Right now’s e-commerce is characterised by the dominance of huge on-line retail corporations like Amazon, Alibaba, Wayfair, eBay, and others. With Amazon holding over 40 p.c of the US on-line retail, it stays the principal gross sales channel for small- to medium-size sellers. By advantage of their market share, Amazon and the like personal their clients taking a disproportionately excessive minimize of the gross sales value and imposing their guidelines. The inequitable remedy leads to alternative prices for sellers.
Realizing it was time to convey justice and extra equitable phrases to on-line commerce, Aharon Bernal, an lively vendor on the Amazon market and an avid proponent of blockchain expertise, created Safex.Market, a viable e-commerce various for small companies. The truth that Safex.Market relies on blockchain makes it distinctive; it is ready to supply its contributors phrases which might be extra benefiсial than these supplied by giant marketplaces. Furthermore, the platform solely makes use of its personal cryptocurrency SafeXcash ($SFX), primarily based on two cash: Safex Money —the minable forex used for buying, and Safex Token—used for income sharing. By counting on proprietary cryptocurrency and the impenetrable blockchain, Bernal will guarantee privateness and velocity of transactions. He has set himself a aim to turn out to be one of many largest on-line marketplaces and englobe as much as 100 international locations. With this in thoughts, by the tip of 2022, he expects his platform’s turnover to achieve $100 million.
Seeing his mission in “giving patrons the chance to help and interact with a small enterprise,..making a more healthy transaction that facilitates belief and relationship between patrons and sellers in addition to independence for sellers,” Bernal and his companions have given sellers a good probability to compete with each other on the platform whereas rising their enterprise in a extra aggressive and equitable surroundings. Whereas Amazon, based on Bernal, usually tends to please the client on the vendor’s expense, his Safex.Market is equally useful for either side of the transaction.
Bernal is upending the world of e-commerce by bringing an moral method to on-line retail whereas making a viable various to the established monopolistic on-line market constructions.