🚀🚀ApolloX Protocol🚀🚀| Empower Decentralized E-Commerce Marketplace

Hello my readers heres a review on my article about Apollox Protocol which emphasize The advent of blockchain technology that 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.

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.without information silo and commission fees. The ecosystem has three building blocks.

1 Shops Powered by ApolloX

Independent web stores and decentralized marketplaces built with ApolloX Protocol.

2 ApolloX Protocol

A protocol layer that makes it easy to build decentralized e-commerce applications and services on blockchain.

3 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 protocol is the standard for empowering a new generation of decentralized global e-commerce. 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.

The team involved in ApolloX has an existing ecommerce platform known as Apollo Box. It was launched in 2016 and has over 1 million active users today.

What Does ApolloX Do?

The rise of the ecommerce industry in the last 2 decades has led to the emergence of giant online shopping companies such as Amazon, eBay and Alibaba. However, the centralized nature of this industry has created issues of unfair pricing, hidden costs, data abuse and more.

The problems that the e-commerce industry is facing are based on their centralized model, which can be summarized as follows:

• The expensive nature of trust between buyers and sellers on existing ecommerce platforms. Sellers have to pay substantial amounts for their products to be listed on big ecommerce sites.
• There are hidden costs of advertising and marketing that are centrally controlled. Sellers have no option but to abide by this model, which minimizes their profitability. Also, middlemen fees such as transport and storage fees are expensive on big ecommerce platforms.
• Users do not have control over their data on these platforms. The data is often resold to sellers, many times without the knowledge of the buyers (who are the owners of their own data).

ApolloX Provides a Decentralized Ecommerce Solution

ApolloX solves the above problems with a blockchain-based protocol that empowers decentralization in the e-commerce industry.

The ApolloX protocol is a set of built-in functionalities for all essential ecommerce transactions. Developers in the ApolloX community are encouraged to build on the platform to increase the robustness of the ecosystem.

The following are the primary features of the platform,

• ApolloX has an Attribution Protocol which keeps every transaction and ecommerce activity in decentralized databases. Each participant on the blockchain can verify the integrity of the data with permissions.
• Affiliate sales and referral traffic are managed via the Attribution Protocol. This allows sellers to review the performance of ads from all channels. Publishers get paid directly by sellers, which removes third party agencies and their commissions from the equation.
• The Attribution Protocol also helps to track the traffic source of each visit on the ApolloX platform, and hence incentivize community members who share shops or products through their social networks. Each community member has a referral link that makes this possible.
• The Payment Protocol enables secure peer-to-peer transactions based on smart contracts, thus eliminating fraud.
• There is also a smart contract for shipping time guarantee. This means the product will either arrive on time or the consumer will be reimbursed for the delay.
• The Arbitration Protocol resolves disputes between buyers and sellers based on a Deposit-Challenge-Vote system. A buyer or seller can open a case when they cannot resolve a dispute with another party on the ApolloX platform. Each party deposits an amount of tokens and state their case. Once the case is set up, a broader vote is opened up to a randomly selected group of community mediators who cast votes with ApolloX tokens to make a decision about the outcome of the case. After the vote is complete, the losing side will lose their tokens. The winning side and mediators who voted for the winning side get a share of the tokens from the losing side (as incentive). The mediators who voted for the losing side gets their tokens back but with no extra reward.
• The Reputation Protocol rewards honest reviews and penalizes fraudulent reviews. Those who give fraudulent reviews lose tokens, and also lose their ability to review other products.
• The Oracle and Data Protocol is used to provide external information concerning issues like logistics, personal information and advertising.

History of ApolloX

The team behind ApolloX earlier founded the ecommerce platform Apollo Box, which is focused on selling creative home and lifestyle products.

Apollo Box was designed to be a social ecommerce community, and has now grown into a global marketplace with $15 million in annual gross sales. It has 800 vendors from 20 different countries, and serves over 1 million active users.

The issues they faced in their experience in the ecommerce industry is what motivated the creation of ApolloX.

The Team Behind ApolloX

The ApolloX team consists of experienced personnel with strong academic background as well as expertise is ecommerce and blockchain:

Will Li

Co-founder & Technology Lead 

Series entrepreneur, founder of 3 companies. Previously worked at Oracle and MIT Media Lab. Will founded Carrot App in 2010 and got acquired by Sophos in 2012. He received his Master and Bachelor degrees in EECS from MIT. Will is the inventor of the first application locking solution for Android.

Claire Zhou

Co-founder & Product Lead

Previously worked as senior marketing analyst at Google and Newell Rubbermain. Co-founder of CarrotApp and ApolloBox. Claire received her master degree in biomedical engineering from SUNY.

Dr. Shannon Ma

Marketing Lead

Expert in online marketing channels and affiliate networks. Marketing manager at Apollo Box. Shannon received her PhD in Economics from Michigan State University and continued her postdoctoral study at Stanford University.

Dr. Yusi Zhang

Cryptography Researcher 

Yusi is a PhD candidate in symmetric-key cryptography from University of California. His main research area is provable security in symmetric-key cryptography and designs for cryptographic definitions. Yusi is also an expert in web attack and defense techniques

Kyle White

Marketing & Community 

Kyle is an expert in crypto marketing and community development. Kyle holds a master degree in public relations. Kyle has led and advised several crypto projects rasing multiple million funding in the last year

Bowen Liu

Full-Stack Engineer 

Bowen is a senior full-stack web developer with deep experience in react, javascript, and no-sql databases. Bowen received his master degree in computer science from State University of New York.

ADVISORS

Zaki Manian

Executed Director of Trusted IoT Alliance

Zaki is an industry leading export in blockchain and consensus algorithm. Zaki is also an advisor for Cosmos and Tendermint and early contributor to Zcash. Co-founder of SkuChain.

Jun Wu

Partner at Amino Capital

Dr. Jun Wu is a major contributor in Google Search Engine for Asian languages and a pioneer of internet search anti-fraud. He also served as Vice president at Tencent from 2010 to 2012 and as an advisor to the Ministry of Industry and Information in China

Felix Li

Founder at Hofan Capital

Felix is the CEO of Hofan Group, China’s largest cross-border marketing services platform headquartered in Shenzhen and with offices in Europe, North America, and Australia. Felix is also a top angel investor in China

The APXT Token

The APXT token is the utility tolen for rewards and payments on the ApolloX platform. It is the primary incentive for the community to contribute to the ecosystem.

The chart below expresses the dynamics of the APXT tokens in the ApolloX ecosystem:

While their token sale date is still unknown. ApolloBox has announced that they have completed their private seed round funding of several millions.

In conclusion of my article review

The inefficiencies of the current state of the ecommerce industry creates an opportunity for a decentralized system of operations. These inefficiencies are addressed by the ApolloX protocol and it offers a way for buyers and sellers to transact with the transparency and trust that blockchain brings.

ApolloX can make a big impact on the ecommerce industry if they are able to to reduce the total cost of ecommerce by as much as 40% as expected. As the ApolloX platform is built on the experience of Apollo Box, there is high confidence that the team will succeed at their aims.

Taking on traditional e-commerce companies is a big challenge, but the ApolloX team looks ready to transform the industry into one that is more transparent, cost-efficient and fair.

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