to work around the double spend problem as traditional redemption methods can be slow and buggy, and users may accidentally (or not) redeem vouchers twice, or not at all.
Tokenization for ecosystem interoperability
We use tokenization to solve the hurdles caused by incompatibility between ecosystems and platforms — no matter how many apps, platforms, or ecosystems are there, by using one single token, it is possible to work around the issue. This can also help boost client retention and cross-product promotion.
Optimize marketing costs through accurate redemption tracking
Thanks to blockchain technology, we can easily track transactions and voucher redemption to guarantee that the open redemption rate of digital vouchers is correctly displayed. This can considerably optimize the marketing spending of SMEs and any kind of company.
The solutions we have crafted for the e-commerce industry:
Managed Loyalty programs
Cash rebated service of digital vouchers based on V Systems’ sister architecture.
Self-Managed White Labeling Solution
Customizable, on-demand solutions for corporations and enterprises with in-house resources to issue and handle the token liability while our team designs an independent loyalty point system for the client.
How we work with our clients:
B2B
For SMEs but also large-sized enterprises who would like to offer their own voucher or coupons with minimal operational costs
For enterprises who want to offer a rewards program and make use of other vouchers for their own loyal customers
B2B2C
For users who interact with enterprise-level campaigns — mostly at events, pop-up shops, etc.
Our achievements
- We solved the issues related to ecosystem incompatibility by enabling platform interoperability and voucher redemption by tokenizing vouchers.
- We sped up the redemption process and worked around the double-spend problem.
- We have helped SMEs tap into the Web3 space through familiar, already existing services that could be optimized considerably.
- We helped SMEs cut down on costs by relying on blockchain technology.
Curious? Any questions?
Contact us at support@v.systems
About V Systems
V Systems (VSYS) is an open-source network that supports decentralized applications’ efficient and agile development. It is designed for real-world use cases, making it possible to create, send, trade, and track tangible or intangible assets in a digital form. VSYS can handle millions of transactions daily and it runs on a decentralized, open network.
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