How Blockchain is Empowering Social Ecommerce

How Blockchain is Empowering Social Ecommerce

Dec 2, 2021, 11:04:03 AM Business

Social commerce is not a new term, but it has been in use since the very old days. People have always loved to shop together and they usually find it easy to trust a product/service that their friends have already used and loved. On the other hand, social media has become extremely helpful and a great traffic source for businesses looking to get more customers for their products/services.

In modern times, social commerce mostly refers to the use of social media to inspire or boost online shopping and is also commonly called social e-commerce. It is a mutually beneficial system, where customers get to buy quality products/services tested and verified by their peers (friends, colleagues, family, etc.), while merchants and e-commerce operators get access to a large pool of customers available on leading social media platforms.

Right now, social e-commerce is mostly limited to specific social networking platforms, including Facebook and Instagram, and not many online marketplaces are properly or effectively utilising the power of social media. Moreover, the traditional e-commerce marketplaces have many limitations, such as centralized control, dynamic pricing by sellers, lack of social integration, reward coins with no real value, among others.

How blockchain can help disrupt social e-commerce

Blockchain is a digital, decentralized, distributed ledger that is used to store valuable data or information on an encrypted and highly secure public network spread across thousands, if not millions, of nodes (computers) distributed all over the world.

Blockchain provides a way to store and transfer data in a decentralized manner that is independent of centralized entities and middlemen. In the e-commerce space, blockchain can be used to bring more transparency to online transactions and to ensure fast & cost-effective cross-border payments.

Excelli is one of the best examples of how the inclusion of blockchain can help take social e-comemrce to the next level.

Excelli is a first-of-its-kind social e-commerce platform that combines online shopping with social media. The Excelli Super app integrates a dedicated e-commerce platform allowing users to shop conveniently for their favourite products and from sellers all over the world. In addition, the app integers a social component with advanced features like content creation, chatting, referral, rewards & more.

Excelli is a blockchain-based platform. The inclusion of blockchain technology enables Excelli to provide high-end security for users and their data on the platform. In addition, it allows merchants and customers to trade directly with each other without the need for middlemen. Blockchain smart contracts help make processes like transactions automated and based on code, reducing the cost and increasing the efficiency of online transactions.

In a blockchain-powered platform like Excelli, all activities are fueled by a single coin. For example, Excelli has the XLE coin, which powers all transactions, including rewards, within the platform. It is a blockchain-based crypto coin that helps ensure all transactions are transparent, secure and smooth. Moreover, it automatically rewards users with free coins for every transaction.

Here’s how Excelli’s blockchain-based social e-commerce platform works:

Excelli allows users on its platform to shop together as a group event with social and monetary benefits, i.e. customers on Excelli get rewarded when they shop together (as a group) with their family & friends. Here’s how it works.

Suppose that you find a product on the Excelli app that you think might be useful for other people you know, so you can form a group and invite these people to join it. Then, instead of buying the product by yourself, you buy it as a group at a much lower than the listed price. The more people in a group, the lower would be the product price. In addition, all users get reward coins for every purchase transaction on Excelli. Reward coins can be used to buy more products and other services within the Excelli ecosystem.

By using blockchain, Excelli ensures seamless & secure e-commerce transactions free of intermediaries and in a way that is transparent and cost-effective. Moreover, the blockchain-powered XLE coin helps maintain a consistent flow of transactions by rewarding users for all their activities and giving them more reasons to shop, which in turn will help boost the platform demand and the coin value in the market.

The Excelli coin and the Excelli Super app are two of the primary products of the Excelli ecosystem, both of which are based on blockchain technology (Solana blockchain).

The Excelli coin - Blockchain-based crypto coin for seamless rewarding shoppers

Excelli Coin (XLE) is an SPL token based on the Solana blockchain. It’s a utility coin created as the native coin for the Excelli e-commerce platform. Excelli coin powers everything including rewards and other transactions within the Excelli platform. It helps ensure customers are fairly rewarded for their shopping activities. Thanks to the blockchain (smart contract), all rewards are automated and reward tokens will automatically be credited into the buyer’s wallet for every successful buy transaction.

Excelli reward coins have a monetary value, i.e. they can be used to buy real physical items on the Excelli app, and this includes not just product shopping but also a wide range of services offered by Excelli. Excelli coin is a trading-enabled cryptocurrency and will soon be listed on crypto exchanges for trading.

XLE has been touted by the founding company as the world’s first progressive crypto-token, i.e. the token whose price increases in a systematic way. This happens because the value of the Excelli coin is backed by the Excelli platform and super app. As more users perform buy transactions on the Excelli app, the demand and value of the coin will also increase.

The Excelli Super App - an all-inclusive social e-commerce finance app

The Excelli Super app is another innovative product of Excelli. It’s a blockchain-based mobile app that grants access to a range of daily-use services in the space of finance, shopping, entertainment, travel, healthcare, and others.

The Excelli super app enables users to access and use a variety of services from a single interface in a highly secure mobile app created with a focus on user convenience. They can socialize, chat, shop online, make payments, send/receive money, order groceries online, order food, book a hotel or an air ticket, book cabs, book movie tickets, play games, order medicine online, and freelance without having to download or use another app.

Each and every feature of the Excelli Super app is fuelled by Excelli coins, which are used as reward tokens to incentivize users for their activities on the platform.

Excelli is one of the many e-commerce projects that are successfully using blockchain technology to provide a secure and seamless online shopping experience to their users. In the social e-commerce space, however, Excelli is one of the first projects to offer blockchain/crypto services.

Published by Rajeev Parashar

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