The ARAW loro

November 04, 2018

ARAW ICO

The Araw platform addresses fundamental problems in the e-commerce and cryptocurrency economies. Firstly, retailers online and offline offer restrictive reward systems bundled with their services – they are often of little value to the consumer given their limited nature. Reward systems in commerce as a whole are underutilised due to the lack of technological investment. Coincidentally, many companies find it difficult to provide attractive reward schemes as they risk undervaluing their services. The ‘Unified Reward System’ allow service providers to become an ARAW token distributor, allowing them to control the format of their reward plans. The ARAW token is now acts as more than a simple reward point – as it is utilised and redeemable across all of ARAW’s ecosystem participants. Additionally, owners of ARAW are able to convert their tokens into fiat currencies via ARAW mobile wallet & take cashback to their associated bank account.

The ARAW Token Solution

The Araw Platform offers a practical solution to the problems outlined above as well as the potential to become the practical heart of e-commerce and cryptocurrency combined. It strives to reward shopping with cryptocurrency by exposing the common person to the ARAW token. The key focus of ARAW is giving effortless access to cryptocurrency ownership which comes with potential rise in value – without dealing with any of the underlying complexities which make cryptocurrency unattractive.

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CONSIDERING THE BLOCKCHAIN TECHNOLOGY

However, almost every sector of the global economy is represented on the blockchain technology. Some of which are, finance sector, banking sector, Health, Agriculture, Insurance. Etc I can go on and on, with the list inexhaustible. Nevertheless, the blockchian technology is not without its challenges, some of which are the

-use of centralized exchanges in a decentralized world

- Unavailability of reliable, international exchange which allows individuals to convert tokens into fiat currency across the globe.

- Lack of real life or practical use for cryptocurrencies.

- The need for specialized blockchain developers

- High transaction fees leading to a reduction in the value of token etc. Hence the need for this article.

E-COMMERCE

Good enough, the essence of this article is to bring to your notice the introduction of a unique project into the blockchain. I am referring to the E-commerce. Simply implies electronic commerce. As we all know, the true aim of introducing the e commerce was to facilitate prompt and efficient business transactions between companies and consumers as well as individual consumers with the use of the internet facilities. The following were supposed to be the advantages of the electronic commerce over the analogue method of business transactions:

-Easy to start and manage a business

- Faster buying/selling procedure, as well as easy to find products.

- Transacting business all round the clock

- More reach to customers, without geographical limitations.

- Low operational costs and better quality of services. Etc

Sadly, although the ecommerce industries are striving to stand out, yet real aim has been defeated. This is why it was necessary for the ARRAW team to develop and introduce the first Decentralized payment platform using the blockchain technology.

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