A PROVABLY FAIR MARKETPLACE:
The Unbotable Project
Blockchain is aimed at revolutionizing ecommerce. Security, transparency and immutability are the hallmarks of blockchain, and these features have direct advantages when applied to marketplaces for digital goods. The multi-billion-dollar online footwear and apparel market is currently poised for disruption through the use of blockchain technology. By using blockchain technology, it will be possible to make footwear and apparel sold online much fairer and more transparent through a blockchain based marketplace.
The Problem: Unfair Advantages Driven by Automation
The problem facing the online apparel and footwear market today are bots able to purchase large amounts of desirable stock at retail prices for re-sale on secondary markets. Unlike traditional brick-and-mortar businesses where the ability to buy stock is determined by a person physically being present, automated bots (commonly known as sneaker bots) can automate online shoe purchasing. These automated bots crowd-out normal, everyday buyers, who are unable to purchase their favorite apparel and shoes at a normal price. For exclusive items with limited stock availability, regular customers suffer at the hands of advanced bots, who outcompete for premium goods.
Traditional online-retail outlets for shoes and apparel also suffer from a misalignment of incentives. Shoe and apparel brands that manufacture at a certain price are willing to give better deals to wholesalers, who will be able to raise larger purchase orders. Everyday consumers are left paying a premium by not being part of these deals.
Our website : https://unbotable.net/
The Solution: Blockchain Technology
The solution to automated sneaker-bot trading is blockchain technology. Sneaker-bots require users to have multiple accounts to improve the chances of purchasing the best shoes and apparel on the market. Numerous fake accounts can be overcome by securely proving that an account is legitimate and unique. This can be achieved through verifying personal information about the account holder, such as with a drivers license number, Social Security number or an established social media account. Knowing-your-customer through a unique identifier is a key way of minimizing the number of fake accounts on the platform.
Blockchain technology will also help eliminate back-door deals. As a blockchain is an immutable ledger, there will be a permanent record of transactions that take place on the chain. This blockchain will contain information on all stock availability for wholesalers and consumers alike, ensuring there is full transparency around prices and availability. This will ensure a fair and equal distribution of apparel and shoes to both large and small consumers alike.
Wrap Up: Why This Project Matters
There is a huge problem in the apparel and shoe industry as it stands today. Rather than a fair, distributed platform, online stores are highly centralized entities that offer generous deals to wholesalers while being at the mercy of sneaker-bots cornering the marketplaces. Consumers who look for the best quality and most exclusive gear end up paying premium prices, often times on the secondary market where authenticity is not fully guaranteed. The clear solution above all else is blockchain technology. Blockchain aligns incentives from short-term and predatory to long-term and collaborative. Consumers benefit from the increased transparency and restriction on account creation that blockchain facilitate
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