Introduction to Gemstra: Gemstra is a blockchain based platform for social selling economy. It’s a first global marketplace which is going to connect sellers and brands in social selling. Gemstra is going to create Gemstra SDK and BOUTIQUE marketplace software for merchants who will be allowed to add their favorite social selling channels to the business. The blockchain based ecosystem ASTRA is a technology infrastructure which is specially developed for the merchants who want to join the social selling economy.
What are the problems in traditional social selling world?
The traditional social selling market and industry was controlled by few companies who have all the power of the market. It leads to many problems such as
- Sellers held captive: Companies were selling its products directly to other companies and hold the seller’s captive by making it difficult to do data transaction, transfer customer data and genealogy data. Sellers were at high risk to lose the income due to which they were doing hard work. The average seller salary was $250 to $500 after working for 10 to 20 hours. The merchants enjoy too much power and leverage in the relationship with the sellers.
- Inefficient market: New merchants were facing lot’s of problems due to the high entry barriers of a new space. The fragmented and expensive system wants the management of rewards, commissions, customer service, accounting, commerce and back office operations. The reduction in the market entrants were decreasing the opportunities for the sellers. An inefficient market is developed for the sellers when the merchants overprice the products in social selling. In the retail economy sellers were unable to compete with the brands due to less freedom.
What is the solution of the problems by Gemstra? Gemstra is introducing an ASTRA platform which will decentralize the traditional social selling model by giving management and ownership of information to the accurate actor. The smart contracts will allow the transparency of the transactions within the platform.
- Merchants will manage sellers and curate brands: The merchant’s job in ASTRA is similar to traditional retailer in retail market but the brands in traditional system were not good enough to manage the per order logistics, interfacing with customers and merchandising. So, Gemstra is going to involve retailers as merchants from wide retail economy to social selling. These merchants will interface with sellers or customers and curate the products from different brands.
- Democrative data: In ASTRA platform, the sellers will get the ownership rights of transaction data, customer information, and network. By using the transaction data, sellers can understand the customer in better way to develop a strong relationship. Seller are also allowed to build a seller network which they can easily sponsored. Seller network is a team which will work on compensation plan to unlock the achievements. Consistency is also maintained by the sellers.
- Rewards and customized commision by Brands: ASTRA platform is allowing the brands to offer customized commission to the merchants. All the brands are created unequally. Brands wants an effective way to deal with the incentive of sellers at per product level and catalog level. So, ASTRA platform will fulfill all the demands of a brand.
- Brand integration Portable catalog: The brands can easily get exposure to the several seller networks and their catalog can be integrated with multitude of merchants.
- Decentralized Model: Gemstra is going to introduced a blockchain based ecosystem where all actors will have a fair behavior. Merchants, sellers and brands will do right by each other. There is no third-party involvement and a true commonwealth sense will be promoted in the social selling economy.
What are the main components of Gemstra?
- BOUTIQUES: For social selling, BOUTIQUE is a decentralized marketplace. It will allow the sellers to choose the products and brands of their own choice to participate in the retail economy by easily integrating their catalog. The rapid growth of BOUTIQUES proved that sellers want a freedom and retailers want to get involve in social selling.
- ASTRA platform: The BOUTIQUE success inspired Gemstra to create ASTRA which is a blockchain based technological infrastructure for the social selling market. The sellers are allowed to keep the network and customer data, brands are allowed to offer rewards and commission with portable catalog which is integrated with several merchants, and merchants are allowed to host the transaction between myriad sellers and different brands.
What are the benefits to use Gemstra platform for social selling?
- Sellers: Seller will get the freedom to choose any product and merchant. In the Gemstra ecosystem, sellers can participate with any brand or merchant. The transaction and user data of the sellers will belong to them. They can control the data access on the platform.
- Merchants: Merchants can use the BOUTIQUE open source software to participate in ASTRA or can integrate their platform to ASTRA through SDK. The merchant’s layer is allowing the retailers to activate the dormant customers/ influencers by participating in social selling and attracting many brands to do business.
- Brands: With the help of smart contracts, brands can control each transaction settlement economy. The brands will get more exposure on this platform because their products will be listed across multiple merchants.
- Customers: Customers will get more opportunities to deal with wide range of products with their family or friends who are actively involved in social selling.
Which token is used on this platform? Gemstra is utilizing ERC-20 based GMS token for ASTRA platform. This token will be used for commission friction for sellers and reduced the payments. The robust rewards will be offered to the actors in the form of GMS token. Token Detail:
- Token name: GMS token
- Token supply: 16,000,000,000 GMS
- Tokens for sale: 6,400,000,000 GMS
- Token price: 1 token = $0.01
- Advisors, Bounty, Partners: 10%
- Rewards, commission: 30%
- Sale pool: 40%
- Founders: 20%
Conclusion: Gemstra is a blockchain based platform which is going to liberate the social selling economy. Gemstra is using cryptocurrency and smart contracts to provide the best solutions of traditional social selling problems. Its revenue model is based on BOUTIQUE (which is connecting brands and sellers) and ASTRA (in which BOUTIQUE is a merchant). Gemstra is charging 1-2% in trolling and monthly fees from brands and merchants who use ASTRA. If you are interested in future oriented cryptocurrency plans then visit Gemstra website to collection more information. Links of Gemstra:
- Facebook: https://www.facebook.com/gemstraofficial
- Twitter: https://twitter.com/gemstraofficial
- Website: https://gemstra.com/
- Whitepaper: https://docsend.com/view/xvyqq7a
Author profile: Hobo66