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.
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.
|Start||May 1, 2019|
|End||July 31, 2019|
|Soft cap||$1 500 000|
|Hard cap||$13 100 000|
|Minimum investment||1 USD|
|Tokens for sale||170000000|
|Accepting||BTC, ETH, BCH, LTC|
I have just visited the official website of AlphaX and found out that they already have around 22 thousand users, which is a decent number, I guess. But after that, I saw a pop-up ad which said that the project offers a 100% ‘end of ICO’ bonus for all investors, which made me wonder if the AlphaX is doing all right, because they wouldn’t have been so generous if the sales were booming, at least in my logical framework. Regardless of that, AlphaX introduces quite an appealing idea of combining e-commerce with AI. I think that it holds great potential, so I wish best of luck to AlphaX.
Alpha-X touches all the right pain points of the contemporary retail industry, such as data security, transaction fees, etc. I have read their whitepaper and studied their product, all of which are logical and feasible from the technical standpoint. But what worries me is that the online retailers, in general, are not prepared for such radical changes, they are not willing to explore something totally new, like cryptocurrencies. These people would rather keep selling on the familiar Amazon and eBay - which are ripping them off without having too much of a concern for data security - than go into unchartered waters. Therefore, I think Alpha-X will have its fair share of users, but it would be too far-fetched to say that they will disrupt the industry.
As a huge opponent of any form of monopoly, I must say that I am really excited about AlphaX. It is my conviction that projects like this one will finally bring down the dominance of Amazon, eBay, Alibaba, which have practically usurped the industry of online retail. High commission, ridiculous user terms - I can’t even begin to tell how much we need projects like AlphaX to relieve us, online retailers, from this burden.
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