Qoo10 launches its blockchain e-commerce platform at no cost in January 2019

The world is accepting the role that cryptocurrency is playing in the world today, especially the merchants who accept cryptocurrency. Traders, however, soon give up their idea due to the lack of demand and the high costs faced by One of South Korea's largest blockchain e-commerce platforms, Qoo 10, also known as QuuBe, announced that it will launch a platform without fever for traders.

The announcement made on TechAsia Thursday also stated that the platform is running a test network on mobile and desktop devices. The main network version of QuuBe (pronounced cube) will be released at the beginning of January 2019.

The QuuBe e-commerce platform

The Qoo 10 platform is created on the Ethereum platform and uses intelligent contract technology to verify and regulate payments between merchants and consumers. The platform uses its native tokens, Q * currency, a private blockchain token created by Qoo10 for the market and the only acceptable purchase currency.

The decentralized market offers traders an ageless platform, thus increasing their competitive advantage over other markets.

The founder of Ziliqa (ZIL), Xin Shu Dong, talked about e-commerce and blockchain coming together saying:

"While e-commerce moves on the blockchain, the redistribution of power – no longer the exclusive property of retail giants – will allow more ways of collaboration, creativity and competition Smart contracts will also improve friction points along the chains of supply since the transactions are subjected to a methodological process of verification and execution ".

QuuBe advertises its main source of income

The company's managing director, Ku Young Bae, also clarified that despite the merchant not paying a commission, he will be charged for advertising on the platform.

As mentioned before, the market will only allow the purchase of goods and services through the Q * token at the moment for $ 1 USD. The price is set by the developers of Qoo 10 to eliminate the extreme volatility in the cryptocurrency market today. I will make a stable currency privatized for the Qoo 10 market.

The Q * token will be stored on a private blockchain unlike Tether (USDT) and prices will be checked manually by the Qoo 10 team. Stability will allow merchants to accept cryptocurrencies without worrying about asset volatility.

The Qoo 10 also focuses on people not rented in the South Asia region in addition to the e-commerce system. Mr. Ku also said,

"Usually [put your] money in the bank; I would not put money in a private company [mobile wallet]. The company could go bankrupt, they could simply change the data, either [money] can be stolen Unless trust is built, you can not be sure that the top-ups in the wallet can be the same. These obstacles are solved by the blockchain because the blockchain wallet is not something that we can modify and access. Only you can access it. "