What Is KartBlock?

Kartblock is a provider of the blockchain technology that powers 27avenue.com, which is an e-commerce marketplace. The e-commerce platform has been operating since 2013 in Singapore and India. The 27Avenue has experienced exponential growth in just a few years.

This was a single category online store, which has now grown to be a multi-category online marketplace. It has a seller base of over 300 merchants and more than 100 thousand SKU’s. At its peak, the platform has done a GMV of a million dollars. It has stores in the US, Canada, Europe, UK, Singapore, Australia, and Hong Kong.

The platform has been selling unique products exclusively with the help of a huge supply base in China. With global operations and cross-border payments, the need arose to create a backend solution that could improve operational excellence.

The company turned to the blockchain, creating a decentralized e-commerce platform. They have achieved faster transactions, secured by smart contracts, and tokenized payments. The Kartblock project intends to conduct an ICO to help with the growth of the 27Avenue platform. This will allow it to compete with centralized e-commerce platforms, which have a monopoly on the online marketplace.

On every site that a user visits, either he or she has to disclose personal data directly, or they give access to a domain where their personal data is stored. In most cases, this data is traded without consent from the users. This often leads to a breach of privacy. However, there are laws such as the GDPR in the EU, which are expected to improve the situation.

With the growing use of crypto as a store of wealth, the owners expect that this will be utilized as the mode of payment. Although some places have begun to accept crypto for payment, users still face too many problems. The transaction process is usually complicated.

Most loyalty programs are often fragmented and tiny. The points earned from one platform cannot be used at another. Besides that, they are so tiny that consumers avoid them anyway. Further, these programs are linked to the quantity spent by the user. They do not reward consumers for other contributions they make to a business.

The kartblock ecosystem is an e-commerce platform, a digital wallet, and a tokenized reward system. This ecosystem will reward users for the contributions they make to the Kart Block platform without middlemen.

As part of the ecosystem, they have created a DApp. The DApp runs on the blockchain, which means there is no centralized server harvesting customer data. With the blockchain, this will improve transparency in the e-commerce sector. This will help merchants to run analytics without having to pay considerable sums to large centralized corporations for data access.

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