We are excited to announce of our new scheduled Wowoo related project.
Due to advancement of internet, large portion of modern commerce has been evolving and shifting its business model to “E-commerce.” It is said that BtoC E-commerce market will exceed $2.6 billion in year 2018. If we are to Include the mainstream CtoC business of recent years, it is predicted that there will be greater growth of the market especially originating from China and United States.
Blockchain technology, which was first introduced to the world by the fundamental of Bitcoin, and as it has shown, is very useful for payments. Like Purse.io, which is known widely from accepting Bitcoin Cash which we support, the service of connecting cryptocurrency and e-commerce will be more present in future.
The project Wowoo deals with will be not only be simple as current e-commerce business, which products and services circulate from one company to another, but also adopt maximum potential of blockchain technology.
The base form will be free-market model. The seller will be able to post wide range of items such as products, services, skills, time, and real-estate. The buyers will be able to use cryptocurrencies as mode of payment, including Wowbit (WWB).
Even considering the growth of e-commerce market of the coming few years, the market will be saturated in matter of time. In addition, it might create difficulty over match making of good products and the buyers due to the diversity of platforms. Thus, integrating blockchain technology and cryptocurrency payment is believed to open new market model.
As we are currently constructing the business model with our partners, we may be able to offer the Sellers to be able to select and accept various currency pairs and manage them inside a wallet. This could potentially offer substantial multi-currency savings opportunity.
Also, there may be a case where in spite of providing good service or products, the Seller may face difficulties due to being categorized by vulnerable groups of the weak of society, according to our existing market principle. This kind of cases would be able to be resolved by innovation, which is connecting and expanding goodness as blockchain has brought in the society.
We aim for creating platform which will also be able to tokenize the products that are sold, with the equipped engine inside the platform which will enable to trade physical commodities and encrypted digital values with service in a set.
We are currently reorganizing variety of business models and focusing on legal reviews with partner companies. We aim to release Beta version by around the middle of 2019 and provide the service including function of issuing tokens within 2019.