With the growth of digital penetration, the concept of social commerce is gaining traction. It creates a collaborative environment where buyers and sellers can interact directly with each other without the need for intermediaries. Having said that, there are certain challenges that are hindering the growth of social commerce - the most prominent ones being logistics and supply chain inefficiency, and lack of authentic information. Release Co. Ltd. has developed a well-rounded platform based on blockchain technology to help businesses and consumers overcome these challenges, and engage with each other in a safe, secure, and transparent environment.
Release: Social Commerce Marketplace
‘Release’ is an e-commerce marketplace that operates through direct social interaction. The project is equipped to serve social e-commerce across several industries. However, it primarily focuses on the agriculture and fishery industry. Merchants can showcase authentic information about their products on the Release platform. Interestingly, anyone can register and publish authentic information about products and services on this social commerce platform.
The project has adopted a unique business model. Publishers on the platform can earn points (ad-revenue) depending on the number of views they get on their posts. They can then redeem these points in exchange for the platform’s native token named REL. These tokens can be used to pay for goods and services on the Release e-commerce marketplace. REL is already listed on exchanges like HotBit and p2bb2b.
Revolutionizing Agriculture and Fishery Logistics
‘Release’ solves logistical problems by maintaining a real-time social commerce ecosystem. Once a product is sold, every stakeholder, including the registered seller, buyer, delivery agent, and transport agent get an instant notification, thus enabling a smooth transaction. Interestingly, Release also has a wide distribution system that further strengthens its resolve of optimizing social commerce as well as the global fishery and agriculture logistics.
The reason behind the efficiency of Release’s social commerce platform is the fact that it operates on a robust blockchain framework powered by advanced smart contracts. Moreover, it is transparent and decentralized that ensures the authenticity of products as well as information on the platform. The entire process starting from payments to order confirmation and product shipping is smart contract enabled and automated.
This essentially solves two major problems that have served as hindrances in the growth of social commerce, especially in the agriculture and logistics industry. Firstly, it drastically optimizes the logistics and supply chain framework, by mitigating the need for intermediaries. Secondly, the decentralized nature of Release ensures data integrity and information authenticity, both of which are crucial aspects of social commerce.
The astronomical growth of e-commerce over the last decade majorly reflects the demand for convenience both for buyers as well as sellers. In today’s digital world everyone wants to make informed purchase decisions on the basis of authentic information. Moreover, they also want convenient and seamless shopping. On the other hand, sellers, especially from industries like agriculture and fishery are constantly looking to tap into a global audience, so that they can scale their businesses effectively.
The Release Project facilitates all of these, while also offering additional benefits. Factors like AI-based search algorithms, the implementation of big data for accurate information processing, etc. are few among the many stand out features of Release as a social commerce platform.
To know more, please visit the official website
of Release Project.
Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.
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