Buying’s ODDS System available and operating in all US states.
Kyriacos Pavlou, PhD
Dr Sofoclis Zambirinis
Theo Mourouzis, PhD
Raghu Bala, PhD
Buying.com is a decentralized, e-Commerce Network with cybermediation platform features, allowing businesses and individuals access to products at wholesale prices. Furthermore, Buying.com leverages existing distributors along with its own micro distribution network in order to achieve two-hour threshold delivery time for fast-moving consumer goods. The white paper gives an overview of the Buying.com and its unique value proposition and expands on the technical aspects behind the platform. Specifically, it covers the Algorand blockchain technology used by Buying.com and its Pure Proof of Stake consensus. It provides a solution to the problem of multi-objective optimization of last-mile logistics and discusses several aspects of platform governance as well as the crypto economics of the ecosystem.
The reliable and powerful On-Demand Delivery System is designed with your business in mind! Schedule a driver, track your orders, reduce your delivery costs, and drive orders to your business. In addition to 24/7 live support, our platform provides complete tracking and monitoring of drivers with live feeds and three-way communication for every order. Delivery has never been easier.
Delivery Network to match local delivery at the last mile with Uber-like capabilities for anyone to deliver goods. Real-time Logistics Data: manufacturers, Businesses, and Consumers will have seamless access to real-time shipping data to optimize drop shipping costs provided by a permissionless, public blockchain—more transparent than FedEx. We combine the best of blockchains to offer customers a digital ledger that offers a fraud-proof solution and auto-verifies transactions for a tamper-proof, secure, immutable audit trail.
Buying.com is the first decentralized, e-commerce Network with cybermediation platform features, allowing businesses and individuals access to products at wholesale prices.
Our decentralized distribution will compete with Amazon and Walmart’s reach, leveraging unused garage space in a way that is similar to what Airbnb does for house sharing.
Direct-to-Consumer Technology that enables individuals to band together and unlock bulk- pricing deals, thus creating economies of scale. The expanded buying power draws similar advantages as Costco or Alibaba.
Now anyone can become a node on the Buying.com network by staking tokens and leveraging existing storage in their garage to become a micro distribution center.
Delivery Network to match local delivery at the last mile with Uber-like capabilities for anyone to deliver goods, by the decentralization of e-commerce by turning every garage into a distribution center.
Real-time Logistics Features that enable Manufacturers, Businesses and Consumers to have seamless access to real-time data, thus optimizing the dropshipping costs.
We combine the best of blockchains to offer customers a digital ledger that offers fraud-proof solution and auto-verifies transactions for a tamper-proof, secure, immutable audit trail.Integrated backoffice e-commerce processing technology with our Snapforce CRM’s Prodigy Edition, the latest in CRM intelligence. (Completed Operating)
Access to hundreds of brand names for sale through e-commerce storefronts. Provided by Buying.com’s internal operations of Dropshipper.com (Completed Launching)Decentralization
The project aims at decentralizing e-commerce operations in the following ways:
- Group Buying: Buyers in the Buying.com ecosystem can form buying groups to increase volume of purchases thereby creating bulk purchasing power and driving down costs.
- Hyperlocal Micro-Fulfillment: Just as anyone is allowed to convert their spare space into rentable space on AirBnB, any participant in Buying.com can now become a fulfillment partner by turning their spare garage space into a hyperlocal micro-fulfillment center. And similar to how Uber or Lyft enable every day to become livery drivers, any person with a valid driver’s license and a good track record can qualify to do deliveries in the network.
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Blockchain
The Buying.com system runs on the Algorand blockchain. This blockchain is known for its speed, fair consensus algorithms and scalability. The BUY token is developed as an Algorand Standard Asset, or ASA. In addition, to facilitate ease of trading on Decentralized Exchanges, a wrapped version of the token called WBUY has been developed that runs on the Ethereum blockchain. The tokens have passed security audits by CoInspect.
The primary use case of the token is to help promote the BUY token is to encourage customer loyalty through the issuance of tokens as a reward for fulfillment orders placed. These rewards can be redeemed for goods and services purchased within the network. The blockchain is currently used to store rewards transactions in the form of immutable records.
Consumers and businesses want to receive discounts on large-purchase pricing. However, fulfillment for the number of MOQ purchases is more expensive than most individual consumers can afford.
WeBuy* – We leverage the purchasing power of millions of consumers and small businesses. Our Prime Protocol feature, WeBuy*, will hit MOQ levels of retailers, manufacturers, wholesalers, or liquidators to offer the best possible pricing on products. Each individual will receive the best pricing by combining their purchasing power with other people interested in buying the same products.
Chargebacks are a multi-billion dollar per year commerce problem costing retailers billions.
Utilizing Buying.com’s Prime-Protect technology, transactions will be escrowed until customers receive goods and are satisfied with their cleared purchase. Funds release cleanly without any chargebacks to retailers.
Centralized warehousing limits the flow of products, increases the costs involved with shipping product, and increases the price to end consumers.
iStore* by leveraging latent space in warehouses, garages, and storefronts, individuals can become a part of Buying.com’s decentralized distribution network. Much like AirBnB turned houses and spare rooms into hotels, we plan on turning latent spaces into hyperlocal distribution points. The individuals that leverage their space will earn revenue by becoming a distribution node. This model can help smaller manufacturers of products without mass distribution scale more efficiently. If they choose to list their inventory on Buying.com, they will join a preexisting network of national products and have access to a hyperlocal distribution point within neighborhoods
Hyperlocal last mile delivery to consumers.
Much like Uber transformed ride sharing, our network of drivers and distributors form our hyperlocal distribution points. These distribution points help our ecosystem serve end consumers in the last-mile execution. We will do it faster and cheaper.
Retailers and e-commerce entrepreneurs are at a deficit of data, logistics, reach, and infrastructure to compete with many of today’s big e-commerce players. They are unable to keep up with the industry growth, and many sellers face mounting problems in trying to maintain or scale.
Buying.com’s Genesis* data tier will allow all retailers, e-commerce players, distributors, wholesalers, or peer-to-peer networks to upload their inventory. The asking price, condition, and description of every item in Genesis will be known. This information will be geo-fenced so that it is unique to each user’s location.
E-commerce delivery and speed.
E-commerce-on-Demand* combining Genesis* and our own IDeliver* infrastructure, many of today’s FMCG (fast moving consumer goods) will be ordered off the Buying.com app and delivered to a consumer’s door within 2hrs. This fast-moving delivery system will empower all e-commerce and retail players to not only compete, but in many cases, exceed other giants in the industry that have distinct advantages. Our advantages will be disruptive and transformative in the e-commerce sector.
Buying.com is poised to be a major player in the e-commerce space by disrupting the status quo, bringing about efficiencies in the ecosystem benefiting both the supply and demand sides of the equation. Utilizing state of the art distributed ledger technology (blockchain) provides Buying.com new asymmetric advantages that enables it to bring about market efficiencies which were not available in earlier generation platforms.
We plan to do this through the following groundbreaking innovations:
- Microdistribution— We offer decentralization of e-commerce by turning every garage into a distribution center. In addition to distribution centers run by Buying.com, now anyone can become a node on the Buying.com network by staking tokens and leveraging existing storage in their garage to become a microdistribution center. This solves the last mile logistics issue that has plagued e-commerce for the longest time. It is similar to how Airbnb turns every spare room in a home to a hotel room, or how Uber leverages excess driving capacity to turn every automobile into a taxi.
- Bulk Pricing— Enables consumers to receive direct from manufacturer pricing through bulk order quotes unlocked by achieving the Minimum Order Quantity (MOQ).
- Real-Time Logistics— Leverages blockchain solutions to deliver real-time logistics data, provides transparent, smart, contract-enforced, audit trails, integrates PROXEUS, & protects users with data encryption such as the SHA-protocol that will keep information secured. Manufacturers, Businesses and Consumers will have seamless access to real-time shipping data to optimize dropshipping costs provided by a permissionless, public blockchain.
- Cryptocurrency— Utilizes its own cryptocurrency as a token which is used for transactions on our system
- Transparent and Auditable— We combine the best of blockchains to offer customers a digital ledger that offers a fraud-proof solution and auto-verifies transactions, leaving behind a transparent, immutable audit trail.
Phase 1
- Build IOS and Android App for Driver Network (Completed)
- Complete monitoring center for last mile delivery (Completed)
- Complete all GPS tracking and driver notifications. (Completed)
- Complete partnerships with driver’s centers (Completed)
- Complete block chain wallets for businesses for payment processing (Completed)
BUY Token Current Uses:
- Used for staking tokens in order for Microdistribution
centers to participate - Used for staking tokens in order for Delivery operators to
participate - Used as rewards when a user recommends Buying.com to
another service, and the former receives rewards in the
form of tokens - As a form of payment in the Buying.com network
specifically for shipping - As a form of payment to Microdistribution centers and
Delivery operators for providing a service
Phase 2
The first e-commerce protocol that allows consumers to buy direct from manufacturers, wholesalers and distributors. It’s the next generation Decentralized E-Commerce platform that harness the power of distributed ledger technology along with innovations in Bulk Pricing. Real-time Logistics, E-Commerce and Cryptocurrency to use the token in the ecosystem for payment of products.
- Decentralized Distribution to compete with Amazon and Walmart’s reach leveraging existing latent capacity of garage space similar to the Airbnb model.
- DropShipper.com storefront technology that is superior to $17 Billion Shopify.
- Direct to Consumer Technology that provides Buyers to group purchases together to meet Minimum Order Quantities to gain economies of scale—with advantages of Costco or Alibaba.
- Built-in BUY Tokens Cryptocurrency with incentive schemes for Node operators to help scale the network
- Delivery Network to match local delivery at the last mile with Uber-like capabilities for anyone to deliver goods.
- Real-time Logistics Data: Manufacturers, Businesses, and Consumers will have seamless access to real-time shipping data to optimize drop shipping costs provided by a permissionless, public blockchain—more transparent than FedEx.
- We combine the best of blockchains to offer customers a digital ledger that offers a fraud-proof solution and auto-verifies transactions for a tamper-proof, secure, immutable audit trail.
- Integrated back office e-commerce processing technology.(Snapforce.com)
Federated Byzantine Agreement
The primary consensus algorithm used is the Federated Byzantine Agreement, as exemplified in the payment of dividends or staking by nodes. For node staking, the node operator will be a Microdistribution center or a Delivery operator, and they will be allowed to store or carry goods commensurate with their stakes. In other words, if Microdistribution center A stakes 50,000 tokens but Microdistribution center B only stakes 10000 tokens, then the former will be allowed to store 5x (five times) the value of merchandise compared with the latter
When packages are delivered to a buyer, if the package requires a delivery signature, that signature would be captured over the Buying.com mobile application for Delivery Partners. This Proof signature can be verified by the Buyer in a dispute over a mobile app. Without a signature when one is required, a transaction will not be approved.
Metcalfe’s Law
The Buying.com network with its Direct-to-Consumer approach in being able to aggregate purchases is akin to growing a network of users. The larger the population of buyers, the better the chances of fulfilling an MOQ deal opportunity. But how does one model the value of the Buying.com network?
For this, we can invoke Metcalfe’s Law,11 which states that the value of a network is proportional to the square of the number of connected users of the system (n2).
- Admin 5% 50,000,000
- Legal 1% 10,000,000
- Liquidity 5% 50,000,000
- Advisor / Partners 12% 120,000,000
- Marketing 6% 60,000,000
- Token Sale 28% 280,000,000
- Strategic Acquisitions 5% 50,000,000
- R & D 17% 170,000,000
- Ecosystem 21% 210,000,000
Round |
Seed |
Private |
Public |
Total |
|---|---|---|---|---|
| Sale% | 62.5% | 16% | 21.5% | 100% |
| Tokens | 175,000,000 | 45,000,000 | 60,000,000 | 280,000,000 |
| Price | .015 | .020 | .025 | |
| USD Raised | 2,625,000 | 900,000 | 1,500,000 | 5,025,000 |
| Initial Release | 14,000,000 | 5,400,000 | 60,000,000 | 79,400,000 |
| Legal | 0% | Locked indefinitely unless necessary |
| Strategic Acquisitions | 0% | Locked indefinitely unless necessary |
| Research/Development | 0% | 6 month lock 5% released monthly |
| Marketing | 0% | Locked for 12 months 5% released monthly |
| Liquidity | 0% | 30 day lock with a 5% released monthly |
| Ecosystem | 0% | Locked 6 months |
| Admin | 0% | Locked 6 months |
| Advisors/Partners | 0% | Locked 12 months |
| Seed | 8% | 8% initally, Remainder locked for 6 months |
| Private | 12% | 12% initally, daily release for 5 months starting 1 month after TGE |
| Public | 100% | 20% at TGE, rest released monthly for 4 months |
Buying.com will utilize Algorand’s ASC1 to keep track of order details. How we achieve this, is by storing all order details of a day, made to Buying.com, stored into one IPFS file. The hash of the IPFS file is stored in another IPFS file. The second IPFS file acts as an index file for finding the order details of a particular day. This second IPFS file has the first one’s hashes, mapped based on dates. Every time there’s an update to the second IPFS file, ie, end of each day, when the entire order details of a new day are added to one IPFS file and its hash generated and stored in the second file, the hash of the second IPFS file changes. Each of the changed hashes is stored inside our ASC1, as a global variable. This system of storage allows us to query the order details of any particular day, upon need.
Buying.com will utilize the Algorand Standard Assets protocol to launch BUY tokens on Algorand.ASA requires to set a few immutable asset parameters during the creation of a new asset.
2. Asset Name – BUY TOKEN
3. Unit Name – BUY
4. Total -1 BILLION (maximum supply)
5. Decimals – 6 (divisible up to 6 decimal places, 0.000001 being the smallest unit of BUY)
Jean Marie Gabriel, designer with a great vision, is the Founder & CEO of Buying.com. Packed full of passion and a zeal to do something different, Jean came up with the idea of the Buying.com platform for its affiliated company named Dropshipper.com. Under her leadership, Buying is passing through a stunning transformation from the Ico start-up to the final design that it began with. With lots of successful and groundbreaking business ventures Jean has demonstrated an unmatched mindset and foresight that would take Buying.com to its apex. (Last successful exit Auction.com). With her direction the company has grown throughout the United States offering their delivery platforms for all businesses which is Phase 1 of the Buying journey. Jean is pushing to complete Phase 2 on schedule for the Buying.com decentralizing and fulfillment operations for e-commerce.
Lead Block Chain Designer for Buying.com. Mr. Raghu Bala CEO of Netobjex.com was previously an executive with Yahoo, Infospace, PwC, and with 3 successful startup. He also teaches MIT Sloan School of Business/Computer Science and AI Laboratory’s course on the Implications of Artificial Intelligence on Business, as well is a Tutor for MIT’s Blockchain course. Mr. Bala was winner of 2016 Best Abstract in Best Wearable Medical Device category at the AI in Medicine conference, and in 1993 winner of the Best Thesis Award on Temporal Databases at the Hartford Graduate Center Conference. He holds an MBA in Finance from Wharton MBA, an MS in Computer Science from RPI, has been a Columbia University Adjunct Lecturer, published author (Microsoft Press, Macmillan) and speaker at several major conferences including IoT Congress, Google IO, and more.
Utkarsh Khare, the Chief Technology Officer, has currently been leading
Buying.com’s architecture, development, and operation of the company’s IT infrastructure, technology platforms, services, and applications for the last few years. Through his innovative initiatives, he, in collaboration with the business leaders across the organization, adds value to existing and upcoming Buying.com products, focusing on their upgradation and performance improvement constantly. The CTO explores the emerging technologies and adopts the best ones to increase products’ efficiency and user-friendliness for the on-demand ecommerce community. Khare possesses extensive experience of 15 years in the Information and Technology industry with many successful prototypes, concepts, and solutions to his credit. He has extensively been involved in overseeing all technology functions, including product development, product architecture, professional services, VC funding, domains, and e-commerce management, block chain, and crowdfunding.
Buying.com COO Joe Riviello joined the company at its inception in 2018, bringing over 20 years of extensive experience in conversion-centric e-commerce web technologies, digital marketing strategies, user experience design, marketing management, business planning, and leadership.
As a recognized e-commerce and marketing expert with proven results scaling business operations, Joe has advised multiple Fortune 500 companies on strategic growth initiatives with a specialization in conversion-centric user experience and cutting-edge solutions that maximize company growth and increased profitability. Joe is also the CEO of Dropshipper.com, a division of Buying.com which is an e-commerce platform that helps startups launch, manage, and grow their ecommerce drop shipping businesses. Joe is a strong business development professional with a passion to help businesses reach their potential. Some of his recent and past client experiences included brand names such as Jack Schwartz Shoes, Inc., Legacy Cuisine, Apex Protein Snacks, GiftBasket.com, and Invenergy.
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