Hi guys! Its been a while since my last post. I found a great team who decided to use ProximaX that utilizes NEM Catapult as its underlying layers of blockchain. Then we ventured into a project - an innovated online shopping platform.
Conceived in 2017, CashCart is building a vibrant online shopping platform enriched with a trustless and decentralized reward system integrated with NEM. CashCart will utilize NEM blockchain as a record system of every executed smart contract. ProximaX will be used as a cutting-edge storage layer.
CashCart aims to reward active and responsible members of the CashCart e-marketplace. Gone are the days when you only expect to receive what you ordered online or make profit from what you have sold. Within the transaction process of buying and selling, tokenized reward awaits a user.
Empowered by social commerce within the platform, user impressions such as likes, shares, comment/reviews, ratings and even blogs are rewarded. These rewards are tokenized with the CCNX coin, a NEM mosaic. The CCNX is a stable coin pegged at current USD rate with an equivalent of 0.02USD/CCNX. The tokenized rewards are transferable P2P and can be used to purchase items within the shopping platform. It is also convertible to cash and can be cashed out anytime (This feature is initially available in Philippine peso only).
User rewards are determined by the Proof of Transaction (PoT). The PoT is the consensus mechanism of the CashCart system. Depending on the behavior of both merchant and shopper during transaction, it calculates how much reward a user can get. Tokenized rewards are not only given for every buying and selling transaction. CashCart also provides other reward faucets to all participants in the ecosystem. From completing a user account profile, writing a review about an item, rating a transaction peer, listing an item in adherence to its policies, referring someone to buy and sell in the platform, and buying a Shopping Credit Voucher (SCV), a user gets a tokenized reward. Using the platform’s own cryptocurrency is highly encouraged of its members and users who top up his/her e-wallet via his/her CashCart account will get more rewards.
These rewards are the best way we can think of to incentivize responsible shoppers and merchants as we believe in the saying, “Take care of your people and your people will take care of your business.”
Running in parallel with a stable and secure platform, CashCart has come up with a unique way of providing logistics and delivery solutions through its Pick-O delivery system. Pick-O is a decentralized shipping strategy designed for efficient and fastest delivery running on the NEM blockchain for CashCart.
Anyone who wishes to become a Pick-O Man (Pick-O deliveryman), undergoes a thorough KYC procedure, including business compliances with the respective laws of a country. Pick-O executes smart contracts for shipping and records the events on the NEM blockchain. All appertaining data will be saved in a storage layer secured by ProximaX.
The Pick-O App, its downloadable mobile application, is available and compatible with the Android, iOS and other web browsers. Its primary function is to receive and broadcast the seller’s shipping order. Every shipping order are created as a smart contract and anyone with a Pick-O account can respond to the order. Both the shopper and the merchant will receive a full profile description of the delivery personnel, the expected time of arrival (ETA) of the item, and a full-featured map showing the whereabouts of the Pick-O Man. The shipping smart contract comes with multisignature where the shopper, merchant, and Pick-O Man sign through a QR code. Once the smart contracts are signed, shipping payments are instantly paid in CCNX to the Pick-O Man. In like manner, merchants are paid for their item sales and shoppers are rewarded in CCNX by the fulfilled transaction.
ProximaX Mosaic: CCNX Adoption
CashCart offers a wide range of payment options. A shopper can check an order out using Visa/MasterCard, debit/credit card, and PayPal or even Cash On Delivery (COD only applies in selected cities in the Philippines). Although using fiat as currency, both merchants and shoppers are rewarded in CCNX via Proof of Transaction.
Upon creating a CashCart account, each member is presented with a decentralized CashCart e-wallet. This wallet is on-chain and compatible with the NEM nano wallet. Inside their user account, members can top up their e-wallets with CCNX using a fiat source and more rewards are given to users who do so. CCNX is available in the platform as a Shopping Credit Voucher (SCV), a wallet top-up, and eventually at accredited top-up retail stores.
Pick-O delivery fees are paid in CCNX. Thus, favorable conversion and exchange between CCNX and XEM are facilitated among users for all transactions within the platform.
We believe this project has a value proposition and working model._
Soft launch on October 22, 2018!
CashCart decided to use ProximaX Private Chain for everything, beginning from KYC system to Storage system, to Mosaic, and eWallet integration. CashCart is ProximaX first live private chain showcase NEM Catapult blockchain!