A traditional marketplace has faced so many transitions and advancements. With all these modifications underway this sector has become one of the most profitable sectors of the 21st Century. And people are now enthusiastic to know what's next ecommerce infrastructure will be? What is the decentralized ecommerce marketplace that everyone is talking about?
Well! The answer is loud and clear — BLOCKCHAIN. This is the new technology for sellers as well as buyers. Apart from eCommerce marketplace it is also being implemented in the financial industry to make things easy and interesting. According to a recent Statistics Report, we will see an almost 400% increase in use of blockchain technology as new tech ecosystem and marketplace trend will hit the world by the end of the year 2021.
Terato Global LLC., is implementing blockchain and distributed ledger technology in its marketplace, healthcare and integrated Payment Solution (TERATO Pay App). Terato is instigating big data along with machine learning to analyze bigger and complex data to introduce decentralized solution for merchants. This will better determine uncover hidden patterns, reveal market trends and identify customer's preferences for faster and more accurate results.
Here at Terato Global LLC, we are expanding future technology such as Blockchain to produce digital ecommerce platform, the first of its kind. This means to protect the data by storing it on the side chain. We are also using an Ethereum main chain for data protection. Moreover, Terato is offering solutions based on main chain. It means if the data will be stored by using the main chain, then it will become more reasonable to transfer the entire side chain into the main chain. So we are discussing how Terato is transforming the traditional marketplace?
TERATO is offering a Block chain-protected data:
Terato marketplace is using Blockchain in its different form of solutions. It is introduced with the Digital Item Profiles (DIPs). These digital containers store several records and references along with digital documents and information on an item's purchase. It is then used as a Proof of Purchase and contain information related to the original item and description. Resale and other events collected and tracked.
Decentralize solution for merchants:
Terato is developing a system that protects the transaction and maintain secrecy between two parties. We are using smart contracts as an intermediary between the buyer and seller. Smart contract will withhold the payments until both parties will set a mutual agreement and finalize terms related to the product/services.
Terato Loyalty Infrastructure:
Terato Marketplace has a loyalty infrastructure but in a decentralized manner. Our Blockchain ecommerce solution will allow users to join the loyalty with us as a loyalty value holder.
TERATO improved Supply Chain Management:
Supply chain management is one of the most important features of every eCommerce business. So yes TERATO is transforming the traditional supply chain management procedures that are being used in online ecommerce stores with Blockchain. TERATO Blockchain Marketplace enable users to resolve supply chain issues i-e recordkeeping, product traction and it will make the procedure less corruptible. Blockchain technology provides better alternative to the centralized database. There are some more use cases of supply chain which are discussed below:
Provenance Tracking:
TERATO Blockchain marketplace has made it easy for users to enhance the overall customer’s experience. It helps in improving the overall supply chain, record keeping and provenance tracking for both retailers and shoppers. The Blockchain technology will help in the traction of products from its origin to where it present right now. Besides this, it's helpful in the detection of anomalies present in any segment of the supply chain.
Cost Reduction:
TERATO applies Blockchain infrastructure to enhance the administrative processes present in supply chain. It helps in the reduction of the extra costs incurred by the system and pledge the security of transactions. Moreover, the elimination of intermediaries will eradicate the overall risks of fraud, product duplicity, and aid in saving money.
Inventory Management:
TERATO Marketplace is implementing Blockchain in the backend of the supply chain system that improves the overall inventory management. Blockchain applications in the inventory management system enable retailers to avoid redundant expenditure spent on hiring new staff again and again.
TERATO is revamping payment methods:
Crypto eCommerce solutions have developed a decentralized payment gateway that provides an enhanced payment. A Gateway to users that enables them to send or receive payments. This payment supports multiple digital currencies. We are offering a highly encrypted payment gateway that is more secure as compared to traditional payment solutions.
Terato Blockchain Payment Solution:
Digital currencies are the future of real-world payment, supported by encrypted data and enhanced confidentiality of the payment process. Blockchain Payment Solution (TERATO Pay) allows consumers to store the specified amount of cash into their digital wallets by using their phones. They can spend their digital currency in Terato Blockchain marketplace and healthcare by converting Tera token into T-points.
Terato Point of Sale:
Blockchain Payment Solution (TERATO Pay App) is interlinked with the marketplace. It allows users to store, convert, spend, hold, accept or transfer the digital currency payments for their small businesses. It empowers users to manage customers and protect their business by implementing business intelligence through reports & analytics.
Moreover, the T-point card will be issued to users, it's similar to a bank debit card that is synchronized with the user's TERATO Pay account. Consumers can simply use these T-points to buy and sell products/services. Later on they can recharge their card from the TERATO Pay App.
TERATO Marketplace support transparency:
Currently retailers are facing issues related to lack of transparency in their existing eCommerce platforms. That's hard to overcome as we can see a recent event in which Amazon cuts off and disable a merchant's page without giving any explanation to its users.
TERATO implemented blockchain technology in its eCommerce marketplace that forms a decentralized environment. In this system all activates are closely monitored that are related to business or merchants. A transparent eCommerce marketplace will assist in steering business transactions in an efficient manner.
Secure:
Blockchain Ecosystem is meant to secure the distributed public ledgers that hold absolute data in an encrypted way. This ensures zero percent alteration in these transactions. Presently, this type of distributed ledger technology (DLT) is getting more popular in the general public. And it's being used in departments like real estate, Data storage, asset management, financial transactions, and many more.
Terato Global LLC. is implementing blockchain and distributed ledger technology in its eCommerce marketplace. New technology such as big data along with machine learning to analyze bigger and complex data is being used. This information technology helps us to uncover hidden patterns, reveal market trends and identify customer's preferences for faster and more accurate results.
Terato Global LLC. uses Blockchain ecosystem to facilitate fast, secure, low-cost, international payment processing services (and other transactions) through the use of encrypted distributed ledgers that provide trusted real-time verification of transactions without the need for intermediaries such as correspondent banks and clearinghouses. Initially, Blockchain technology was used to support only one digital currency, but now it's supporting a lot more.
TERATO marketplace is spawning Genuine Reviews:
- Fake Reviews
Customer’s reviews are helpful in determining the order in which business appears on an ecommerce marketplace or in the result of search query. Keep in mind that fake reviews are not good for the reputation of the company and it will become reason of losing customers.To prevent these types of issues TERATO has implemented Blockchain technology in its Marketplace. Deploying Blockchain will help retailers to restrict the fake reviews, because it stores data in the form of blocks that will be which is then added to a chain of similar information blocks.