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Community

[BLOG] GUHADA and E-commerce

TEMCO | 04.30| 381

GUHADA, an online shopping mall that will change the e-commerce market

An unexpected increase in the growth in the e-commerce market.

The e-commerce market has shown unexpected growth in recent years. Based on the statistics from the Korean government, the growth of the e-commerce market in Korea increased from 39 Billion in 2014 to 97 Billion in 2018, almost twice within the years. As the growth of the e-commerce market continues, the product purchase through the e-commerce markets has become more popular among the consumers.

Online shopping malls outshining off-line stores.

The e-commerce market shows not only the growth in quantity but also in quality as well. As the e-commerce market increases its quality, online malls are overcoming its limitations, and it is expected that soon the online malls will provide services that are better than the off-line stores.

A company called “Coupang” in Korea provides delivery service called “rocket-delivery”, a delivery service that is quick enough to have your product delivered within the same day within hours perhaps in minutes for closer locations. Also, a company called “T-Mon” have adopted the “Deep Learning’ technology for the first 3 months of its operation to learn the consumption pattern and now provides a real-time suggestion service, “For You” to its customers.

On the other hand, there are still risks of inconvenience exist for online malls. To overcome the experience of the inability to test or try on clothes or products before purchasing, channels such as ‘Omni Channel’ was introduced. The Omni Channel plans to combine the advantages of the channels and off-line stores and provide the most optimal service and change the overall shopping experience of the consumers.

The upcoming e-commerce market is looking forward to overcoming the limitations of the existing systems and even become much more accessible than the off-line stores. Xiaohongshu.com is a platform that adopted the SNS functions to the online shopping malls, leading the e-commerce industry. Also, video content combined V-commerce as come to existence as well, adding more fuel to the accelerated growth of the e-commerce market.

The innovation that GUHADA will deliver.

  1. The security without worries of hacking
    Due to the convenience and easy access to online shopping malls, it is hard to avoid the hacking issues. Even still, there are not many online shopping malls that suggest or come with solutions for such hacking issues. However, GUHADA uses blockchain technology, providing realistically impossible of hacking and showing competitiveness in the e-commerce industry through the top security.
  2. GUHADA’s 6 security functions
    It is very important to determine authenticity in the luxury market, and GUHADA offers 6 security functions to determine the authenticity of luxury goods.

    The security functions of GUHUDA include:
  • Product authenticity warranty based on Smart Contract
  • Vendor verification system (VVS)
  • Online community channels and blacklist operation
  • Blockchain-based ownership verification
  • Registering product data on the blockchain to prevent manipulation of data
  • Insurance service for defective items or counterfeits

These security functions will enhance the trust between the sellers and the consumers and prevent counterfeit problems. GUHADA will be the only one to obtain such a large number of safeguards.

3. Integrated payment system

GUHADA will contribute the commercialization of cryptocurrencies by providing integrated payment including cryptocurrency payment system as well as basic payment methods such as credit cards, virtual bank accounts, bank transfers, mobile payments, and more.

4. Upload distribution history data through NFC chip

GUHADA can motivate the luxury used market by using the NFC chip. NFC chips can be inserted into the products sold at the store to trace the entire distribution history, and related information will be recorded on the blockchain. If the product is sold again through GUHADA platform, the NFC chip can easily confirm the sales price, purchase date, and distribution history that are essential for the second-hand transaction. This can be seen as an innovation to motivate to the used market.

5. GUHADA’s online community

Within GUHADA’s online community, vendors and consumers can receive reward points through participation activities. Activities include creation of contents such as fashion trends and product reviews, identification of authentic products and more. These points can be transferred to TEMCO tokens and can be used for purchasing products.

GUHADA platform can be a new game changer in the luxury e-commerce industry. TEMCO is concentrating on platform development and aiming to launch in the second half of 2019. GUHADA platform’s launch is highly expected.

TEMCO: Innovative Supply Chain Data and E-Commerce Solution through Blockchain and Smart Contract Technology.

▶TEMCO Chatroom: https://t.me/temcolabs
▶TEMCO Official Website: https://temco.io


[BLOG] GUHADA and E-commerce was originally published in TEMCO on Medium, where people are continuing the conversation by highlighting and responding to this story.

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