ARAW - The Decentralised Payment for E-Commerce Ecosystem
The world is going digital and use of cryptocurrency as a payment method is gradually taking over. This is due to the decentralized mechanism coupled with smart contract and time stamping that blockchain technology possess.
In the modern era, the e-commerce as well as the retail, is increasing along with the technological improvement. It is predicted that the sales of e-commerce will go up to 1/10 of complete retail market sales in this year. Some of these tribulations are products or traders that are less dependable. Transparency, security, and trust are being provided by the blockchain technology to its customers. The ARAW Token mixes up the blockchain technology with the partnership of e-commerce industry. Numbers of advantages are being gotten by applying for transparent blockchain technology in the industry. Let’s discuss furthermore, what is ARAW? Why is it useful platform and its tokens too?
All industries tap into it because of these attributes and e-commerce industry is not left out. Study shows that global sales via e-commerce by 2020 is expected to double by 1.3 trillion USD, the estimated value in 2014, online shoppers will also increase. This will increase competition between sellers and everyone will develop their own strategy to increase customers’ patronage.
The emergence of cryptocurrency has brought about a lot of change to the world of e-commerce but there are still some hindrances to its usage. First, there is no reliable exchange to convert cryptocurrency into fiat for shopping. An attempt to convert attract high charges and that is why there is no practical use of cryptocurrency daily. Existing e-commerce platforms operate on a centralized system, there is issue of trust and reliability as the risk of fraud exists. Another worrying concern is the high charges for the different payment gateways before transaction can take place. In addition, regulations made by government of different countries that do not support ICOs and cryptocurrencies is also a limiting factor.
These challenges are what propelled the emergence of Araw platform.
WHAT IS ARAW ?
Araw is a decentralized payment ecosystem for e-commerce industry which aim at simplifying shopping and payment processes through its various programs. Araw platform has been in existence since 2016 known as ARAW UK LTD. The platform has provided services using virtual tokens without blockchain technology and the app has been on goggle playstore since 2017. The platform today now leverages on blockchain technology to provide a transparent and reliable marketplace for both merchants and customers.
PARTS OF THE ECOSYSTEM
- ARAW MARKETPLACE — This is an online marketplace where buyers and sellers trade freely without the services of middlemen. Users can get access to the list of the items on the platform and make transaction. There are two ways of selling and buying of goods and services by traders and consumers respectively which can be by fiat or cryptocurrency.
- ARAW TOUCH AND PAY CARD — With this card, contactless payments can be made for daily shopping at supermarkets. By this, Araw platform will gain massive adoption.
- ARAW MOBILE WALLET — Linked bank account and cryptocurrency exchanges are already integrated with the mobile wallet. From there, users will be able to buy ARAW tokens with fiat likewise exchange ARAW with fiat. They will be able to send and receive tokens via exchange, also conversion to other cryptocurrencies or fiat.
- UNIFIED REWARD SYSTEM — Consumers can enjoy the benefits of Araw through purchases made as their loyalty reward. When a consumer makes a purchase using fiat, he or she is rewarded with ARAW tokens which is easily redeemable and can be used to make purchase from another merchant without any restriction.
- OPEN API PLATFORM — With this, unlearned user can make use of the system and access different services offered by the platform.
ABOUT THE TOKENThe token, ARAW is an ERC20 compatible token that is used for all the transactions on the platform. The ARAW token is an utility token designed for payment of goods and as a legal tender for trading on the Araw platform wc will result in value appreciation over time.
TOKEN DISTRIBUTION
TEAM AND ADVISORS
This remarkable project was initiated and executed by a group of experts namely;
Krutesh Shah
(Co-Founder & CEO), Carlo Pascoli (Co-Founder & CTO), Dev Shah (CBDO), Manan Jobanputra
(Lead Blockchain Developer), Dimpy Ladva (Senior Mobile Developer), Maskim Boyko
(Infrastructure Engineer)
The project advisors are: Jeremy Khoo
(E-Commerce & Retail Expert), Jane Thomason
(Advisory Board Member), Naviin Kapoor
(Blockchain Advisor), Paresh Masani (Platform Vision & Strategy), and others.
CONCLUSIONAraw which has been in existence is poised to provide a seamless payment method and a decentralized e-commerce marketplace through an efficient, secured and automated blockchain technology. Cutting edge technologies through which the platform operates will make it a world class ecosystem which traders and consumers should take advantage of.
USEFUL LINKS RELATING TO THE ARTICLE
AUTHORSHIP BY Liana Kurniawan
My Bitcointalk profil : https://bitcointalk.org/index.php?action=profile;u=1352447
My ETHERIUM Address : 0xAEe14023e51eFF117F71cF01A7c40aa46AF32afc
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