Web3 E-Commerce and Businesses
Web2 is characterized by centralized data ownership and control by a few dominant corporations known as "Big Tech." In contrast, Web3 uses blockchain technology to create a decentralized web architecture that enhances user experiences. By eliminating intermediaries like "Big Tech," Web3 allows users to own and control their internet presence. This decentralized nature of web3 makes it an attractive option since it removes the need for trust in transactions while ensuring the security and reliability of payments. Web3 also offers better privacy protection than Web2, as it is not dominated by big tech companies that collect sensitive data. Web3 is characterized by several features, including the abundance of free and open-source information, unique and authentic transaction information, user ownership of data, the replacement of the central monetary system with DeFi and cryptocurrencies, and anonymous transactions and ownership transfers.
Web3 E-Commerce Opportunities for Businesses
The e-commerce industry is already being influenced by Web3 and its associated technologies like NFTs and cryptocurrencies, with this trend expected to continue in the future. Businesses of all sizes and scopes are rapidly innovating and expanding the use cases of blockchain technology. Here are some real-world examples:
Decentralized finance (DeFi) wallets enable customers to use cryptocurrencies to make payments on e-commerce platforms.
Web3 will enable the creation of decentralized marketplaces where users can have complete control over what they want to get produced.
Blockchain-based trustless e-commerce will allow consumers to buy products from online shops using decentralized apps or dApps, which are enabled by self-executing codes called smart contracts, leading to reduced fraud, chargebacks, and returns.
NFTs are used to monetize e-commerce loyalty programs by allowing companies to issue NFT-based tokens that have a predetermined value and can be redeemed for products, discounts, or bonuses.
The metaverse, which is a world of virtual spaces in 3D, created by a mix of technologies such as AR/VR, blockchain, and cryptocurrency, provides e-commerce brands with the opportunity to create unique customer experiences.
NFTs can be used to build and monetize communities by turning participation at events into NFT assets that provide access to online communities.
Some Benefits of Blockchain Tech in Web3 E-Commerce
More transparency: Each transaction's record is retained by every node, which enhances transparency.
Enhanced security: Transactions are encrypted and linked with the previous transaction, making it difficult for hackers to compromise data.
Lower cost: Businesses no longer have to pay intermediaries or third-party vendors to verify trading partners.
Improved traceability: All parties can track products to prevent complications such as theft, counterfeiting, and loss.
Speed and efficiency: Transactions are faster, automated, and stored in a single digital ledger that can be shared between all parties, reducing the need for intermediaries and decreasing the likelihood of human error.
Takyar, A. “How Will Web3 E-Commerce Impact the Business Landscape?” LeewayHertz. https://www.leewayhertz.com/web3-and-e-commerce/ Accessed on April 19, 2023.
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💭 Food For Thought
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- Mary Kay Ash
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SafeMoon Cross-Chain Supply
The SafeMoon Education Team prepared an article to help in understanding the SafeMoon cross-chain supply.
"We recently introduced two new pairings - one on Ethereum (ETH) and the other on Polygon (MATIC). To address the potential confusion within the community regarding the token supply, we want to explain the rationale behind these pairings and how they affect SafeMoon's overall supply..." Click to read more.
SafeMoon Special - Hello Again
SafeMoon Pulse Monthly Recap
Each month, the SafeMoon Pulse offers a comprehensive SafeMoon overview of the previous month, including any updates or changes you might have missed. Let's recap the month of February! The video is below, or if you prefer reading, you can access the Pulse article here.
SafeMoon Wallet: How to Sell Crypto Guide
SafeMoon Orbital Shield
SafeMoon released a technical explanation of their patent-pending security product, SafeMoon Orbital Shield.
Need a slightly more simplified explanation?
What is PoA, and what are its advantages?
Learn more by clicking the image below.
Recent Captain's Logs
SafeMoon CEO John Karony talks about SafeMoon's Centralized Exchange
(CEX) progress in the Captain's Log video below.
CEO John Karony gave a quick update on the SafeMoon blockchain explaining a bit about the chosen consensus mechanism and release expectations.
Token Monetization Innovation (TMI)
SafeMoon has released a new patent pending feature designed to improve the user experience on its DEX (Decentralized Exchange - SafeMoon SWaP), labeling the feature TMI (Token Monetization Innovation).
TMI aims to improve transparency and transaction predictability by charging the exchange fees upfront in the native token and using smart contracts to ensure transparency in token liquidity pairings. It also aims to expand the availability of web3 and enable additional community partnerships with meaningful projects.
TMI SafeMoon Newsletter Captain's Log.
Attention pSafeMoon holders ONLY.
The pSFM Migration Campaign is now LIVE!
Only use the official dApp link on the SafeMoon Website.⚠️
Have the tokens you want to use for migration in your wallet.
Don't transfer after the cutoff date/time
Have a small amount of ETH for gas fees
Tokens acquired in wallets after the cutoff date/time won't be eligible
The pSafeMoon process will remain live for a minimum of six months.
The pSafeMoon Guide now includes an updates section so you can be aware of any issues relating to pSafeMoon. In addition, you'll find some FAQs to keep you all up to date.
SafeMoon announced that with the recent SafeMoon SWaP updates came a new patent pending feature that solves the existing Defi inconsistent fee paradigm for tokens on multiple Decentralized Exchanges.
Press Release: [Businesswire]
They partnered with "Blockchain and AI expert Dr. Adel Elmessiry to help solve the inconsistency. Labeling the invention "Tokenomic Supervisor," they explain that it operates in 2 steps:
To learn more, view the full article here.
Security Questions (Best Practice)
🎓You might have seen that SafeMoon Orbital Shield requires users to answer 2 security questions.
⚠️We highly encourage reading our Best Practice article to learn about a safer method for answering these security questions!
Slippage and Gas Articles
You may have heard of slippage and gas related to the transactions you make when trading your digital assets on the blockchain, but do you know what they are, where they come into play during a transaction, or even why they exist?
SafeMoon Education Manager Cats published two new educational articles for those interested in understanding more.
⬇️Click on the image of the subject you'd like to learn about first.⬇️
↙ Learn about Slippage (Left) and Gas (Right) ↘
Understanding SafeMoon Transactions Article
🎓Want to understand more about what happens when a SafeMoon SWaP transaction takes place? Here's an article that can help you understand the process a bit further.
SafeMoon Career Opportunities
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