Imagine a world where all online e-commerce is united with a single inventory base. From Amazon to Alibaba, eBay to Etsy, Jet to JD.com, what if the world’s most popular marketplaces shared the same items, making it easier for you to buy what you want at the best price? This is the vision of Spl.yt: a new e-commerce paradigm that is easier to use and secured by blockchain. Let’s take a look at how such a system would make life easier for buyers, sellers, and marketplaces alike.
Taming the Tedium
One of the most time-consuming parts for online retailers is keeping inventory current and up to date. This is especially challenging when items are listed on different marketplaces. When an item is listed for sale on several sites and is then purchased on one, the vendor must update the listing on every site individually. If there is an error in this process or somebody drops the ball, the retailer may double-sell the item, leading to unhappy customers, unflattering reviews, and frustrated vendors. Spl.yt solves these problems by seamlessly and securely connecting inventory records and transactions across all marketplaces. So as soon as an item is purchased on one market, it is delisted from all the others. No more checking and updating multiple listings manually.
Painting the Picture
Let’s go through the process of how the global e-commerce inventory of Spl.yt works. Spl.yt’s infrastructure helps online retailers to connect to the blockchain and utilize smart contract technology for maintaining, listing, and selling the best products online. The blockchain helps with transparent and secure transactions while Spl.yt’s smart contracts enable consumers to do things like fractionally purchase any item that is impractical to buy on their own (think yachts or even planes).
You can imagine how this new tech will be useful in your daily life by accessing our alpha to imagine. There, you will see a dashboard with a user’s identifying info and stats, such as email address, wallet address of SAT tokens, and balances. Across the top are three clickable menu options: ALL LISTINGS, SUBMIT LISTINGS and MY PURCHASES. And under that is a handy search bar to help you find what you’re looking for. Once a buyer decides on an item, making a purchase is quick and easy using SAT tokens. As you can see SATs, are automatically deducted from your total balance once you buy an item. These features and more are available to any marketplace who leverages the power of decentralization by linking to our easy-to-use SDKs.
Further, if you click CHECK MARKET II, you will see how buyers are not limited to any specific marketplace as any Spl.yt-powered marketplace has the same inventory. This gives every buyer the best options for finding the best product at the best price without having to browse multiple stores.
Smooth Sailing for Sales
The alpha also shows what it would be like for a seller conducting business on Spl.yt power marketplaces. If you click the SUBMIT LISTINGS tab, you will see a simple form to enter an item’s details like title, description, and price. The form also has an optional referral reward, which can be paid to another site if they help find a buyer. In this way, Spl.yt is an automated affiliate marketing brokerage and incentive service that includes invoicing and payments. All without expensive headache of interacting with greedy intermediaries.
Like any blockchain-app, you can verify your transaction trail on the blockchain by simply clicking the CHECK BLOCKCHAIN tab on the left. And, like how buying an item de-lists it from other websites, you can see how Spl.yt automatically populates your new listing across multiple marketplaces by clicking the CHECK MARKET II. Further, because all Spl.yt payments settle upon completion, unpaid and inaccurate affiliate marketing agreements are a thing of the past. Everyone, from social media influencers to drop-shippers to individual consumers, can benefit by using Spl.yt to post listings to their websites or other social media channels.
There is another unique feature in this section: the option for “fractional sale” of an item. This feature allows consumers to buy pieces of something like they would a timeshare, which (once funded) they can seamlessly and collectively manage, monetize, and book time to use and enjoy. If you select this option, you can enter Asset Type, Yearly Cost of Ownership, and Funding Duration for a fractional item. Sellers can sell any asset for fractionally, like cars, musical instruments, season sports tickets, or even a private jet. (More details on this in another post!)
No More Marketplace Migraines
When many websites and marketplaces work together through Spl.yt, they can focus on competing on what matters most to customers — like shipping costs/delivery speed, support, niche expertise, etc. Further, independent sellers will love these features as well. For example, when Amazon, eBay, and textbooks.com are all on Spl.yt, a student selling their old textbooks can list to one website and the Spl.yt protocol will take care of the rest to make sure the listing is in front of every potential buyer. Everyone saves time, energy and money with Spl.yt!
Every marketplace worries about the threat of fraud and dissatisfied customers. They know how fake listings can scare away customers and cause unnecessary disputes, all while distracting from their quality products. Fake web-crawler/bot hits are notorious for running up click-through marketing commissions. And a hack or failure of centralized marketplaces can lose sellers’ revenue and customer respect.
Spl.yt counters these issues with token economics, decentralization, and smart contract security. In the Spl.yt ecosystem, customers and sellers can easily settle disputes through our Dispute Resolution Protocol, which ensures any complaint is painlessly and fairly resolved. Token rewards entice anyone to police spam from the comfort of their own home. And because decentralized smart contracts are always running, sellers can know commissions are only paid when due and only quality products are listed — all without downtime. Every existing marketplace will enjoy an upgrade with Spl.yt.
We are only limited by our imaginations for what is possible in Spl.yt-powered e-commerce world. Join us as we change the way people shop online. Learn how today at https://www.spl.yt/