E-commerce business approaches are constantly changing while humanity entering the age of globalization and information thus bringing new challenges in terms of personal identity verification and payment methods. Among the major challenges for e-commerce I would like to emphasize the most relevant which are as follows:

• Slow transactions which can be unnecessarily complicated and delayed for weeks or even months (supply chain normally involves several parties with negotiated shipping rate, shipment tracking, delivery confirmation, costs settlement and charges);
• Frauds due to difficulties in regulation and selection of merchants;
• Trust between buyers and sellers. This factor leads to using intermediaries thus increasing costs to maintain the ledger as charges are imposed;
• Lack of transparency in managing user data enforcing businesses to invest more funds in dealing with this issue;
• Lack of unified payment method (like universal e-wallet);
• High fees related to transfer methods, delays in settlement, counterparty risks.

Good results in solving the stated inefficiencies of the e-commerce have been achieved by the Safein team which has undertaken a deep analysis of the inherent problems and set out to create a universal sign-on and payment solution based on blockchain mechanisms. Let’s look into the main idea of this undertaking in more details.

Website: https://www.safein.com/
Whitepaper: https://www.safein.com/summary/EN/EN_whitepaper_safein.pdf?version=12.4

The main goals and advantages of the Safein project:

Securing of the customers’ personal data used for e-commerce, enabling anonymous shopping and eliminating redundant registrations are the key goals of the Safein project. By using blockchain mechanisms customers will be able to obtain easy access to payments for products and services. Furthermore, users’ identities will be stored on the unique platform along with crypto and fiat currencies.

The main advantages of the Safein e-commerce ecosystem are as follows:

👉 Single large-scale PSP (Payment Service Provider) accepting payment both in cryptocurrency and fiat using a unique Safein wallet. It is notable that there will be a conversion to the required currency at the best available rate in the process of transactions;
👉 Significant savings of costs for merchants due to reduced demand in customer support for handling trivial matters;
👉 Eliminating time-consuming registrations thus allowing to access any services immediately with no delays for identity verification;
👉 Decentralised nature of the database which is never compromised;
👉 Increased cybersecurity due to encrypted data not stored in the centralized database, so even in the case of a mass data breach, your personal information will be retaining safe;
👉 Providing a one-stop shop for easy online access and payments through the Safein unique platform;
👉 Customers will be incentivized to use the services provided by Safein partners;
👉 A tokenized business platform, where everyone benefits from being part of the network;
👉 Low transaction fees due to direct connections with merchants using blockchain protocols.

Safein token and ICO terms:

Safein token (SFN) is a cryptocurrency for internal use providing utility both for the merchants and customers enabling fast and automatic settlements within a smart contract. SFN tokens function on Ethereum network using ERC20 standard. Holding SFN will reduce transaction fees for merchants and allow them to process the stated amount of payments per month without any commision fees. As far as customers are concerned they will be motivated by monthly cash back and paid with Safein tokens. Furthermore, there will be other methods of incentivizing, for example, there will be registration and referral pools allocated for rewarding new and existing users.

The exchange rate of the Safein token will be 9000 SFN for 1 Ethereum.

The Safein project is holding fundraising campaign and attracting a lot of institutional investors who pour money in the form of ICO - a new way of fundraising through issuing the underlying crypto tokens of the project.
According to preliminary information, ICO soft cap will be 6000 ETH and hard cap - 40000 ETH. It was scheduled to start ICO on the 3rd of April but It was postponed by the developers for two months due to minor technical issues. So we still have time to look into the project in more details and make a grounded decision on our contribution.

SAFEIN TOKEN DISTRIBUTION

It must be emphasized the 30% of the total token supply will be allocated for Safein ICO to satisfy the following needs:

1. maintaining further product development and project functionally;
2. developing payment solutions with internal transaction processing system;
3. ICO expenses and marketing;
4. crypto payment functionality;
5. Acquiring EMI license.

The project team:

The Safein project team is quite large and consists of successful advisors and industry experts having a lot of experience in the related fields: blockchain technology, software engineering, personal identity verification, data science, finances, fintech and marketing, e-commerce management etc. A large and well-structured team must lead the project to the scheduled financial results in due time. The list of the team members/advisors and their details can be found on the official website of the Safein project: https://www.safein.com/

Conclusions:

The Safein project is very promising both for businesses/merchants and customers in terms of the e-commerce efficiency. The concept of the project and its implementation will give the possibility to resolve a lot of issues related to personal identity verification, poor user experience, lack of transparency in managing user data, absence of universal payment methods (unique e-wallet), business regulations. Both merchants and customers will be able to take advantage of fast and secure e-commerce platform and managing their finances in the controlled and smart way by using SFN tokens. This project is worth investigating in more details because the unique and innovative approach to interactions between merchants and customers can really lead to facilitating e-commerce processes that is why I would conclude that this undertaking is very encouraging in terms of high returns on investments so let us take a closer look and keep tracking the progress of fundraising and advertising campaigns.

The Safein project contact details:

• Project site: https://www.safein.com/
• Twitter: https://twitter.com/safeincom
• Telegram Group (Open Chat): https://t.me/safeincom
• Facebook: https://www.facebook.com/safeincom/
• BitcoinTalk (Forum Thread): https://bitcointalk.org/index.php?topic=2903156.0

The author of the article (on Bitcointalk):
https://bitcointalk.org/index.php?action=profile;u=1144629;sa=summary

Every feedback on the Safein project would be really appreciated!
Thank you for your attention!