A great product at a great price means nothing if the source of the product has a tarnished reputation for quality, service, or delivery. Buyers also have valuable reputations to guard, though reports are often listed on certain sites, and not on others. In addition, most marketplaces manage their reputational systems internally, meaning buyers and sellers must build and manage their reputations across multiple marketplaces from scratch over and over. Spl.yt syncs reputation scores across e-commerce sites, resulting in the strongest ratings and review system possible.
Dispute Resolution
Dispute resolutions with customers can be especially challenging for vendors since different platforms might have very different policies. This lack of consistency calls for more time and energy on the part of both buyers and sellers in reaching a solution. Spl.yt employs a dispute resolution protocol using Spl.yt Access Tokens (SATs) that will facilitate the dispute resolution process.
The process is designed to facilitate a fair and efficient resolutions using a poker-like staking mechanism. Let’s say a buyer claims never to have received a purchase. To make a dispute claim, the buyer deposits a set amount of SATs into escrow. This escrow process is designed to deter fraudulent dispute claims. If the seller confirms the buyer’s claim, the tokens are returned to the buyer, the payment for the the item is refunded and the dispute is resolved. However, if the buyer and seller disagree, the seller will then deposit tokens into escrow to make an opposing claim, triggering the dispute resolution protocol. This is where the Spl.yt community and self regulating aspect of the system come into play. Qualified anonymous arbiters who participate in the Spl.yt ecosystem are assigned to random cases in which they are presented evidence from both sides in order to resolve the dispute. When the resolution is reached, the smart contract will automatically dispense the escrowed tokens to the winner. The arbiter will also receive a small percentage of the escrowed tokens as a fee for their efforts. We see the combination of transparency via the blockchain, smart contract resolutions, and Spl.yt token mechanics as a way for the ecommerce to run in a smooth and fair manner that does not require parties to transact with blind trust.
Automated Affiliate Marketing Management
Working with affiliate marketers has proven an extremely effective way for merchants to grow their businesses. Currently, however, the process of compensating these valuable affiliate partners is convoluted and inefficient, costing vendors time and energy, and even leading to disputes with affiliates that can be costly and time-consuming to resolve. These important and lucrative relationships can be protected by rewarding these partners fairly, consistently and quickly with minimal processing and accounting. Spl.yt enables vendors to set the amount they pay to affiliate marketers across all e-commerce platforms when a listing is added. Payments are then distributed automatically through smart contracts, which are pre-agreed upon programs that smoothly and seamlessly facilitate transactions without the need for any intermediary service or invoicing systems.
E-commerce on the blockchain
At Spl.yt, our mission is to empower people with tools and awareness to achieve their goals while participating in a fair and secure e-commerce system. We do this by virtue of blockchain technology, which ensures accuracy and immutability of information and removes the need to rely on costly intermediary applications and services . Since all pertinent information is viewable by all parties on our decentralized blockchain, Spl.yt offers a level of transparency never before available on platforms for e-commerce.
We believe the biggest industry in the world should be owned and operated by people, not centralized corporations. Spl.yt will help buyers and sellers save time and money by removing middlemen functions and create better opportunities for e-commerce participants to achieve their dreams.
To learn more about Spl.yt and the decentralized future of e-commerce, visit Spl.yt Website:
https://www.spl.yt/
Spl.yt Lite Paper:
https://www.spl.yt/litepaper.pdf Spl.yt for Devs:
https://www.spl.yt/devs.html Live dApp:
http://demo.spl.yt/
Medium:
https://medium.com/@splytcore Twitter:
https://twitter.com/splytcore
Telegram:
https://t.me/splyt