E-commerce is at its peak during the past few years. There’s a big potential in this industry as many developing countries are rapidly adapting into this business. However, this industry is being abused by giants who give lots of burden to people through excessive commission and lack of transparency.
At present, marketplaces of E-commerce are dominated by 3-5 global corporations and several other local players which dominate specific markets. The key concerns about trading on those platforms are connected to various hidden commissions, which can go as high as 45% – an enormous share of someone’s revenue. But still according to the report of International Post Corporation, 65% of all retail purchases made online are coming from these companies.
Looking at all taxes and hidden commissions (including losses on currency conversion when making international payments, commissions for the stowing of goods and account service), a seller receives an average of around 83% of the cost of its goods. Another burden that people shoulder in this industry is the average commission for conversion when trading online that ranges from 3-4%.
It seems obvious that some people are often discouraged to continue trading online after they face how much they’d lose. That is why Bazista would like to present a game-changing solution as soon as possible.
Bazista declares an innovative approach to the democratization of e-commerce. With the help of blockchain technology this project can set a much more transparent trading standard that serves as seller’s and buyer’s protection against unreasonable charges.
4% will be the maximum commission for operations on the platform. With this very low commission charges, sellers can absolutely gain much and buyers can benefit from this as well. Commissions may even go as low as 0% when a user deposits over 48 000 of BZS tokens on his account. It’s undoubtable that such an approach presents great potential in the given ecom environment.
The platform will also be convenient for all users due to its simple and initiative interface, which is another big step forward from what is provided by current ecom players. Bazista aims to create a system powered by AI tech in order to shorten the consumer’s pathway towards a deal application or purchase.
This, indeed, is a great investment for those who are seeking solid, innovative and relevant project. Bazista has a powerful solution to eliminate the irregularities present in the giant companies in this industry nowadays. With abundant potential innate in this project, no doubt that this will be successful.
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Bazista CEO’s Medium: //medium.com/@VakhAbuladze