5 problem areas of e-commerce that Blockchain can improve in the long term

1. The cost problem

In the electronics and computer sector alone, Amazon has a market share of almost a quarter. Large e-commerce platforms have a reach – and retailers can feel it. They collect fees per purchase – which usually account for between ten and 50 percent of the total price. This not only reduces potential profits for merchants, but also drives up prices for end consumers. A lose-lose situation in which only the platform operators win.

The founding team of Mondo no longer wanted to accept this deplorable state of affairs – and created an alternative; a marketplace that is fair for dealers and customers alike: mondo.shopping. How does this solution work? Long story short: With Blockchain. mondo.shopping is based on exactly this technology. It opens up e-commerce to players of all stripes and gives retailers back their lost autonomy.

An alternative marketplace that treats traders fairly sounds too good to be true? But it is! Find out how Mondo works and what advantages the platform has for dealers and customers here!

2. The middleman problem

Traditional and well-known e-commerce platforms are operated by centralized companies. They act as intermediaries between customers on the one hand and sales on the other. In this way, they not only lead to increased costs, but also promote monopoly positions of selected providers.

As a completely decentralized e-commerce platform, Mondo uses block chain to give sellers back control of their own business: Smart Contracts based on Artificial Intelligence that verify agreements between sellers and customers ultimately make the middleman obsolete.

3. The communication and transparency problem

Customer relationships determine the success or failure of a company – which is why they should be at the center of attention. But this is exactly where e-commerce platforms come into play: Centralized platforms often prevent merchants from having direct contact with their customers. Comprehensive customer care? Nothing. The same applies to transparency: e-commerce platforms often have strict rules, and if a merchant violates them, he is immediately blocked. The problem, however, is that the rules are often not communicated transparently and it is not always clear what the misconduct was. This often leads to a feeling of arbitrary punishment – and opens the door to actual arbitrariness.

Mondo gets to the root of the problem and – thanks to Blockchain – enables transparent communication between all parties involved. Thus, all transactions are traceable via a publicly distributed block chain. If a dealer violates Mondo’s terms of use, a customer service representative is assigned to deal with the case. Dealers can take action against contractual penalties in a dispute resolution committee: Members of the community, wholesalers and the Mondo team are represented here.

How exactly can e-commerce work at eye level? With Blockchain of course! And now Mondo is starting with the ICO – all the information you need can be found here!

4. Fake reviews and disputes

Anyone who runs their business online is dependent on ratings – which are unfortunately extremely susceptible to manipulation. Reliable companies can become victims of dirty campaigns, while fraudulent traders profit from fake ratings. What’s more, if a customer has had a bad experience on a traditional e-commerce platform, the process of resolving disputes with a merchant is often difficult or even hopeless.

This is where Mondo relies on Smart Contracts: In these contracts, rules are mutually agreed between the dealer and the customer before the order is placed. After receipt of the goods, the Smart Contracts check whether the rules have been observed – or not. Artificial intelligence in combination with block chain is also used to verify ratings: ratings are analyzed and fake ratings are contained.

As a result, only retailers with high-quality products and services are advertised and rewarded in search rankings.

5. The owner problem

How can dealers convince customers? Besides good reviews with high-quality product pictures and videos or sophisticated texts. But as soon as these are uploaded on traditional e-commerce platforms, they automatically assign their ownership rights to them. At Mondo, all data is decentralized, ensuring that all uploaded information belongs to the respective users.

This includes private data, which – unlike e-commerce platforms – is never monetized without consent.

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