CRYPTOKID: ApolloX: Blockchain Solution for Online E-Commerce

The advent of blockchain technology brings a new system and model for businesses. Before blockchain, companies and organizations that operate for profit must find a way to bill their users to ensure profit. Also, they have to go through multiple channels to ensure that they are transparent (which they sometimes still find a way to evade).

With blockchain, an organization can issue its own tokens based on smart contracts which gives users a surety of transparency and direct involvement in the organization’s choices according to the consensus model.

This change of model is finding its way into the ecommerce industry. The rise of online shopping giants in the last 2 decades have been profound. The centralized nature of the industry, however, creates issues that cannot be truly resolved if the system stays centralized. Issues such as unfair pricing, hidden costs and data abuse. The purpose of decentralization in the ecommerce industry is to create a system that benefits the sellers and buyers equally, and also prioritize an excellent user experience over profits.

One project with the aim of putting the ecommerce industry on the blockchain is ApolloX, which aims to create a blockchain-based ecosystem for all things ecommerce.

About ApolloX

ApolloX is a blockchain solution for online e-commerce with a large number of existing participants and mainstream adoption. It also aims to disrupt the existing online marketplace landscape and become the first choice of online channels to sellers globally, especially new sellers with cross border selling needs. Existing marketplaces or shops may also migrate their business to ApolloX platform for cost reduction, faster customer acquisitions and better brand recognition.

ApolloX is a platform for building decentralized e-commerce applications and services on blockchain. ApolloX will use tokenization and decentralization to replace today’s rent-seeking enterprise with a new model of complete shopping protection, data security and minimal commission.

They are working to disrupt today’s e-commerce marketplace industry and provide everyone all the benefits of trading through a marketplace like Amazon without the unnecessary costs that come from monopolistic intermediaries.

ApolloX Ecosystem

ApolloX is a decentralized ecosystem connecting buyers and sellers with trust and efficiency, without information silo and commission fees. The ecosystem has three building blocks.

Shops Powered by ApolloX

Independent web stores and decentralized marketplaces built with ApolloX Protocol.

ApolloX Protocol

A protocol layer that makes it easy to build decentralized e-commerce applications and services on blockchain. The ApolloX protocol consist of:

Attribution Protocol: Rewards community for referral traffic and affiliate sales
Payment Protocol: Securely transfers payment between buyer and seller to prevent frauds and accelerate turnarounds
Reputation Protocol: A trustable review system for products and sellers. Rewards authentic high quality reviews and penalizes fraudulent behaviors
Oracle and Data Protocol: Trustable data IO between ApolloX platform and external apps to amplify the value of data in ApolloX platform
Arbitration Protocol: Resolves disputes in a transparent and efficient way through stake and challenge with rewards
Community Built Protocol: Soon all ApolloX members can build their own protocols that will best serve and advance the ApolloX community

ApolloX Community

A fast growing community of manufactures, sellers, customers, service providers and technologists. Community members contribute and get rewarded for providing value to the whole community.

ApolloX Use Case

Decentralized Marketplace

The decentralized marketplace with an unparalleled user experience

Independent Stores

Powers independent stores with blockchain and the ApolloX network , charging minimal fees and producing intrinsic traffic

E-Commerce Services

Service businesses for the sellers and buyers, such as decentralized shopping data exchange and decentralized shopping insurance market

ApolloX Token

ApolloX Token (APXT) is designed to facilitate transactions within ApolloX ecosystem and promote positive contribution to the community.

There are multiple ways for each role to earn and spend APXT in the ecosystem.

Earn for sharing social accounts. Customers can earn APXT by opening accounts and connecting social networks.
Pay for services on ApolloX network. Sellers need to pay for platform service fees such as advertisement and search ranking with APXT.
Rewards and Affiliate Program. Members bring in affiliate traffic earn APXT as rewards for affiliate orders.
Perks for members holding APXT. Premium members who hold APXT tokens receive perks such as discounts in purchasing and free service.