Decentralized E-Commerce Marketplace Vows to Offer Shopping Protection and Data Security

A new blockchain-based e-commerce marketplace claims its centralized rivals are harming the sector by overcharging buyers and unfairly treating merchants - and plans to launch a new model, offering "Complete shopping protection, data security and minimal commission."

The first component is a protocol which the company says makes it easy for e-retailers to build decentralized e-commerce applications on a blockchain.

ApolloX claims that unfair pricing, hidden costs, data abuse and the misuse of power are byproducts of e-commerce giants pursuing ways to maximize their profits.

Helping merchants grow their businesses According to ApolloX, many merchants are stuck in between a rock and a hard place when it comes to reaching shoppers.

To compound the problem, the startup says that these merchants are missing out on precious data about the buyers who come across their stores - preventing them from enacting strategies that will fuel further growth.

The decentralized platform aims to remedy this through an "Attribution protocol" that enables sellers to monitor the traffic their store is receiving - and provides both sellers and customers the opportunity to receive incentives for boosting the number of people they reach.

The company claims that the set of smart contracts which form its payment protocol can pave the way for automated and decentralized transactions - and says this has the potential to prevent most online shopping scams.

Encouraging the use of the ApolloX platform The startup says that a custom-made token for its ecosystem, APXT, has an array of purposes that will contribute to its user uptake.

ApolloX is planning to hold a token sale for APXT, with funds being used to further the development of its protocol, strike strategic partnerships and raise awareness about its platform.

Its decentralized marketplace would undergo testing in April 2019, paving the way for ApolloX to become a fully decentralized service in 2020.