Mission and Vision of APOLLOX
The upward push of the e-commerce industry inside the last 2 decades has caused the emergence of large online purchasing agencies along with Amazon, eBay, and Alibaba. However, the centralized nature of this enterprise has created problems of unfair pricing, hidden prices, facts abuse and extra. The problems that the e-trade enterprise is facing are primarily based on their centralized version.
ApolloX solves the above issues with a blockchain-primarily based protocol that empowers decentralization inside the e-commerce enterprise. ApolloX is to disrupt these days' e-commerce market industry and offer all of us all the advantages of trading via a market like Amazon without the unnecessary prices that come from monopolistic intermediaries.
ApolloX uses tokenization and decentralization to replace today’s rent-in search of the agency with a brand new model of whole buying safety, records protection, and minimal commission. ApolloX believes that with the implementation of their model, e-commerce fees may be decreased with the aid of as much as forty%. Their goal is also to create an atmosphere that thrives on the network.
ApolloX solution - Decentralized Believe
In preference to relying on an entire employer to keep consider among customers and sellers, the execution and usage of ApolloX protocols method believe can be provided by means of network consensus or instance, if a buyer runs into issues with a fraudulent vendor, they know their case can be reviewed through a collection in their peers. Their centralized equivalent would take advantage of the achievement of the transaction, no matter the harm performed to the buyer.
ApolloX solution - Lower Costs
With the current e-commerce version, we pay as much as five times the quantity item expenses to fabricate for convenience. Every link inside the delivery chain is taking earnings. Through implementing the blockchain era to the platform, we’re in the direction of engaging in business peer-to-peer. The ApolloX crew anticipates a reduction of 40% for clients with the aid of putting off middlemen with the blockchain.
ApolloX solution - Data control
Inherent in blockchain technology is the ability to encrypt sensitive facts and save it on an immutable ledger. If the records need to be accessed, a user is able to do so with their private key. ApolloX most effective lets in consumers to get admission to their browsing and shopping hobby. shoppers can even pick no longer to leave any activity history. by means of gaining access to this valuable records, customers can voluntarily share their information with carrier providers at the community to earn rebates or personalized services. Less of the damage executed to the buyer.
The team
ApolloX founding group are from top university and businesses inclusive of MIT, Stanford, Tsinghua, and Google. ApolloX is likewise backed through legitimate ventures in each US and China: Amino Capital, Redmoon Capital, and Hofan Capital.
ApolloX crew has a success song document in constructing e-trade market. They based ApolloBox in 2016 and now has 1 million energetic customers, over 800 global brands, and $15 million annual run rate.
The Progress
Over a hundred worldwide manufacturers and online shops have become contributors to the ApolloX decentralized market within 2 months because of the declaration of the ApolloX platform. Many manufacturers and supplier communities undoubtedly answered to the brand new blockchain based market model that ApolloX is constructing. Based off these evaluations, the ApolloX group aims to accomplice with a thousand stores earlier than the platform’s official release.
ApolloX will launch with 1 million users and 15 million annual sales thanks to its strategic associate ApolloBox, a quick growing vertical marketplace inside the US. ApolloX users could be able to use each APXT(ApolloX’s native token) and fiat currency to make purchases from ApolloBox and earn rewards.
Features
ApolloX Protocol is a fixed of functionalities for all vital e-commerce transactions and network builders are recommended to construct greater functions set on top of the system built.
Attribution Protocol
ApolloX’s attribution protocol allows shops to hold present visitors channels with higher transparency and decrease fees. It additionally allows token primarily based built-incentive for the network driven traffic so shops can enjoy lower customer acquisition fee even as customers can earn extra cash from recommending products to their buddies.
Price Protocol
ApolloX charge Protocol handles the give up-to-stop price escrow manner among buyers and sellers. It additionally supports 0.33 celebrations built-in and the transformation between fiat foreign money and cryptocurrency on ApolloX platform. ApolloX charge Protocol can save you a majority of online shopping scams with the help of distributed ledger and smart contracts.
Arbitration Protocol
ApolloX Arbitration Protocol solves the post-purchase dispute and complaint agreement by means of employing the popular Deposit-mission-Vote mechanic in every dispute handling to make sure transparency and independence. While contributors, normally a client and a supplier, within the network cannot reach the settlement on a case through themselves, either certainly one of them can open a case by way of depositing a smaller quantity of ApolloX tokens. The other party is needed to deposit the equal amount of ApolloX for this case and provide their reasoning.
Recognition Protocol
Customers rely heavily on the reviews and ratings of products and dealers on a marketplace to make selections on their shopping choices. Therefore it's far important to prevent people from manipulating the evaluate device and encourage genuine evaluations from demonstrated consumers. To accomplish this, ApolloX popularity Protocol is created to reward authentic opinions and penalize fraudulent critiques.
Oracle and information Protocol
As a platform for e-commerce commercial enterprise, we depend on certain outside information's to preserve the device running, along with logistics records and advertising information. This data might be supplied to clever contracts as depended on records thru the ApolloX Oracle Protocol.
