Topic: Genesis Community Q&A Session 5 (Read 44 times)

1. What is Decentralized Commerce (DeCom)?
Genesis is committed to building a decentralized form of business (DeCom) ecology, which is characterized by the combination of common prosperity business, efficiency business and trustworthy business.

2. Common Prosperity Commerce
Creating a common prosperity Commerce is determined by the consensus mechanism of Genesis. Genesis is the first real consumption contribution public blockchain in the world. It uses the original Delegated Proof of Consumption Contribution (DPoC), rather than Proof of Work (PoW) or Proof of Stake (PoS), to build consensus mechanism and offer economic incentives. It converts business profits, not electricity power costs, into token values to reward all business eco-contributors.
Genesis can be regarded as an immense “decentralized commerce platform for common prosperity”, where each business entity can join as a subsidiary of the platform, and the blockchain will act as a selfless boss to reward all business ecosystem contributors by issuing platform shares (tokens), and distributing all profits to these shareholders.
Genesis also creates a symbiotic finance of “business derives from finance and finance feeds back business”, which brings a major financial innovation to the social economy.

3.Efficient Commerce
Creating efficient commerce is determined by the smart contracts of Genesis.
Genesis is compatible with Ethereum virtual machine, which is convenient for developers to create various smart contracts, including DeFi and NFTs. By creating NFTs, real assets could be transfered on chain as digital assets, which will have cross-platform flowability and peer-to-peer transactions attributes, thus forming a mesh business and free from the bondage of centralized platform; while by creating DeFi and using blockchain as a credit intermediary, an efficient, fast and trustworthy NFT transaction platform and smart business can be built. The mesh business shaped by Genesis is much more efficient than the intermediary-based star business, and it avoids the exploitation and oppression of capital and greatly reduces the transaction cost.

4.Trusted Commerce
Creating trusted commerce is determined by the infinite scalability of Genesis. Genesis will build trusted commerce and further reduce transaction costs by introducing blockchain traceability, depository and distributed storage protocols to launch on chain, trace and authenticate the information, business and logistics.

5.What are the application scenarios of Genesis?
Genesis will be given full play in e-commerce industry, NFTs, metaverse empowerment, decentralized finance (DeFi), product traceability, supply chain finance, logistics system, IoT ecology, asset on-chain, electronic data processing (TPS), and consumer entertainment, digital asset trading, etc. Basic functions such as payment, consumption, digital currency, product anti-counterfeiting and commodity verification are optimized.
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