Reviewing as mining? Matocol will revolutionize e-commerce with blockchain

“One will never wake up a person who is pretending to be asleep, but those couriers can”, “All depends on express packages”, “If one’s girlfriend can’t open the bottle cap, give her an express package”…

People may be familiar with these jokes, which show the dependence of current consumers on online shopping. According to the research, online shopping users in China has reached 500 million in 2017, with the total transaction volume reaching 29.16 trillion CNY, up to 11.7 percent year-on-year.

The rapid developments of e-commerce platform and the consumers’ shopping habit have attracted more merchants to transform from offline to online. Taking Taobao as an example, there are hundreds of search results of different merchants under the same keyword. Then how can consumers quickly select the most cost-effective one among the numerous products? Therefore, the roles of transaction volume, credit rating and commodity rating are obvious, because they directly affect the purchase direction and decision-making of consumers.

In order to get more customer traffic, most of the merchants prefer to brush to manipulate transaction volume and reviews rather than pay higher promotion in the platform, which give birth to the network “brush” behaviors. The“hot sale”illusion leaves no room for consumers to discern product authenticity, which seriously infringes of the interests of consumers. And the indulgence of platform makes this phenomenon so intensified that the e-commerce is lack of trust result from unfair competition.

Matocol Protocol, which provides a new solution for traditional e-commerce based on blockchain technology, will be a global e-commerce platform who builds an intermediary, open and transparent operating environment.

A decentralized user review system to achieve the autonomy rights for all parties

Matocol will create a decentralized review system to together the three parties and maintain their interests. The Matocol Protocol also provides a comprehensive governance mechanism and friendly programming tools for e-commerce platform developers, so that developers can directly connect other platforms to the Matocol Protocol, and introduce the Matocol Protocol’s overall mechanism to build a distributed e-commerce system.

Word of mouth determines customer traffic and creates a healthy competitive environment

E-commerce DApps, developed based on the Matocol Protocol, are different from traditional e-commerce platform. The traditional e-commerce merchants rely on advertising for consumer flow. But in those platforms based on Matocol Protocol, consumers decide the ranking and visibility of the merchants. The higher the consumer ratings are, the higher the rankings of merchants are. Healthy market competition is based on the review of consumers, which will save advertising and promotion fees and give more preferential policies to the consumers.

Reviewing as mining: incentive mechanism ensures fair reviews

Matocol Protocol allows online shopping consumers to leave real reviews. Blockchain technology will protect the reviews from tampering with or deleting. At the same time, other consumers judge the quality of the products and the service according to the scores. To motivate consumers to objectively evaluate the merchants, the Consumer Review Incentive Mechanism will set up an incentive closed-loop based on Token economy. Consumers can get Token rewards by leaving reviews. At the same time, the incentive mechanism will create a new concept of “reviewing as mining”. Token holders will get reward in accordance with the amount and the time of Tokens they hold.    

The Matocol protocol will revolutionize the traditional e-commerce. We believe that in the future, the e-commerce chaos will be resolved with the innovation of blockchain technology, so that we will witness and enjoy the new open and transparent e-commerce ecosystem built by trust.

Media Contact
Company Name: Insight Data Talking Institute
Contact Person: Ronald Sims
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Phone: (+44) 20 7698 1963
Address:215-217 Charlotte Street
City: London W1T 1RJ
State: England
Country: United Kingdom
Website: http://www.matocol.com