AlphaX (AlphaX) Review

It is apparent that e-commerce is a booming industry that opens up a lot of opportunities for industrious people all over the world. According to the official statistics, 1.8 people are engaged in online commerce either as sellers or as buyers, which constitutes 22% of the global population. In 2018, the sales made via e-commerce platforms were not less than 12% of total retails sales both at online and brick-and-mortar stores. By 2021, these figures are expected to reach as much as 18%. Lastly, Paypal, the most popular payment gateway for the participants in e-commerce, reported that they currently maintain 267 million active accounts.

All these stats serve as eloquent evidence that e-commerce is an immensely lucrative scope of activity with the potential to vastly expand in the nearest future.

However, these encouraging numbers don’t characterize the situation as a whole. As almost in any area of business, there is some party that tries to capitalize on somebody else’s efforts. In the case of e-commerce, the problem lies within high commissions and middlemen fees, imposed on the online entrepreneurs.

Since one of blockchain’s main objectives is to eliminate any third party and make financial transactions much cheaper, it would have been natural for a blockchain project to make an attempt at solving the mentioned issues.

AlphaX is a Marshall Islands-based startup that has set itself an aim of infusing the blockchain technology with the power of artificial intelligence thereby creating an e-commerce platform that would benefit the sellers and buyers, not the man that tries to get in between.

The mission statement and solutions by AlphaX

---

In addition to the problems specified above, AlphaX offers a solution to other burning issues that concern not only e-commerce - data security and transparency of operations. Big companies like Amazon, Alibaba or eBay have enshrined the right for themselves to store the customer data on centralized servers and use it at their own discretion.

---

• A blockchain-based decentralized peer-to-peer marketplace that is run with the help of artificial intelligence. The AI is responsible for collecting and analyzing data, improving the search function, providing assistance to the network users through cataloging, customizing user experience, and overseeing the chat bot functions;
• The fully-fledged crypto payment solution that features the ERC-20 compliant utility token named AX Coin, the ready-for-download Alpha-X Wallet developed on the basis of Scrypt algorithm, and integrable Alpha-X Exchange that allows for trading fiat to crypto and vice versa, and is absent of any trading fees. All transactions, carried out within the framework of AlphaX ecosystem, are also commission free. 
• The variety of marketing options and loyalty programs realized through the extensive use of AX Coin and the cooperation with other crypto exchange platforms, such as Localbitcoins.