As the years continue to go by, the cryptocurrency adoption rate seems to be speeding up. Existing coins like Bitcoin, Letecoin, and alike are getting accepted by more and more merchants and services. Major companies like Facebook are even launching their own coins, and the same is true for banks, such as JP Morgan.
The crypto trend still has a long way to go to mass adoption, but it seems to finally be on the right path, and its progression is speeding up. The number of coins has grown by 20% in the past six months, and more coins are on their way of seeing a launch. Different use cases will make different coins useful in different areas.
Many of them are becoming useful only when it comes to fueling their own blockchain network, although others are becoming accepted in eCommerce, being used as collateral, and many other uses.
However, shopping with coins will always be one of the most popular use cases when it comes to regular people, regular users. You may already be able to buy a cup of coffee with crypto even now, but you are far more likely to find merchants that accept cryptocurrency in online shops. This will increase in years to come, and you will soon also be able to buy luxury, fashion items. In fact, there is already a project dedicated to allowing just that, and its name is TRONA.
As mentioned, TRONA is a project that aims to offer its tokens to people who like to buy top quality merchandise. Particularly, TRONA targets the fashion industry, allowing people to buy expensive, fashionable items from websites, and have them shipped to their own home.
The project claims that this way of purchasing things would be cheaper and safer, which is likely true, thanks to blockchain technology. Blockchain typically makes purchases safer, faster, and cheaper, especially when it comes to international purchases, like the ones that TRONA aims to offer. Making international payments with traditional payment solutions takes days to have your payment processed.
Not only that, but it also comes at higher fees, which sometimes even have to be paid to more than one service. In other words, it is not up to modern standards. Not to mention the fact that expensive items require more security, as they are often stolen or 'lost.'
Proving ownership can also be an issue since expensive items require such details to be properly handled. With the blockchain being distributed, decentralized, and completely immutable — this problem is easily taken care of as well. TRONA's platform will make it possible for you to buy a wide range of items, get them shipped to you, and have your transaction handled cheaply, quickly, and safely. All it needs now is the actual token that will make it all possible.
As mentioned, TRONA needs its token in the hands of its consumers, which is why it is currently holding an ICO, where its tokens are getting sold and distributed. The ICO is selling a token called TRA. The token sale is actually approaching its end. After it started on December 25th, 2018, it will end in only seven days, on September 9th.
The TRA token was developed on TRON's network, making it a TRC-10 token, Furthermore, it has a price of 1 TRX, which is approximately $0,015534.
Unfortunately, not a lot more is known about the token or the ICO. Details like hard and soft caps are unknown, which could be a concern for most investors.
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The idea of using blockchain to verify the authenticity of luxury items offered by Trona is so flawed. Let's say that you want to buy a piece of fine art. In that case, you would have to trust the competence of the first appraiser, and only him because his final verdict would be written on a blockchain, thus immutable. But what if that appraiser has failed to distinguish the fake from the original at that time and the fact of forgery was discovered later? Would it be necessary to create a new chain in order to write down the correct information?
Trigger Happy Jay January 25, 2021 Reply
Trona is definitely not the kind of blockchain project that will reach for the stars, but the idea that it presents is quite valuable. Fashion might represent a narrow niche of the whole retail industry, but it is certainly one of the most attractive investment-wise. I am more than certain that Trona will not be able to produce any meaningful results, but it serves as an indicator of a trend towards combining blockchain and the business of fashion.
GiannY November 1, 2019 Reply
Why would fashion retailers need something like TRONA to sell their high-end products for cryptocurrencies? All they need is to partner with some Bitcoin payment solution and offer customers a means to pay in BTC, or any other popular cryptocurrency. No one would want to go through the trouble of buying some unknown token to pay for posh merchandise in selected online stores. TRONA's business model is flawed at its core.
DannyYY October 6, 2019 Reply