Nowadays, consumer shopping has become ubiquitous. It can happen anytime, anywhere, and through a variety of channels. Entering a store or ordering from a shopping site, voice search or mobile phone click, consumers have the option to shop anytime, anywhere. In today’s e-commerce industry, entrepreneurs may find themselves constantly struggling with issues such as:
- Information Leakage
- Other than payment information, consumers are concerned about sharing sensitive information and having it result in leakage (i.e. Equifax data leak could involve 143 million consumers).
- Transaction Disputes
- Except for the invoice/credit card statement, there are no other shopping records for consumers which is a large unsolved issue of trust for online platforms.
- Payment
- Consumers have to present credit/debit cards to the merchants which create the inconvenience, inefficiencies, and possible transaction fraud.
- Fraud
- The fraud between online merchants and consumers (like incidents on eBay or Taobao).
- ID Identification / Data Sharing
- Users have various IDs connected with their online behavior, such as an email account, phone number, dozens of membership IDs resulting in fragmented data.
- Merchants are unable to access a universal system which stores customer information and preferences. For example, Yahoo! Japan has no access to consumers’ shopping records for Amazon Japan.
Even with increased usage of e-commerce sites, offline physical stores will not disappear.90% of global retail sales still come from physical stores. Compared to a wide variety of convenient online shopping, physical retailers must create a good customer experience and increase brand engagement, or their competitiveness will become increasingly diminished as their competitors innovate.
- ULSee Platform
- The goal of the ULSee platform is to incentivize as many consumers (data suppliers) as possible to share as much data as possible with as many merchants as possible. We will use the graphene technology used by Enterprise Operation System (EOS), which can support 10,000-100,000 transactions per second during stress tests. In addition, a concurrency mechanism will be used to expand the network abilities to handle transactions up to millions of transactions per second. Utilizing blockchain technology, decentralized storage and marketplace structures, the ULSee platform aims to make available the 99% of potential data that has been previously inaccessible to e-commerce companies. Resulting in an ecosystem between e-commerce platforms and consumers to achieve its potential to truly disrupt and transform our daily lives for the better.