Buyzooka
The Team’s AMA Answers.
You might know that last Thursday our team hosted an AMA session, where we responded to a lot of our community’s questions. No worries if you missed it — for those of you who did, we are publishing the Q&A compilation so that you are up to speed on what’s new with Buyzooka!
Q1: Tell us a bit more about the sidechain you'll use for Buyzooka, and how many TPS can you reach?
- A1: The blockchain that is used by Buyzooka is Polygon (ex-MATIC). This blockchain is a side chain of Ethereum. We did choose this blockchain because it reduces friction implemented by Ethereum blockchain (gas price). We can reach 7200 TPS on the Polygon blockchain.
Q2: Is it so important to have a very high TPS rate for Buyzooka? because some other mainnets have more than 10k TPS
- A2: No it is not necessarily important as the blockchain is used:
- to give cashback to users;
- to store future transaction p2p on our incoming second hand platform.
There is no need to get a big capacity in terms of TPS.
Q3: What is the origin of the project?
- A3: The idea already started to emerge in February 2020. True coincidence, when you think about it, as it was right before the pandemic that really enabled the e-commerce industry to rise, thereby also showing its limitations...
Q4: Why did you prefer an ICO versus a traditional venture fundraising?
- A4: Well that is a very good question, thank you! I prefer an ICO mainly for the simplicity and the community spirit that it represents compared to VC fundraising. Indeed, an ICO has a worldwide reach and can speak to anyone having an interest in the project, any level, sharing the same values.
Q5 : Why did you choose Polygon instead of some other blockchain?
- A5 : We did choose Polygon between several blockchain we were benchmarking (Ethereum, TEZOS, Polkadot).The main reason is the compatibility with ERC-20 tokens (our token is ERC-20 compliant) and also the meaningless of gas price on every transaction (very close to 0).
Q6 : How many partners are you expecting in the next 2 years?
- A6: Over the next two years, we are expecting to make partnerships with notorious CMS such as WiX and Woocommerce, thereby enabling Buyzooka to cover more than 3M e-shops in the long run.
Q7 : Aren’t you scared that a huge platform (Amazon) will somehow strike back against Buyzooka?
- A7 : Amazon is definitely what we can call a giant in the industry, but with our decentralised community approach, promoting independent e-shops and brand diversity, we really hope so… this would mean we are doing a good job :)… And we know from a trusted source that Amazon already has an eye on Buyzooka... That's a good point! Their European HQ is near us in Luxembourg...
Q8 : How will you keep a bullish trend of the $BZOO Token ?
- A8 : I can not assure that we will surely maintain a «bullish» trend, but the market can.. and will. Indeed, the uptrend evolution of the $BZOO will be directly correlated to the turnover generated by our users and the results of our business activity, thereby driving a sustainable and growing demand for the token.
Q9: Will we be able to pay partners in $BZOO? Is it something that you are planning to do?
- A9 : Indeed! We are actually working on the payment infrastructure developing our own Buyzooka's secure wallet to be plugged in the merchant's front-end. It is scheduled for Q2-2022.
We are thankful to everyone who has participated in our AMA! If you still have questions — please, ask them on our social media, we are always ready to respond.
About Project Buyzooka.
Buyzooka is a FastCheck out platform that connect shoppers to 1.5 millions independent shops to date. It aims to provide to local stores the same technological tools than Amazon-like marketplaces to give them back the power through unbundled and decenetralized mutualization.
Our platform functions as software that facilitates the commercial process of initiating and executing transactions over the internet. Independent merchants display products on their own preserving their indentity. Then consumers browse the Buyzooka’s search engine to find and purchase the Products based on desired preference discovering a huge diversity of brands and independent retailers. Hence, a fashion wears merchant will be found through Buyzooka’s unbundled network with keywords search like Apparel, sneakers, bikini, etc.
Buyzooka is a nomad fast checkout platform that drives e-shoppers to a next level in term of user experience because We're not interested in fancy software. We're interested in solving real business problems.
Buyzooka is adapted to shoppers untold needs
- It integrates a universal and cross-site wishlist: user won't use shopping cart anymore as wishlist.
- No more manual sign-up + fast checkout: Buyzooka read e-shop source code to fulfill heavy-lift procedures automatically: Sign-up, cart management, and checkout in autopilot mode. User doesn't even need to get back to the site to late check out: "inBed-mode."s.
Be part of Ecommerce 3.0
Buyzooka is building a class of products and services to empower shoppers to get better prices, buy local, guarantee transparency, use data to make a wise choice, and *get compensated for shopping*.
PROBLEM DESCRIPTION
• SLOW CHECKOUT:
The e-shop checkout process should only take a few seconds. However, incorporating features that ask buyers to fill in information on a different page or open a new payment account tends to be unwieldy and unattractive. However, some platforms require buyers to enter the same information many times. And this, in turn, causes buyers to lose interest. While slow checkouts are fluent with desktop, they are more fluent with mobile devices. An unresponsive e-store is more difficult to use for checkout. Buyers may be asked to fill in shipping and billing information. If they do not fill in all the required details, they may be asked to start the filling process again. Having to navigate the checkout process for a few minutes tends to cause shoppers to abandon their carts.
• PAYMENT PROCESS:
Research has revealed that 85% of retailers cite poor payment experiences as the key reason for loss of sales. Shoppers are usually picky about their payment method because of security reasons or personal references. Hence, those who do not find their preferred payment option tend to abandon the checkout process. A report revealed that consumers in Eastern Europe and specific Western European countries like Greece, Belgium, Germany, as well as Indian, Latin America, and Russia were likely to pick the retailer payment option as the most important part of the shopping process. To them, the payment option is more important than options for delivery or returns. While most people previously pay with credit cards, technological advancement has given rise to different financial developments. Younger shoppers now prefer to pay with Paypal or digital currencies.
• INEFFECTIVE CYBERSECURITY:
Ecommerce platforms have become treasure troves of personal and financial data for hackers. And for businesses, the cost of a breach (loss of data and customer trust) is usually damaging. In 2014, eBay was hacked. The personal information and passwords of registered users were exposed to hackers, thus leaving users susceptible to being victims of identity theft. Ineffective cybersecurity does not only ruin a business but can also make shoppers lose their financial accounts.
THE SOLUTION Buyzooka
With the increasing volume of eCommerce, there are the need to provide a more reliable platform built on an unbound, decentralized, fair and trusted model. Buyzooka provides a solution to this problem by developing a nomad, fast merchant agnostic checkout platform that automatically connects 1.5 million sellers to date to potential customers (Holders). Unlike general purpose shopping cart software which developers need to customize and maintain, Buyzooka runs directly into the HTML of the website and requires no additional coding ordevelopment work of any kind from the retailer. It Streamlines automatically and off-site (Nomad) from registration to cart management and transaction processes avoiding a painful check-out process reduce cart abandonment via UX repair.
UNBUNDLED SHOPPING PLATFORM
Reaching the right audience for a business can be very difficult for merchants and business owners. The introduction of the internet launched a means through which merchants can reach potential clients irrespective of the difference in location. However, established eCommerce platforms have proved to be unavailable to merchants due to factors within their control. Other challenges sellers and merchants face include accepting multiple currencies (including Crypto ) government regulations, tax laws, and even customer support. Hence, merchants need to determine the right eCommerce platform to reach potential clients worldwide without having to deal with the problems associated with conventional platforms. Buyzooka proves to be a significant advantage over other platforms by providing a nomad approach where shoppers and merchants can buy and sell goods without payment restrictions, checkout difficulties, and borderline/ financial restrictions.
What is blockchain and why is this technology so important?
- The idea at the core of blockchain has been around since 1991, but it was only after 2009 that the technology got proper recognition, when Bitcoin was launched by the mysterious person (or even a group) called Satoshi Nakamoto. The true identity of Satoshi hasn’t been found until this day, but his technological innovation has succeeded in making the world reconsider the way we create and use money.
- BTC transactions are peer-to-peer, which means that money flows directly from one user to another, without involving authority such as banks, regulators, or governments, etc.
- This is as transparent and safe as it gets — all transactions are traceable, yet can’t be regulated by authorities.
- This technology ensures maximum transparency, reliability and security of transactions. Blockchain can increase efficiency and security across a wide range of industries and businesses (financial sector, charity, supply chains, healthcare, etc).
- Blockchain-based projects pop up every day! This is exactly the technology we are leveraging to create a unique product that will improve millions of lives with technology and new tools.
INITIAL DEX OFFERING
Buyzooka Initial Coin Offering involves a fundraising scheme through which funds will be generated to actualize the aims of developers and build the global decentralized eCommerce platform that changes how things are done in the space. During the Buyzooka’s ICO, anyone will be able to buy the $BZOO tokens irrespective of their location.
As Buyzooka is a global initiative, the ICO will be open to everyone. The $BZOO token will function as utility token as well as a governance token and Token-Curated registry. Holders will be able to use the $BZOO token to pay for goods, exchange the token currency on decentralized protocol exchange plateform when listed, and use the token to vote and to curate list. At the end of the ICO, and Although anyone can sign up on the Buyzooka platform, only users who participate in the Initial Coin Offering will have a free lifetime access to premium features.
Tokenomics
Total number of Tokens Created: 100.000.000,00
Initial supply: 40.000.000,00
Funding Target – 3.465.000,00 Euros
The Coin Offering will be divided into three stages:
Token distribution
ICO Funds Distribution
CONCLUSION
The second wave of commerce ushered in a highscale business model designed to meet the needs of an online global audience. While this development changed how people could access products, it brought along centralization. Centralized eCommerce platforms like Amazon exerted influence over users’ experience on the sites and ended up putting people under their autonomous control. Policies change without prior notice, high commissions are required, some payment methods are unavailable, some goods cannot be shipped to some countries, and the checkout processes are usually stressful. However, the introduction of blockchain and token-based business models has changed how things are done. Buyzooka builds a decentralized eCommerce structure that removes the problems initiated by the centralized platforms. By being built on blockchain technology, Buyzooka allows users, shoppers, and e-retailers to transact without the need for a middleman. Buyzooka erases the problem of cart abandonment by providing a better checkout process through the incorporation of the Nomad API AND ERP software, as well as a provision of the added features of the blockchain technology. As the internet was developed to promote decentralization, Buyzooka reflects that in its representation of its eCommerce platform.
Author: siska55
Profile Bitcointalk Link: https://bitcointalk.org/index.php?action=profile;u=1662258
ETH: 0x77297ff822f498Fe57698EaB1c1edE3dE21e154f
