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November 5 saw the launch of the ICO for Connectius, a project that intends to use blockchain to change the e-commerce market.
Connectius is a blockchain-based SaaS solution for e-commerce. The main issue that the project addresses is the need to increase transparency in e-commerce transactions, and it allows companies to decrease their e-commerce-related losses due to the actions of dishonest customers during chargebacks or cardless transactions through the use of smart contracts.
The service can be integrated into any retail platform to lower costs and increase security for all of the ecosystem’s participants: consumers of goods and services, who place orders within the system; suppliers, who provide these goods and services; and arbitrators, who resolve complicated situations between other users.
“According to research findings, in 2016 approximately 8% of e-commerce income was lost to fraudulent activity, and almost 40% of all attempted transactions did not result in purchases,” says Sergey Nosikov, Connectius co-founder and CTO, an IT and telecom expert with 15 years of experience. “Our goal is to bring down these figures to make the whole industry more open, secure, and beneficial for all the market players.”
Work on Connectius began back in 2016. The first Connectius-based mobile app, Connectius Experts, has already been developed. Using geolocation and smart matching, the app offers users a sorted list of people and organizations ready to sell the service they need.
The team intends to develop the project by conducting an ICO, during which they plan to raise $31 million. The funds will be put toward further product development.
Connectius tokens (CNT) will become a universal medium for all transactions within the system. It will be used as a means of value exchange for payment not just within the system, but also in apps based on the Connectius platform. This means that ICO participants will be able to use tokens to purchase specific goods and services from suppliers participating in the system. The cost of goods and services will be given in US dollars, which will be instantaneously converted into tokens by an external service.
“Our CNT tokens are not a security, cryptocurrency, or means for speculation. Rather, tokens are an element of our system that will be needed by all participants in these relationships,” explains Vasily Kozlov, Connectius founder and CEO, a blockchain enthusiast who has founded several companies. “The team’s goal is to ensure the ease and security of goods exchange through the use of CNT tokens.”
Before November 15 tokens can be purchased at a 15% discount, and through November 20 the discount will be 10%. Fundraising will continue through December 20.
Company website: https://www.connectius.com
White Paper (EN): https://www.connectius.com/docs/wpaper_eng.pdf
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Source: News Bitcoin