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Saturday, 28 July 2018

GEMSTRA | The Future Of Social Selling

Gemstra-ICO-Review, Blockchain, Cryptocurrency
Direct selling happens to be a lucrative part of today’s economy and it falls directly under the retail market, which is worth 24 trillion dollars as of 2018. This type of business model involves brands, sellers, and merchants who are responsible for marketing an array of products with the hope for generating leads in return. Since it is a multi-trillion-dollar industry, the need for cultivating transparency and immutability in the proceedings is quite important. This is precisely where Gemstra comes into play and offers its blockchain based decentralized infrastructure.

The problems it addresses

If you have ever been a part of social selling (a.k.a direct selling) in the last ten years, you must be aware that there is a huge monopoly in the market and only a couple of billion dollar companies are ruling the marketplace. Well, with its decentralized technology, Gemstra aims to break this monopoly and bring everyone in the game. 
Furthermore, it allows more merchants on the platform and at the same time, guarantees freedom to pretty much every seller. Unlike the traditional market, where you are expected to pay a hefty sum for being listed in any of these programs, the charges are quite minimal. Which means that in order to be a direct seller of merchant ABC, you do not have to pay whatever they demand. In fact, there will be a minimal price that everyone could afford. This is quite a thoughtful feature, enabling even the ordinary sellers to compete with already established merchants on an International scale.

History

Prior to launching Gemstra, the team has a history of running a successful venture, called BOUTIQUES. It was launched in 2017 and the main idea was to allow sellers to partner with an array of brands and integrate their catalogs on websites in order to gain visibility in this multi-trillion-dollar industry. The results were surprising and within 7 months of its launch, BOUTIQUES attracted 8 major brands together with about 3000 sellers from all over the Globe and it allowed the project to raise a 7-figure income. This was pretty huge and gave the team a sheer confidence to launch a broader project in the market, named Gemstra.

The roles of actors

Essentially, there are 3 main actors in this ecosystem and each one has different roles. Every actor plays its part in order to keep the entire system functioning.

Brands

These are the businesses willing to derive sales for their products. Brands define different types of commissions for their merchants and each brand is allowed to have as many merchants as it desires. It also has access to sellers and customers buying the product.

Merchants

In the hierarchy, merchants are directly tied to the brands. Each one of them is allowed to link itself with multiple brands (which is not the case in the traditional market). They are responsible for administering the software, defining compensation for sellers and hosting the network.

Gemstra-ICO-Review, Blockchain, CryptocurrencySellers

Sellers happen to be the end point of marketing in this hierarchy and they are responsible for using their social influence in order to drive sales for the upper actors in the hierarchy. 









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Auther's Details:

Bountyhive username: 
RaihanShakeel
Eth Address: 0x7E676D85d45acc57A7483F3DE33BF6E87A42b10e
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Item Reviewed: GEMSTRA | The Future Of Social Selling Description: A Blockchain infrastructure which will help the sellers to develop a separate and easy source for the merchants and trends to deploy a successful business Rating: 5 Reviewed By: Unknown
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