According to Statista, worldwide ecommerce sales in 2014 were USD 1.33 trillion and are projected to increase to USD 4.06 trillion by 2020. Globally, ecommerce is also gaining share in total retail sales. It is expected to increase from 7.4% in 2015 to 14.6% in 2020. Furthermore, according to Statista, the number of people buying goods or services online will increase from 1.46 billion in 2015 to over 2 billion in 2020. (1)
Bezop is a decentralized peer-to-peer ecommerce order management and processing system, an autonomous buyer-seller protection service, and a simple value added tax (VAT) collection system, all powered by smart contracts and built on a decentralized blockchain network. Bezop aims to provide a complete open source solution for running a successful ecommerce business online. Merchants can participate by selling products and services on their self-hosted ecommerce stores (the Bezop Decentralized Order Management, or Bezop DOM) and broadcast orders to the network. (2)
Clients spend Bezops when purchasing goods and services in the Bezop DOM and in other integrated sites that offer services and accept payments in Bezops. Conversely, one can earn Bezops by selling goods and services and/or by simply receiving Bezops via a wallet-to-wallet transfer. In the future, a Bezop Network will emerge where miners compete to mine blocks with sizable rewards. Before then, Bezop mining power will be proportional to active orders on the network, which means that the value of Bezop mining will not be limited to maintaining blockchain consensus. This creates an incentive for miners to fulfill as many orders as they can. Buyer protection techniques built in smart contracts reinforces the robustness of the network. Orders are encrypted end-to-end through the protocol’s order management portal and miners do not have access to decryption keys. Bezop works as an incentive layer on top of blockchain and computes a proof-of-order for any transaction, which makes Bezop particularly effective for decentralizing payments, building and running distributed ecommerce portals, and implementing smart contracts.
The primary objective of Bezop is to provide a viable and scalable ecommerce solution that will incentivize businesses and individual traders to sell goods and services using blockchain technology. Anyone can sell their products and services and get paid in Bezop without any programming. Bezop implements Proof-of-Order that lowers the rate of fraud for both merchants and consumers, using contracts powered by the Ethereum blockchain and secured cryptographically. Merchants can collect VAT and accurately manage orders.
Proof of Tax
A feature of Bezop’s is its ability to collect VAT and segment funds into two addresses. A primary (Main) address and a secondary (Tax) address. The proof of tax chain makes it possible to generate a table for all valid transactions, with funds split between the Main Address and the Tax Address.
The Bezop account wallet will be able to hold and store any Ethereum ERC20 standard token. ShapeShift.io integration will allow to convert between tokens seamlessly straight from the Bezop account. Users can convert Bezops between ShapeShift supported ERC20 standard tokens or buy Bezops directly with other ERC20 tokens. (3)
– Client 1: Jane is the owner of a small business that sells sports outfits and kits. She wants to build her own digital store where she can easily transact with her clients online without the frustration of having to pay massive fees for using a centralized portal to execute transactions. Bezop solution for Client 1: With Bezop DOM, Jane can instantly run a fully decentralized ecommerce portal without the need to access PrestaShop, Shopify, Amazon, or other centralized ecommerce stores that charge hefty transaction fees and/or monthly fees.
– Client 2: Jude is the owner of a large supermarket where he sells hundreds of items. He has an online store but is restricted to displaying only 200 of his products at a time. Bezop solution for Client 2: BezopDOM is optimized to allow as many products as Jude desires with a low memory footprint and storage requirements.
– Client 3: Ray is the owner of a large-scale business that sells products by category. He needs a simple solution to start selling online and needs to implement this structure without having to handle the complexity in design or programming himself. Bezop solution for Client 3: Bezop DOM is optimized to allow Ray to categorize and segment his store into multiple departments which his customers can access through an auto-generated menu. With a centralized version of the system, Ray would need to write a content management plugin and other codes, and re-configure various databases in order to achieve the same effect.
Use of the Bezop token (BEZ)
Bezop provides a network that processes cryptographic tokens. These tokens are the accepted form of payment (Bezop coin). Bezop’s smart contracts will autonomously manage the order’s state. In the event of a dispute, a smart contract can assign a human agent to make the final decision. Bezop charges a 1.4% processing fee from merchants. Of that, 1% will be used to maintain the services, support marketing, and cover payrolls.
60%: Crowdsale; 15%: Team and advisors; 15%: Storage; 5%: Strategic marketing; 5%: Token sale bonus.
Company and team
The team currently exists of 4 members and 3 advisors. Some team members are explained below.
CTO: Deryck Jones, has a Bachelor of science in Industrial technology and manufacturing and has a Master in information technology and digital communications. He has served as VP of R&D for the software division of a Massachusetts Institute of Technology spinout. He also launched Data-Force, a Salesforce development and sales partner, which delivered services to Sony, Canon, RFS, etc. by developing enterprise software applications and performing enterprise system integrations with SAP, Oracle, and Microsoft SQL Server. (4)
Lead engineer: Camelius Ubah, holds a Bachelor of Science in Computer Science and System Design and has been involved in several projects in the software space such as Flexy, an AI project built onto googleML. Working with a strong team of smart contract and blockchain developers, Blaze also leads the development of the Rainbow cipher technology, one of the wallet encryption techniques available today. (5)
ECommerce expert, public relations and advertising: Kevin Byrne, holds a Master Degree in ecommerce and an Honors Degree in Business and Marketing. He says he is an expert in Facebook advertising and has conquered several platforms such as Shopify. (6)
‘18 M6/7: Decentralize order management release: Stable release of Bezop DOM, marketing begins July.
‘18 M8: Merchant wallet release: Bezop merchant wallets and other smart contracts are finalised. Merchants can start selling with Bezop.
‘19 Q1: Bezop Network: Bezop splits to its own network.
‘19 Q2: Messier upgrade (security upgrade): Mandatory security review and upgrade is performed.
‘19 Q3: Andromeda upgrade (network upgrade): General network review and upgrade is performed.