Bitcoin has been born for more than 11 years, and many currencies other than Bitcoin have been born in the blockchain field, such as Monero XMR Stellar XLM for currency attributes, platform-level ether eth grapefruit eos, and Ripple xrp for international exchange. It is worth mentioning that in addition to Bitcoin, the top ten currencies by market capitalization will undergo a major change every two years.
Ethereum currently runs the most applications, but there are fewer and fewer active users, and it is limited to processing speed issues. Ethereum has been criticized by application developers.
In the field of anonymous coins, Stellar currently has the highest market value, similar to Ripple, and is a decentralized gateway for the transmission of digital currency and fiat currency. It is an open-source protocol for value exchange. It can connect 180 currencies in the world in 2-5 seconds, connect banks, payment systems and individuals, so that digital assets can be transferred quickly, stably, and at a very low cost, reducing transaction costs and time delays caused by cross-border payments. Nevertheless, with the emergence of various stablecoins, the application of stellar coins is limited to a very narrow field.
In view of the fact that many applications in the field of blockchain have not been applied on a large scale by all human beings, the author has been looking for projects that are expected to be widely used in the market. I was lucky to see the introduction of TURBO on Twitter a few days ago, and I think I must introduce to you again:
All online transaction behaviors based on social relationships are social e-commerce in a broad sense, and there are many types: WeChat, content e-commerce with WeChat public account as KOL, and Taobao system live broadcast. Retail cannot escape the three dimensions of people, goods, and markets. Compared to traditional e-commerce, the three dimensions of social e-commerce are decentralized. Decentralization is a feature that is highly consistent with the blockchain technology, which demonstrates from the side that the future social e-commerce must combine with the blockchain and move to a higher level of development.
Let’s start with the decentralization of “people.” It is mainly manifested in the fragmentation of the crowd and the rise of the minority. In the past, most of our idols or opinion leaders were celebrities and it was difficult to interact with them. Now, KOL has been decentralized in social e-commerce. A person who is practices Sanda and a person who fishes on the street may become KOL. Consumers are also changing, engraved from “a mold,” and becoming more and more personalized. Internet users in the post-70s look at information and check the weather forecast; post-80s have instant messaging requirements, which is social, BBS, QQ, WeChat, Momo, Weibo; post-90s join in personal interests, such as Post Bar, Bilibili, Du App, KEEP, and Joyrun Circle, all of which are labeled and have personalities.
Let’s talk about “market”. Concretely speaking, the market is the channel and the transaction scene. In addition to offline stores, there are many social e-commerce companies that are currently starting or have already started. They are based on social relationships and have weak centralization attributes.
Products are decentralized. Previously, the home appliance brand was Meijiusu. Now, the space for small brands is getting bigger and bigger. Procter & Gamble, Unilever and even Lenovo are facing the challenge of being cut into their fine-grained categories by rivals.
For a long time, the core of the formation of a centralized brand layout pattern in China has been the post-60s, Post-70s and post-80s, who experienced material scarcity and formed the brand concept of “big brand = good quality”, or even “import = good quality”. With this value recognition, once the company becomes a big brand, it will be chased by more people, and the brand competition will become higher and higher. Born in the post-90s era of relatively abundant materials, of course, there are good and bad distribution products, but small brands do not necessarily mean poor quality. You see in the Little Red Book, there are often people who recommend differentiates small brands, which is very popular. Therefore, decentralization of a brand or product company is also a new direction.
In conclusion, people, goods, and markets are all decentralized. It can be seen that the future social e-commerce will use the blockchain technology to build the credit system of the entire platform. Most of the current e-commerce companies use a centralized model to operate, and the data is stored in the company’s own database. This raises some concerns that make users worry day and night: 1) the privacy data of user’s purchase behavior is sold or utilized; 2) these privacy receipts that control user’s purchase behavior are stolen by hackers; 3) when trading sensitive products, the leakage of information affects the user’s own image, and even social status and relationships.
It is no exaggeration to say that the billions of Internet shopping users across the entire network actually urgently need the arrival of an e-commerce platform that can protect their private information. TURBO will create a decentralized anonymous social chain e-commerce system for cross-chain payments. Chain-wide merchants and users can conduct social trust payments, cross-border business malls on the chain, and get through multi-currency cross-chain payments, which can also build decentralized anonymous e-commerce transaction platform system and decentralized cross-chain application group based on blockchain technology, and call on global netizens to build an ecosystem together, and thoroughly solve the problems left by the traditional e-commerce history.
If the project can be advanced as described in the white paper, its global impact will be immeasurable.
Due to the limited space and time, today the author has not explained and analyzed the technology in more detail, and I hope you will continue to pay attention to my updates.