The Purchasing Power Of Millions In The Palm Of Your Hands.
Buying.com Prime Block Chain Protocol enables social group buying with minimum order quantity pricing allowing direct to consumer from manufactures suppliers and wholesalers delivered directly to consumers doorstep



For the first time in history each individual will have
the buying power of millions
in the palm of their hands!

For the first time in historyeach individual will have
the buying power of millions
in the palm of their hands!

Check the price delivered

From manufacturer to consumer

VS

Current retail system

Meet
Buying.com’s

On-Demand Delivery System

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.
This all-in-one order management platform handles external orders -- including Uber Eats, GrubHub, DoorDash, Slice, and Postmates -- as well as internal orders. Every order is tracked the instant a guest begins to place an order all the way through the delivery stage.

Focus on what you do best: making delicious meals for hungry diners.
We’ll handle the rest.

E-commerce Reinvented

Buying.com is 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 harnesses the power of distributed ledger technology along with innovations in Bulk Pricing, Real-time Logistics, E-Commerce and Cryptocurrency.

EXECUTIVE SUMMARY

Buying.com is a next-generation, decentralized, e-commerce Network that harnesses the power of distributed ledger technology along with innovations in Bulk Pricing, Real-time Logistics, e-commerce and Cryptocurrency.

Top 10 Reasons How Buying.com is changing the face of E-Commerce

1. World’s first vertically integrated e-commerce Platform on Blockchain.
2. Decentralized Distribution to compete with Amazon and Walmart’s reach leveraging existing latent capacity of garage space similar to the Airbnb model.
3. DropShipper.com storefront technology that is superior to $17 Billion Shopify.
4. 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.
5. Built-in BUY Tokens Cryptocurrency with incentive schemes for Node operators to help scale the network
6. Delivery Network to match local delivery at the last mile with Uber-like capabilities for anyone to deliver goods.
7. Real-time Logistics Data: Manufacturers, Businesses, and Consumers will have seamless access to real-time shipping data to optimize dropshipping costs provided by a permissionless, public blockchain—more transparent than FedEx.
8. 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.
9. Integrated backoffice e-commerce processing technology comparable to Salesforce.com.
10. Access to hundreds of brand names for sale through e-commerce storefronts.

MARKET OVERVIEW Rise of E-Commerce

In July 1995, Amazon.com opened its doors to the world, offering internet users the ability to buy books in its online store, billed as “Earth’s Biggest Bookstore.” Just four years after its launch, Amazon.com reached $1 billion in sales — an astonishing feat that took Macy’s 134 years to achieve. Today, Amazon is an e-commerce juggernaut with 100 million customers worldwide enrolled in its Amazon Prime program and nearly $178 billion in 2017 net revenues. Amazon.com’s resounding success has had a material effect on U.S. retail e-commerce sales, which were $453 billion in 2017 up 16% since 2016. The company is currently valued at $830 billion. The 2018 figure is less than 8% of the total U.S. retail sales, which Statista estimates at $5.2 trillion. Other industry analysts believe that the share of e-commerce sales is much higher. Forrester Research projects that U.S. e-commerce sales will account for 17% of retail sales by 2022, up from 13% in 2017. If current trends persist, the more time that goes by, the more purchases will take place digitally. Forecasts for global e-commerce sales are significantly higher. eMarketer predicts that e-commerce sales around the globe will reach 4.5 trillion by 2021:

Given the acceleration of e-commerce sales in the past few years, it’s not inconceivable that e-commerce sales could reach 20% of total retail sales by the mid-2020s and top 30% by 2030.

Retail E-Commerce Sales Worldwide

Buying.com's Prime Protocol
Value Proposition

There exists many pain points in today's E-commerce System.
Buying.com's Protocol will solve these.



problem 1

the problemConsumers 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.

Our Solution

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.

problem 2

the problemChargebacks are a multi-billion dollar per year commerce problem costing retailers billions.

Our Solution

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.

problem 3

the problemCentralized warehousing limits the flow of products, increases the costs involved with shipping product, and increases the price to end consumers.

Our Solution

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.

problem 4

the problemHyperlocal last mile delivery to consumers.

Our Solution

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.

problem 5

the problemRetailers 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.

Our Solution

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.

problem 6

the problemE-commerce delivery and speed.

Our Solution

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.

Why BUY Token

01.

World’s first vertically integrated e-commerce Platform on Blockchain.

02.

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.

03.

Snapforce.com's Technology is superior to Salesforce

04.

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.

05.

BUY Tokens have built-in incentive schemes for Node Operators which will enable scaling in the network.

06.

Delivery Network to match local delivery at the last mile with Uber-like capabilities for anyone to deliver goods.

07.

Real-time Logistics Features that enable Manufacturers, Businesses and Consumers to have seamless access to real-time data, thus optimizing the dropshipping costs. Our permissionless, public blockchain is more transparent than FedEx.

08.

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.

09.

Integrated backoffice e-commerce processing technology comparable to Salesforce.com.

10.

Access to hundreds of brand names for sale through e-commerce storefronts.

The Buying.com model offers retailers several advantages:

  • Cash Flow increase — Since e-merchants do not have to stock inventory, no payment is due until products are sold.
  • Scalability— Products can be consumer tested, or new ones added quickly, without the burden of having to order in bulk, while avoiding slow-moving inventory, which ties up valuable time and capital. In a retail industry survey by supply-chain software vendor SPS Commerce, 40% of respondents said they expect more drop-ship vendors in the next 5 years.
  • Lifetime customer value— - Buying.com gives manufacturers the ability to consistently expand product selection, keep existing customers engaged, and invite customers to return to explore new merchandise.
  • Cost reduction— - Each time a product moves through the supply chain, there are associated costs. Ocean freight services, port operations, LTL and FTL services, and warehouse employees all get added to the cost of goods sold. Some product offerings would deliver a higher profit margin, if they were dropshipped.
  • Virtually unlimited inventory— - One key reason for the existence of the dropshipping industry is to help retailers and suppliers combat inventory inefficiency: the $800 billion challenge of overstock clearances juxtaposed with out-of-stock shelves. By tapping into the supply chain further up the line, e-merchants can theoretically gain access to virtually limitless inventory.

Microdistribution through Decentralized Networks

We have first mover advantage in that through technological innovation, we have decentralized our platform. Unlike the competition which have centralized systems that require heavy investments in their distribution network (as witnessed by Amazon’s acquisitions of Whole Foods, and Toys R’ Us, and the setting up of a second HQ operation), we have a decentralized distribution network. Similar to Airbnb, Uber and Lyft, we are a two-sided platform that links buyers to sellers. In this equation, what has been traditionally most difficult has been the process of getting the product to the buyers. In our model, where we would still operate and have various distribution centers, the power of our model is we can “turn every garage into a distribution center.” This is a game changer.

  • Asset-Light— Individuals, small businesses and enterprises can now become distribution centers in our model. That requires them to become stake holders (See section on “Staking Tokens”). This makes our business model, asset-light without heavy investments in infrastructure while enjoying all the advantages of global distribution.
  • Leverages latent unused, latent capacity— Similar to Uber and Airbnb, our model leverages latent-free capacity in the form of storage space in garages.
  • Delivery Network:— Storage of products is one half of logistics. The other half is delivery. In our model, similar to Amazon Fresh, we plan to leverage drivers to join our network to deliver items. The garage operators can also play a dual role in the delivery aspect if they choose to do so. The Delivery role also requires Staking.
  • Peer to Peer, Last Mile Delivery— With microdistribution into every neighborhood, we now unlock the solution to one of the most expensive and difficult problems facing e-commerce. Inexpensive last mile delivery. Amazon due to scale, gives away free shipping by mandating an annual signup fee to Amazon Prime to underwrite the program. This is similar to Costco’s annual subscription fee. We don’t need to resort to such fees because we have the last mile covered at a more granular and inexpensive level.
  • Faster build-out of global distribution network— - Unlike the build out of expensive owned and operated distribution centers which not only costs money but also takes time, since we are leveraging latent supply of unused space, our time to market is much quicker.

Direct to Consumer Pricing

Many of us have experienced the benefits of group buying and wholesale pricing from Sam’s Club, Costco or even Alibaba. After years of development, Buying.com has created a powerful e-commerce app — called DPA or Direct Product App. This is the heart of our Tipping Point Technology. It allows any deal placed through the company’s platform to meet what is called the Minimum Order Quantity, the amount necessary to obtain the best possible pricing direct from manufacturers, wholesalers, or exclusive distributors.
The company has developed a working MVP that will allow e-commerce businesses to work together to achieve the MOQ and unlock bulk pricing that would not otherwise be available. If the B2B businesses do not meet the MOQ, then Consumers will be able to use the DPA App to access the best pricing, helping businesses meet their minimum order. This will not take away from businesses but rather enhance them by further enabling activation of the best prices for everyone. The app will be available on both Android and iOS mobile platforms.

Benefits for E-Commerce Stores

DPA will level the playing field for e-commerce stores, putting them on equal footing with large retailers.

  • Consumers to benefit from lower bulk pricing by harnessing the combined purchasing power of millions.
  • Manufacturers will now deal directly with consumers without limiting their market reach due to minimum order quantity requirements. DPA showcase technology lets them offer special product deals or liquidate overruns without being subject to the whim of volume or channel buyers because they can reach out directly to consumers.
  • Our DPA app’s mobile B2B and B2C platform lets e-commerce sellers and individuals purchase products directly from manufacturers using a simple iOS or Android mobile app. For the first time, small sellers and individuals will be able to buy at prices that before were only available to big-box retailers.
  • The DPA harnesses the buying power of the masses to offer direct product pricing on millions of items worldwide. Manufacturers will have access to a platform that connects them directly to end-users while still meeting their required MOQ.

Benefits for Retail Market

The DPA platform addresses two basic retail market challenges:

  • Customers would like to buy products at wholesale prices but can’t fulfill the minimum order quantity.
  • Wholesalers want to increase sales by reaching retail customers, but that would require additional processes, logistics, etc., and result in higher costs.

FEATURES OF DPA TECHNOLOGY

The DPA platform addresses two basic retail market challenges:

  • Tipping—Buying.com will utilize the concept of ‘tipping,’ which requires a certain number of buyers to unlock one or a series of discounts for the entire group. By sourcing through the 1.5M product (and growing) available through DropShipper.com, the B2C strategy is uniquely positioned to offer discounts on a range of products that is not readily available elsewhere.
  • Scarcity—- Buying.com will utilize inventory limits (real and perceived) to drive demand and response. By running only a limited number of deals per day or structuring deals in a way to build demand (think Yeezy by Kanye). Buying.com will create demand through promoting great deals with very limited (real and perceived) quantities.
  • Time Constraints— Buying.com will utilize proven techniques to leverage limited-time deals to drive demand and response. The consistent delivery of deal expiration messages via highly targeted e-mail and push notifications such as “one hour deals” or “15 minutes left” will help move limited inventory and build allure to products with deeper inventory.
  • Social Sharing— Buying.com will leverage the innovative system of incentivized social sharing pioneered by ReferLocal. Deals are shared and available for purchase by connected friends, exponentially increasing exposure through social channels, and driving even greater demand for products. This opportunity provides Buying.com with an army of free marketers all pushing product through their own social networks.

E-commerce heats up 5 TRILLION DOLLAR MARKET

The e-commerce industry is heating up as sales are expected to triple between now and 2025. Sectors within e-commerce are growing in popularity as well alongside the industry as it scales. Activity in both the e-commerce and related blockchain sectors has intensified in the past few months.

E-commerce leaders see blockchain's distributed ledger and immutable data source as the foundation of a new merchant system and a superior way to grow global e-commerce.

7 7

TRADITIONAL METHOD

Multiple price hikes throughout the supply chain, passing costs onto the consumer.

The current retail system’s PROBLEM

In the current retail system, many consumers are unable to buy directly from manufacturers, wholesalers, liquidators, or distributors because of what is called the Minimum Order Quantities (MOQ).

For instance, pretend you want to purchase a loveseat at Kohls for $875. Most buyers in the market would purchase that specific loveseat, but the price is a bit out of their budget. However, the loveseat can become cheaper if you can meet the MOQ, or the minimum number of products that need to be ordered to achieve bulk pricing.

For this particular loveseat, the MOQ is 50 units. Let’s face it: you probably don’t want to purchase 50 loveseats unless you’re a furniture tycoon. In the current system, since you can’t buy 50 units, you are unable to achieve bulk pricing.

PROBLEM DESCRIPTION

E-Commerce Landscape

The current ecosystem for e-commerce has evolved from the mid-90s during the first wave of Internet technologies, with most major brands and retailers maintaining a web and mobile e-commerce presence. In addition, several dominant players such as Amazon.com, Walmart.com, and others have emerged for mass market retailing of a wide variety of products.

Current State

If one were to deconstruct the e-commerce ecosystem, it would involve several moving parts and dominant players in the segment:

  • Storefronts— Shopify.com.
  • Payment Processing— Paypal, Stripe.
  • Shipping and Fulfillment— FedEx, UPS.
  • Backoffice processing— Salesforce.com.

As more consumers go online to buy products each day, the demand for e-commerce continues to grow. However, inefficiencies persist in this segment, which includes:

  • Last Mile Distribution: This is a problem not only for small retailers but big retailers as well. Amazon has recently purchased Toys R’ Us and Whole Foods to some extent to expand their distribution channels. Even then last mile peer to peer microdistribution is not yet a reality.
  • Purchasing Power: While more consumers go online to purchase goods and services, there is no efficient mechanism to consolidate their purchases to derive wholesale pricing.
  • Fragmentation: Smaller retailers do not have the access to a vertically integrated service platform to pose a serious threat to larger retailers such as Amazon. This results in them having to use a fragmented set of services as shown above.

The B2B e-commerce market is one of the largest markets in the world, estimated at $7.7 trillion in the U.S. in 2017, according to Statista. Much of the market’s growth will come from digital commerce. The researcher reports that B2B e-commerce is triple the size of the consumer e-commerce market, which was $2.3 trillion in 2017 (see chart, page 3).
Despite the tremendous market growth, e-commerce has two major, and closely related challenges — the inability of small retailers and consumers to obtain the lowest possible pricing by purchasing directly from manufacturers, paired with the inability of manufacturers and other wholesalers to efficiently ship product to smaller retailers and consumers.
The U.S. consumer e-commerce is dominated by Amazon.com, which has an estimated 44% of total U.S. e-commerce market. The B2B e-commerce storefront market is served by three major players: Shopify, BigCommerce, and Volusion, with BigCommerce taking up nearly 90% of the entire market space for themselves.

OUR SOLUTION

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.

Groundbreaking Innovations

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.

Buying.com’s SOLUTION

In reality, the couple does not need 50 love seats. NOW for the first time in history, each person will have the buying power of millions in the palm of their hand. The power of the blockchain combined with Buying.com’s Tipping Point Technology will directly connect consumers with manufacturers enabling consumers to achieve bulk pricing alongside businesses by using our platform.

A promotion can be placed directly on the Buying.com platform by the manufacturer. Once on the platform, businesses will be given first access to bulk pricing deals. If the MOQ quantity remains unmet, then consumers will be granted access to the promotion. This will be done using Smart Contracts along with Buying.com’s Tipping Point Technology.

Once a deal is placed on Buying.com, and the MOQ is met, our smart contract solution triggers the order from the manufacturer, sending it to our warehouses. The products are individually dropshipped to each customer with the same ease-of-use that they would gather ordering from any store online.

The exception is that they are benefitting from the MOQ pricing. Buying.com’s native coin, the BUY token, will be the currency for all payments within the ecosystem alongside more traditional forms of payment. Utilizing the BUY token, customers will realize further discounts and also not have to deal with conversion issues.

Buying.com's METHOD

Eliminating price hikes throughout the supply chain, passing huge savings onto the consumer.

Benefits for Retail Market

The DPA platform addresses two basic retail market challenges:

  • Customers would like to buy products at wholesale prices but can’t fulfill the minimum order quantity.

  • Wholesalers want to increase sales by reaching retail customers but that would require additional processes, logistics, etc., and result in higher costs.

Benefits for E-Commerce Stores

DPA will level the playing field for e-commerce stores, putting them on equal footing with large retailers.

  • Manufacturers will now deal directly with consumers without limiting their market reach due to minimum order quantity requirements. DPA showcase technology lets them offer special product deals or liquidate overruns without being subject to the whim of volume or channel buyers because they can reach out directly to consumers.

  • Wholesalers want to increase sales by reaching retail customers but that would require additional processes, logistics, etc., and result in higher costs.

  • Our DPA app’s mobile B2B and B2C platform lets e-commerce sellers and individuals purchase products directly from manufacturers using a simple iOS or Android mobile app. For the first time, small sellers and individuals will be able to buy at prices that before were only available to big-box retailers.

  • The DPA harnesses the buying power of the masses to offer direct product pricing on millions of items worldwide. Manufacturers will have access to a platform that connects them directly to end-users while still meeting their required MOQ.

Our custom Buying.com DPA app

direct product access

Our DPA App which is currently being built by our team of developers will be enhanced with a transparent community for commentary and feedback. Not only will this app be the home for our purchasing portal, but it will also include a one-of-a-kind social community.

Our community is packed with features including a unique grading system for suppliers and products, a place for consumers to share thoughts, and a portal to submit requests. The utilization of the manufacturers' MOQ will encourage our users to socially share the deal to hit the quota and also build our membership virally. The app will be capable of directly linking all social media profiles, including the latest social platforms of the Third Web.

PRODUCT AND TECHNOLOGY

In this section, we describe the main concepts behind the Product and Technology.

Actors & Objects

In any system, there are various actors and roles that the system is meant for. In that vein, we will describe the major actors in the Buying.com system. We also describe objects in the system and these refers to major constructs that underpin the system:

  • Retailer —This is the entity that wishes to setup a storefront and conduct business online using the tools and services offered by Buying.com.
  • Product —These are goods and services that are sold by a retailer and produced by a manufacturer.
  • Storefront —These are the storefronts through which a Retailer conducts business. Each retailer can have more than one storefront. Each Storefront will have a Catalog consisting of one or more Products.
  • Catalog —Every store has a Product catalog which is made up of multiple products and services.
  • Manufacturer —These refer to producers of goods and services which are listed in the Buying.com catalogs. Retailers can select Products from various Manufacturers to place in their Catalog.
  • Consumer —A consumer is a user of the Buying.com system who purchases goods and services by placing Orders online.
  • Order —An order is a list of products and services purchased by a Consumer. Each item in an order may be produced by various Manufacturers.
  • Minimum Order Quantity (MOQ) —Manufacturers of goods often require a minimum size of orders to be placed. This is due to the fact that operating a manufacturing cycle costs a lot and a manufacturer can only recover such costs by operating at scale.
  • Drop Shipment —This is a shipment from a manufacturer to a consumer bypassing an intermediary storage point (i.e., wholesaler, distributor, retailer).
  • Distribution Center —A distribution center is a warehouse to store products prior to delivery
  • MOQ Group —This refers to a group of consumers who each have a need for a product from a manufacturer, but each one by themselves does not represent a demand quotient large enough to meet the MOQ of the Manufacturer. In this case, they form an MOQ Group to create a collective order large enough to meet the MOQ of the Manufacturer and to benefit from the economies of scale.
  • Microdistributor —This is an entity that wishes to participate in the Buying.com network as a distribution center. This distributor acts as a node on the network thereby providing scalability for the network while acting as a distribution center to create a density of distribution centers in the system.
  • Microdelivery —This is an entity that wishes to participate in the Buying.com network as a delivery partner. This delivery partner acts as a light node on the network thereby providing scalability for the network while acting as a delivery partner to improve last-mile delivery in the network.

Technology Overview

Decentralization

The predominant architecture currently employed by most systems across multiple industry domains is Client-Server technology (see Centralized systems in the diagram below). This is being disrupted and replaced rapidly by decentralized computing wherein ecosystems of organizations and individuals participate and share data. The silos of data are a thing of the past in decentralized computing, and this is made possible through the use of Distributed Ledgers (see Decentralized systems in the diagram below).

Distributed Ledger Technology

Distributed Ledgers can be developed using a number of different technologies including blockchain (e.g., Ethereum Hyperledger) and direct acyclic graphs (e.g., IPFS, IOTA) and there can be both permissioned and public distributed ledgers. Layered on top of distributed ledgers, depending on the application at hand, is the concept of cryptocurrency. This is particularly applicable in public distributed ledgers such as Ethereum, Bitcoin, IOTA, and others.
Another useful concept in decentralized computing is that of smart contracts A smart contract can be thought of as code that acts upon data stored in a distributed ledger, very similar to how stored procedures and triggers in traditional database technology operate on data stored in tables. So, taken in aggregate, a decentralized network could be thought of as a combination of network, logic, and data.

KEY CONCEPTS

A distributed ledgeris a database that is consensually shared and synchronized across a network spread across multiple sites, institutions or geographies. It allows transactions to have public “witnesses,” thereby making a cyber attack more difficult.

A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference, or manipulation.

A smart contractis a computer protocol intended to facilitate, validate, or enforce the negotiation or performance of a contract

Technology Stack

In this section, we describe the elements of the Technology Stack and why each of these components were chosen.

Prime Protocol

At the heart of the Buying.com system is the Prime Protocol. The Prime Protocol is designed to become the de facto standard for e-Commerce transactions on the second generation of the Internet powered by Distributed Ledger technology. The Prime Protocol tackles head-on a number of key problems that currently plague the e-commerce ecosystem as well as some forward-thinking technologies that facilitate future forms of e-commerce.

Some of the features of the Prime Protocol include:
  • Chargebacks15 have become the bane of many legitimate merchants and unscrupulous consumers.
  • Escrow is a good way of protecting consumers from unscrupulous vendors, but often not used in e-commerce because of how cumbersome the process is. It is in the best interest of the consumer, but most do not have the wherewithal to insist on using escrow for purchases.
  • Ricardian contracts embedded in our protocol ensure that transactions between parties also embody legal terms and conditions which is customary in transactions, e.g., various states in the USA have “lemon” laws to protect consumers.
  • Proof of Delivery—a method for verifying goods have been delivered to a customer. Methods of verification may include: Customer signature, Photographic, and GPS evidence of delivery and more.
Problem Solution
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 is a multi-billion-dollar same-year commerce problem costing retailers billion. In using Buying.com’s Prime-Protect Protocol, transactions will escrow payments until customers receive goods and are satisfied once the purchase is cleared. 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 or products without mass distribution scale more efficiently. If they chose to list their inventory on buying.com, they will join a preexisting network of national products and have access to a hyper-local distribution point within neighborhoods
Hyperlocal last mile delivery to consumers (how is this a problem. I’m not disagreeing, expand your rationale). Much like Uber transformed ride sharing, our network of driver and distributors form our hyper-local 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* Protocol 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 fastmoving 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.• Avoid Chargebacks (merchants) while honoring refunds (consumers) • Reduce merchant fees for retailers

Key Process Flow Diagrams

Steps
1. Prospective Microdistributor visits Buying.com and submits forms to signup to be a Microdistribution Center. The customer will pay the application fee in tokens which would be purchased on an exchange.
2. Documents submitted are stored in IPFS for record keeping.
3. Forms and data submitted for Compliance testing.
4. Third-party vendor, e.g., Identity Mind is used for AML/ KYC and background checks.
5. Keep iterating steps 3, 4 until all compliance tests are passed. Microdistributor may need to provide further documentation as needed during this process.
6. Once Compliance tests are passed, the Microdistributor is accepted into the Buying.com network.
7. The Microdistributor next purchases tokens from the exchange and stakes them with the Buying.com Network which stores it in Escrow. The Microdistributor is now allowed to carry goods up to the value of the tokens staked. In essence, the staked tokens act as collateral in the event of loss of goods/fraud/theft on the part of the Microdistributor
Steps
1. Prospective Consumer joins Buying.com and downloads app.
2. Consumers shop on eTailer storefronts on Buying.com network.
3. Consumer places items in the shopping cart.
4. System broadcasts items needing MOQ fulfillment to the Buying.com network. 5. Interested consumers also express interest in the MOQ products.
6. Order placed with Manufacturer when MOQ is met.
7. Manufacturer dropships items to Microdistribution centers.
8. Delivery operators pick items from Microdistribution centers to drop off at consumer locations.

TOKENOMICS

In this section, we describe several aspects of the Buying.com’s BUY token

Token Use Cases

The BUY token is used in the following ways:

  • 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
  • As a form of dividend payment to investors

Consensus Algorithm

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

Proof of Delivery

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.

Mathematical Modeling

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).

Technology Implementation

In this section, we discuss the technical implementation of the decentralized application. For zooming into technical details, refer to the yellow paper, found in the appendix.

Blockchain Consensus

Key Algorand Features

ASC1

Trustless programs that execute on-chain, where users can be confident that the program was run without error and the results were not tampered with. They are integrated into Algorand’s Layer-1, inheriting the same powerful speed, scale, finality, and security as the Algorand platform itself, and are cost-effective and error-free. ASC1s have the ability to automatically enforce custom rules and logic, from simply defining how assets can be transferred to complex application logic and flow.

Algorand Standard Assets (ASA)

Standardized, Layer-1 mechanism to represent any type of asset on the Algorand block-chain. ASAs are low cost to execute, due to Algorand’s minuscule transaction fees. Role-Based Asset Control allows optional and flexible asset controls for issuers and man-agers for business, compliance, and regulatory requirements. Before a new asset can be transferred to a specific account the receiver must opt-in to receive the asset, preventing asset spam of unknown assets that may have tax, legal, or reputational risk.

Atomic Swap

Atomic Transfers offer a secure way to simultaneously transfer a number of assets among a number of parties. Specifically, many transactions are grouped together and either all transactions are executed or none of them are executed.

Algorand Rekeying

Algorand Rekeying in Layer-1 solves these operational inefficiencies by allowing users to change their Private Spending key without the need to change their Public Address. Rekeying enables more Aflexibility, continuity, and less overhead with any changes of the Private Spending key.

Current Implementation & Tokenomics

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.

  1. 1. Creator - buying.com (current address of the ASA creator on Algorand mainnet)
  2. 2. AssetName - BUY TOKEN
  3. 3. UnitName - BUY
  4. 4. Total -1 BILLION (maximum supply)
  5. 5. Decimals - 6 (divisible up to 6 decimal places, 0.000001 being the smallest unit of BUY)
  6. 6. DefaultFrozen - 0 (initially unavailable asset quantity)

There are four parameters in ASA that correspond to addresses that can authorize specific func-tionality for an asset. These addresses must be specified on creation but they can also be modi-fied after creation. Here are the four address types to be specified while creating a token. For our purposes, we’ve kept the addresses the same as the creator's address.
Manager Address: The manager account is the only account that can authorize transactions to re-configure or destroy an asset. This account address should not be set to empty if we want to be able to re-configure or destroy the asset. The manager of an asset is the only Algorand account that can destroy an asset and is the only account that can reconfigure the other admin roles of an asset. In order to trigger a destroyed asset transaction, the original creator of the asset must be in possession (must have in its balance record) of all units of the asset.
Reserve Address: Specifying a reserve account signifies that non-minted assets will reside in that account instead of the default creator account. Assets transferred from this account are "minted" units of the asset. Currently, there are no tokens in the reserved address.
Freeze Address: The freeze account is allowed to freeze or unfreeze the asset holdings for a specific account. When an account is frozen it cannot send or receive the frozen asset. If the DefaultFrozen state is set to True, we can use the unfreeze action to authorize certain accounts to trade the asset (such as after passing KYC/AML checks).
Clawback Address: The clawback address represents an account that is allowed to transfer assets from and to any asset holder (assuming they have opted-in). This is used when we need the option to revoke assets from an account (like if they breach certain contractual obligations tied to holding the asset).

DEVELOPMENT
ROAD MAP

Our goal is to create the first e-commerce platform that allows online stores and consumers to buy direct from manufacturers. It’s the next generation Decentralized E-Commerce Platform that harnesses the power of distributed ledger technology along with innovations in Bulk Pricing, Real-time Logistics, E-Commerce on Demand 2 Hour Guaranteed Delivery and Cryptocurrency.

Token Utility Value Modeling13

Using a Marketing S-Curve Adoption Model, we have computed the Utility Value of the BUY Token. For this model, we have assumed the following:

  • Global e-commerce Market of $2.86T in 2018 growing at a CAGR of 19%
  • An initial market share of 0.01% tailing off at 2% over 10 years
  • Discount Rate of 21% (adjust for risk)
  • Token Velocity is assumed to 10
Formula: MV = PT
Where: M= size of the asset base, V= velocity of the asset (the number of times that an average coin changes hands every day), P= price of the digital resource being provisioned, T= transaction volume (the economic value of transactions per time). We can rearrange this equation to solve for Token Price =PQ/VM. In the crypto world, to calculate token price, one computes the market cap in dollars (PQ), divided by the velocity (V) and the number of coins in supply.
The formula for token velocity is as follows:
Formula: Velocity = Total Transactional Volume/Average Network Volume Therefore,
Formula: Average Network Volume = Total Transaction Volume/Velocity
Token velocity is total transaction value divided by the average network value. This means the average network value is equal to the velocity divided by the total transaction value. Velocity is typically measured annually. If transactions are absent, then the token lacks liquidity and its velocity equals zero. Consequently, the asset will trade at a discounted rate. There must be some minimal velocity for a token to reach its full value. With tokens that people do not hold, velocity increases linearly with transactional value.
The Present Value of the Utility Value of the Token in 2028 is computed to be $25.00 while the crowdsale offering price is $0.25. While this is not an indication of the token’s market value, it is a model that measures the value of the token in its ability to generate revenues within the Buying.com ecosystem

MEET THE TEAM - TEAM Bios

Jean Gabriel

Founder
Entrepreneur

Mr. Raghu Bala

Lead Block Chain Designer.

Lead Block Chain Designer. Mr. Raghu Bala 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.

Joseph Riviello

Chief Operating Officer

Evelyn Garcia

National Director Of Operations

Sam Bourgi

Senior Advisor, Chief Editor Hacked.com

Lauren Soto

East Coast Director Of Driver Administration

Ericka Guilbe

West Coast Director Of Driver Administration

Utkarsh Khare

Chief Technology Officer

Abhinav Sinha

Product Head (Mobile Apps, AWS & Scripts)

Bhupinder Singh

Technical Lead (Web & APIs)

Diksha Dekate

Sr. Software Developer (Web)

Shikha Mahaldawan

Project Co-ordinator & Quality Lead

Seema Sherry

Art & creative Director

Vince Tullo

Senior Advisor - Stephens Institute

Robert V. Cornish Jr.

Of Counsel - Robert Cornish ESQ.

Von E Sanborn

Senior Legal Counsel -Day Pitney

Joseph Doren

Senior Accountant

Roger Gottilla

Senior Legal Counsel - Wilson Elser

Vinay Kumar

Senior Consultant