By 2021 it is predicted the global sales from retail e-commerce will hit $4.5 trillion. That’s up from $1.3 trillion in 2014.
This not only shows how huge the global retail e-commerce is but also how rapidly it is expanding.
Many of those future e-commerce purchases will be conducted in fiat currency, but perhaps even more interesting is the possibility of cryptocurrency driven e-commerce.
Cryptocurrency is in most ways more well suited to the needs of globalised, ecommerce environment. You can use the same cryptocurrency to purchase goods and services in India, the United States, Japan or Germany or anywhere else in the globe.
What’s more conducting e-Commerce transactions in cryptocurrency removes the need for intermediaries. Intermediaries including the bank and credit card processor are involved with every credit card e-Commerce purchase that occurs. Each of these intermediaries charges fees for their services, inflating the costs for the merchant and the consumer.
So, if cryptocurrency is such an ideal solution for e-Commerce then why hasn’t taken off?
There are a number of reasons for this. Firstly, cryptocurrencies are an extremely new industry. While they have captured the public’s attention in 2017, the number of people who own and use cryptocurrency is still relatively small. This number is rapidly growing however.
Perhaps even more problematic are the technical challenges for merchants in accepting cryptocurrency and the fear of fraud or chargebacks.
This means that merchants have for the most part stayed away from offering cryptocurrencies as a payment method.
KEYRPTO is a new e-Commerce, platform which believes it has a solution to these challenges. It is offering 100% buyer protection. It is also offering an easy-to-use shop builder which will enable anyway to setup their own online shop and start accepting cryptocurrency.
KEYRPTO is also helping to solve the concerns of the consumers. KEYRPTO is using escrow and smart contracts to make sure that the merchant only receives payment when the goods or services are safely delivered to the customer.
KEYRPTO will have its own native token called KYT. KYT is used by merchants in order to register an online store. If they don’t own KYT tokens then they will not be able to sell on the KEYRPTO platform. Setting up this store will cost 50,000 KYT. Merchants will also be able to upgrade the position of their store through the platforms SEO services. Again this will be conducted in KYT tokens
KYT Token can also be used to buy and sell goods and services on the KEYRPTO platform. KEYRPTO will accept a range of popular cryptocurrencies but if KYT is used there will be a 50% reduction off the transaction fees. Consequently there will be a natural incentive to use KYT token, compared to other cryptocurrencies.
Perhaps most interesting for people looking to participate in the KYT token sale is that a percentage of KYT tokens are burned every time that a transaction occurs. The amount of tokens which are burned decreases, as the overall supply falls. This means that there will be a decreasing amount of KYT tokens available as the platform becomes more popular. This should help to cause KYT tokens to rise in value.
The KYT token sale is set for January 2018. Approximately 510 million KYT tokens will be offered, with unsold tokens burned at the end of the token sale. You can find out more by visiting:
Keyrpto Website: http://keyrpto.com/
Keyrpto Whitepaper: http://keyrpto.com/Home/Download