SANTA CLARA, Calif.–(BUSINESS WIRE)–June 13, 2018–
ApolloX is proud to announce the launch of its decentralized global blockchain platform, that will empower future e-commerce businesses with trust, transparency, data ownership and minimal fees.
The ApolloX platform, which is built on blockchain technology like smart contracts, is incorporating decentralized e-commerce applications and services to create an open and democratic ecosystem. Here buyers and sellers can directly connect and have an optimized online shopping experience without monopolistic intermediaries.
Every transaction on ApolloX is peer-to-peer, excluding all middlemen. This saves sellers from paying extra fees and gives shoppers lower product prices. At the same time, ApolloX protocol protects both parties from fraud and disputes with smart contracts and community based arbitration at no extra cost. All shopping data is encrypted and permission enabled, only accessible to service providers with the customer’s permission, which ultimately solves privacy issues and reduces unfair competition.
As a decentralized platform supporting e-commerce shops, the ApolloX protocol itself is managed and checked by all members and kept open source. Every aspect of ApolloX, from the token economic to the user experience design, is built to promote and reward positive community contributions from buyers, sellers, manufacturers, and service providers.
ApolloX founder and CEO Will Li believes that more brands will use decentralized e-commerce platforms as their primary online sales channel because they offer transparency and independence.
“Today’s e-commerce industry forces sellers to pay anywhere between 25% to 50% of the sale price to gain traffic and trust. Blockchain technology and token economy is a promising solution. By rewarding positive community contributions, ApolloX can reduce the cost of traffic and trust by more than 50% and form a transparent and equal e-commerce environment. Products will be 10% cheaper and you’ll never have to worry about scams or disputes when shopping on a new site. This is going to be a revolutionary shift in e-commerce,” says Will.
The ApolloX platform is being created by the team behind Apollo Box, a Silicon Valley based e-commerce company that has over 800 vendors, close to 1M active users in the US and has been featured in prominent publications like BuzzFeed, HuffPost and TechCrunch. Made of individuals from notable schools and companies like MIT, Stanford, Duke, Newell Rubbermaid and Google, the ApolloX team has extensive experience in cross border e-commerce and blockchain infrastructure.
Today ApolloX has completed their angel round investment and is backed by notable investors Amino Capital and Hofan Group. The ApolloX Token Wallet is now integrated into the Apollo Box app and the ApolloX beta is scheduled to launch in December 2018.
For more information, please visit https://apollox.network/.