DeFi boosting eCommerce models: The Xion Global Solution
The mass exodus of merchants from brick-and-mortar to web storefronts has been accelerated by aggravating circumstances surrounding the uncertainties of the pandemic crisis. The limited physical interactions have forced peoples around the world to shift to the Internet so as not to disrupt in-placed social systems, mechanisms, and processes.
This new norm, we can say, is teaching us a lot about how digital platforms and applications can really make transactions across industries along with personal lifestyles that are easier and more convenient.
Take the case of eCommerce
Not since the dawn of the Internet has eCommerce disrupted the way people conduct their businesses particularly the retail sector. Brick-and-mortar businesses now have somehow dabbled on and eventually adapted eCommerce models. Amazon and eBay have turned into worldwide commercial giants making products easily available to anyone anywhere in the world via the Internet. But since a lot of small businesses know that competing against these retail giants is just an exercise in futility, they relent, simply turn in and sign up, costing them as high as 20% in commissions. While the web merchant fulfills a longtime dream of becoming such through Amazon or eBay, the consumer ends up bearing the brunt by paying excessively more than what a product’s price actually is.
DeFi to the Rescue
Behind the power of DeFi, or decentralized finance, is blockchain technology, the core principle of which is the elimination of the middleman, and whose distributed ledger technology offers transparent and immutable data entries. Applying them to the cause of eCommerce can propel the industry to leaps and bounds, becoming disruptive as well.
The formation of a formidable economic ecosystem in DeFi and eCommerce rolled by Xion into one entail viability to both web merchants and online shoppers with the following attestations:
Smart Contracts. Smart contracts act like computer programs capable of automating certain tasks based on preset rules. Since blockchains are instrumental in storing them, smart contracts can also automate eCommerce-related processes. They can grow an eCommerce enterprise by cutting down on costs needed to hire staff to carry out tasks that computer programs can automate. Smart contracts can also facilitate inventory management. This means that online retailers can manage the control of inventory items. The Xion DeFi smart contracts are upgradable in order to fix any bugs, errors or implement any additional features.
Easy to Access Receipts and Warranties. Blockchain technology also provides online retailers and their customers the convenience of storing receipts and warranties of products. When making online purchases, one of the challenges that buyers face is losing paper receipts. At times, buyers also experience frustration when trying to prove the warranty coverage of certain purchased products. With Xion, buyers and retailers will be able to access receipts and warranty data and validate proof of ownership easily.
Loyalty Programs and Personal Offers. When online retailers adopt blockchain technologies in their business processes, they can easily issue redeemable reward points to their clients whenever they hit certain spending thresholds. Web merchants can also make these reward points redeemable across different eCommerce sites. Clients can also benefit from personalized offers and discounts that the retailers offer. eCommerce enterprises can use these loyalty programs to attract more customers and expand their product reach. Xion offers exciting Cashback Rewards up to 100%, the first of its kind.
Supply Chain Monitoring. With a reliable supply chain, online stores can achieve their desired business goals. This is because supply chains enable store operators to know the stocks that are in the pipeline, and when they should arrive. Supply chains also help store operators to verify the type of products that vendors are supplying to them, including their source and origin. When these operators use blockchain to monitor the supply chain, they can prevent vendors from substituting certain products and foster transparency throughout the endeavor. Xion’s supply chain guarantees that while web merchants are monitoring the shipping and delivery of products bought, the same are concurrently being replenished.
Generating Genuine Reviews. Web merchants can rely on blockchain technology to verify the reviews on their products or services. The reputation of an enterprise relies on how legitimate its reviews appear, thus, the need for eCommerce sites to use blockchain technology. Xion sees to it that web merchants get genuine reviews.
Cross-Border Customers. DeFi and eCommerce provide web merchants endless opportunities to gain customers from different countries by giving them access to products and services not available in their points of origin. Customer base is global-based.
One-Stop Payments Gateway. Xion offers a free and simple eCommerce solution. Web merchants can start accepting payments instantly and hassle-free, with chargebacks now a thing of the past. All it takes is a social account, an email address, or phone number to start accepting payments, sending payments, and the management of one’s online business.
Merchandisers from different parts of the world are turning to eCommerce as a storefront for their business endeavors. Blockchains are acting as the backbone of online sales and payments. Besides being faster and cheaper, blockchains facilitate all activities that current commerce systems allow. Since the future is imminent, we can only democratize the economy by making finance and commerce more transparent. Blockchain technology seeks to capture the power of financial institutions to give people back control over their transactions.
This meeting of two disruptions is very well the concept behind what Xion is all about. With blockchain-empowered DeFi boosting eCommerce models, web merchant and online shopper experience will be unprecedented
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