The supply chain system is made up of the buyers and the sellers. Each of them contributes immensely to the successful payment for and purchase of goods and services. Owing to the fact that suppliers and buyers need to work together to ensure the swift movement of goods and services, you will discover that the absence of that might not mean well for the supply chain system.
It is in the light of the current challenges holding down the supply of goods and services that the BuyAnyLight platform was launched. By making use of the Distributed Ledger Technology (DLT), aka the blockchain technology, the platform would be able to create the much-needed interactions between the suppliers and the buyers of goods and services.
THE ROLE OF LED
Electricity in our homes is used in different ways. We used it to power our electronics. We also use electric power supply to light our paths by delegating electric bulbs. Now, a new variant to lighting called Light-Emitting Diode (LED) was launched to be a better lighting option. It is also on record that LED-powered electric bulbs are energy-saving, brighter, and provides improved functionalities over the traditional electric-powered bulbs.
THE MARKET CHALLENGE – DIFFICULTY IN SOURCING LED
Since LED is famed and has proven to be efficient in different lighting capacities, it doesn’t come as a surprise that it is in high demand. It is also negation of the concept of Demand and Supply that the supply and purchase of LED has been fragmented. The difficulty in sourcing LED-powered bulbs, as well as the dominance of third-party/centralized medium of supplies made it difficult to get your hands on one. It is also sad to note that stocking LED and having the required capital to start the business are also part of the market challenges.
HOW BUYANYLIGHT RESOLVES LED SOURCING CHALLENGES
Considering how LED is in great demand and how it is difficult to make use of the current sourcing frameworks, all eyes now turned to the blockchain technology to set LED sourcing on the right path. The latter (the blockchain technology) being a decentralized network designed to address many issues pertaining to different industries, is now making use of the BuyAnyLight platform to solve those issues.
Therefore, read on to discover how it can bring the needed changes to how LED is sourced and supplied. At the core of it, we are now set to make use of a safe, transparent, and faster medium and platform to purchase LED.
LIGHTFINDER
The LightFinder section of BuyAnyLight is designed to give potential buyers to place orders for the kinds of LED they need, after which they would submit Request for Quotes (RFQs). It is after such RFQs have been tendered that BuyAnyLight would match potential buyers to the suppliers.MY HOME
The idea behind the My Home section of BuyAnyLight is for homeowners to upload their lighting requirements for the BuyAnyLight (BAL) platform to suggest the best lighting needs.
CONCLUSION
The BuyAnyLight blockchain-based LED sourcing platform is an excellent way to reduce the hassles that come with sourcing LED. Hopefully, you would make use of this platform to source and start making use of LED lights in your home.
USEFUL LINKS
Website- www.buyanylight.com
Telegram- https://t.me/buyanylight
Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.
Please follow @innerhive on twitter for more information.
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