LONDON – UK / In recent years, global trade has made positive changes in multilateral trade. What helped this prosper?
First of all, the impact of technology 4.0, in which the role of Lot is the key.
The second is the way to distribute products on the Internet, which allows manufacturers or suppliers to reduce the cost of business locations.
Next is the resilience of the community, thanks to the spread of social networks combined with commerce, allowing brands to simultaneously approach millions of consumers globally in a short time and at the cheapest cost.
Another important factor is a multitasking payment platform that allows users to conveniently purchase, make payments and receive goods in just a few mouse clicks while still being secure.
The final factor that determines the strong growth of E-commerce is logistics technology.
From the above factors, despite the adverse impact of the Covid-19 epidemic, the global e-commerce industry still reached $27 trillion.
Reverse auction combines blockchain on the e-commerce platform
A new concept of online commerce in the sharing economy of the 21st century. As people who have a lot of research on emerging, trending phenomena, we appreciate the pioneering in innovation in terms of trade and technology. In the practical applications of projects related to blockchain technology, perhaps the Onstora platform must be mentioned. According to the information we have from checking the sources, up to now, this is the only application that integrates multiple tasks in one platform. The outstanding features of this platform are:
- E-commerce – allows users to purchase products like other e-commerce sites
- Reverse auction – unlike the traditional English auction, the winner is the highest bidder. With Onstora’s auction rule, the auction participant wins when he or she pays the single and lowest price. Therefore, it’s called a reverse auction.
- Combining blockchain platform in buying auctions’ bids with FTXF tokens and paying the rest in USDT.
- Online reverse auction allows all countries to participate in the auctions and own their favorite items at the lowest price.
- Quality products, selection criteria for products for auctions are also valued through the background we found that many categories are mentioned such as consumer electronics, gifts, items to vehicles, even real estates, etc.
Thereby seeing that this is a new model, there are many challenges, but it proves that the founders of the project know the strengths of the product to promote.
We acknowledge that the Onstora reverse auction e-commerce platform is managed by SEC Pte established in Singapore in conjunction with FTX Finance Ltd in the UK allowing users to have one account to use on multiple platforms. The SEC is also a member of CMC Holdings Inc in the US.
From users’ experience through Onstora’s developing platform allows writers to hope for a new direction, opening an innovative era in commerce, technology, and blockchain of the 21st century.
We who adore new technology, multilateral commerce, and integrated creations of mankind, expect the Onstora reverse auction e-commerce platform to achieve success and receive a large response from the community. Contribute to applications in the blockchain technology industry to be more diversified and developed.
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