Once connected to Spl.yt, buyers can view the global inventory of individual listings automatically populated from all e-commerce websites integrated with the protocol. Shoppers only need to visit one e-commerce site to search for and purchase their desired item securely, and at the lowest price. Since all information from these various online retailers is integrated, once a buyer purchases an item, it will automatically de-list from every other marketplace, avoiding double-purchasing the same item.
Reputation
Today, a vendor’s reputation is probably the most important selling point to any shopper. 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.
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/splytcoreTelegram:
https://t.me/splyt