Hi Raghu can you tell us in the simplest of terms what Buying.com is all about?
Buying.com connects businesses that are interested in hosting bulk-sale deals with pools of consumers that combine their purchasing power together to unlock Minimum Order Quantities (MOQ). An MOQ is the minimum amount of a product that needs to be purchased from a supplier in order to unlock the best price point. This tool is available to manufacturers, distributors, wholesalers and ecommerce sellers who want to access our protocol.
Buying.com offers a full service, eCommerce ecosystem. We say full service because it also contains a hyperlocal storage and delivery solution for end-to-end retail.
Our platform allows individuals and commercial entities to repurpose latent space and use it as storage. Your extra space can become a source of income similar to how AirBnb converted houses into hotel rooms. It also becomes a strategic landing point for our last-mile distribution system.
Through Buying.com’s full service, e-commerce solution, we are also able to provide blockchain-empowered logistics and supply chain information. This data is a significant equalizer for smaller e-commerce sellers with limited resources that want to compete against the largest ecommerce competitors.
Why do you think that the e-commerce industry needs Blockchain?
Blockchain is a natural match fit for e-commerce because of several reasons. These reasons include the way that Blockchain’s digital ledger technology can enhance supply chain logistics, inventory management, and smart contracts.
For example, our platform WeBuy* uses Blockchain technology to achieve quotas that combine purchasing power to unlock bulk-order pricing.
Blockchain further enhances our Genesis* data tier. This part of our platform allows data about individual products offered through Buying.com, such as condition, list price, and description. The condition descriptions are fully transparent as made possible by the Blockchain and geo-fenced to a consumers radius. There by making local purchases ecommerce on demand with two hour delivery to the door step.
How do you plan to build a growing customer base around your project?
We will continue building on top of our operational database of over 2 million items, which are all currently offered through our Dropshipper.com outfit.
We have hired the top talent from around the world to work on our project day and night. At our office in New Jersey, our team is developing a state of the art Blockchain protocol, as well as a full-service e-commerce ecosystem.
With over thirty days left before our pre-sale, our community has reached over 13,000 users. Our telegram channel and social media accounts are very active. We are on the ground communicating with our community. Our narrative is genuine and provides a real solution to real world problems.
Where do you see the Buying.com project in the next 12 months?
We see ourselves continuing to add hundreds more suppliers, wholesalers , distributors and thousands of retailers to our existing base. We plan on having a having fully functional IOS and android application based on blockchain and our end to end ecommerce protocol fully operational.
How soon will your tokens be tradable on exchanges and any hints of which exchanges will be trading?
We are a regulatory compliant ICO token in the USA. We have been in contact with several exchanges that have shown keen interest in listing the BUY token already. The announcement will be made as soon as the ICO concludes.
Briefly run us through the process of your token sale.
We believe that the early investors of our platform deserve the best possible discount on our tokens. During our seed round sale that starts on September 1, each token will be worth $0.06 cents with a 20% bonus offering. Then, our presale will be on October 1, 2018. During the presale, our tokens will go for $0.07 cents each with a 10% bonus.
Our entire token sale will span two pre-sale tiers and two additional crowd sales. The total value of the tokens that will be offered across the various 4 tiers of the token sale is $50.5 million. The dates of the second pre-sale and two crowd sales will be determined in the near future.
For more details, follow the Buying.com ICO here.