E-commerce has become well acknowledged by entrepreneurs, consumers, companies and industries both local and international as one of the most powerful tool for penetrating new markets regardless of physical location.
E-commerce has been around since the mid 90s and still remains critical to businesses and customers. However, there is trouble in paradise, as eCommerce is left facing not one but multiple threats including scams, trust issues, and hacks attempting to gain consumers’ data in any way possible. With these issues, the only practical solutions that can effectively release eCommerce from the shackles holding it down remain the decentralized and disintermediated ones the blockchain affords.
Blockchain stands as the answer to the problem of opacity, security, and trust that dog the eCommerce industry. This revolutionary technology facilitates the immediate settlement of all issues and exchanges through smart contracts without requiring any human intervention. As thousands of data records are frequently lost or misplaced on centralized databases, giving rise to consumer concerns about the safety of their data, the decentralized nature of the blockchain ensures that there is no centralized point of failure or breach. This is a key feature of Runs.com’s revolution of the eCommerce industry.
Built on Digital, Decentralized Trust
Runs.com, the world’s first Blockchain based eCommerce platform, aims to resolve both current and future issues affecting eCommerce, targeting more than 2.5 billion people. Headquartered in Singapore with branches in New York and Bangalore, Runs.com is building a global community of people from 25 countries and 125 cities. It places the decision-making powers in their hands rather than the platform, with its decentralized nature.
Runs.com was founded by Giri Devanur, an Alumnus of Columbia University, winner of EY Entrepreneur of the year award in 2017, and CEO of AMERI100, a company that has successfully made its path to NASDAQ within just four years.
“There is a massive shift away from traditional e-commerce to experiences driven community commerce” says Giri Devanur, Founder and CEO of Runs.com at the announcement launch. “No other company has managed to capture experiences and curate them in the past. With Runs.com we are looking to leverage the exciting Blockchain technology to allow people to share their memorable moments within the community. Initially, we will be focusing on Cricket, Cinema and Coffee enthusiasts around the world.”
Giri is joined by Stanford University Ph.D holder Dr. Artit Wangperawong as the Chief Technical Officer in the disruption of the traditional eCommerce market.
“Blockchain technology is uniquely poised to disrupt a swathe of industries” Dr. Artit Wangperawong declared. “At Runs.com, we’re developing the platform along with our signature XKU’s to address the needs of world commerce and to deliver the best experiences to people on one decentralised platform. We are committed to attracting talented individuals to join our team to make Runs.com the premier commerce platform across the world.”
Incubated at Columbia University’s Innovation and Entrepreneurship program, Runs.com will augment traditional eCommerce platforms that use SKUs as the essential way to identify units to a groundbreaking method of tracking of method of Identification known as Experience Keeping Unit (XKU). XKU utilizes the 3-S parameters — Story, Source and Sustainability – to score every experience. The XKU is a service and product identification code for an item that helps track an item from inventory, and can be attached to both physical and non-physical products in any inventory. While XKU has the basic elements of SKU – like the size, color, price, brand, manufacturer and style – the protocol takes it further by integrating three S-factors for unique experiences, transparency, and accountability on the blockchain.
Token Generation Event
The Runs.com Token Generation Event (TGE) consists of 2 phases: Presale and main crowdsale. A total of 75,000,000 tokens will be made available to contributors, with a 30% bonus for early birds. This bonus is strictly on a first-come-first-serve basis.
Runs closed a seed funding round of $1M backed by Panamax Capital, Columbia Angels and Beast Capital.
Learn more on the Website: https://runs.com/
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