Gemstra: Proof of Concept for Decentralized social selling

Gemstra: Proof of Concept for Decentralized social selling

Social selling, a process of developing relationships as part of the sales process, is changing the face of business. Today this often takes place via social networks such as Linkedln, Twitter, Facebook, and Pinterest, but can take place either online or offline. Examples of social selling techniques include sharing relevant content, interacting directly with potential buyers and customers, personal branding, and social listening. Social selling is gaining popularity in a variety of industries; though it is used primarily for B2B (business-to-business) selling or highly considered consumer purchases (e.g. financial advisory services, automotive, reality). C2C companies (often referred to as direct selling companies) have been using social selling companies (that is relationship building) since far before the Internet existed. B2B and B2C companies are now adopting many of those techniques as they are translated to social media platforms.

Problems in the Industry

The social selling industry is dominated by “whales” – big corporations. They literally hold their sellers captive by making it extremely difficult if not an impossibility, to share customer data, transaction data and network data. The risk here is the place of losing income by sellers if and when they seek to move.
Another issue that is a hindrance to entry are the high cost and disjointed systems that are needed to manage commissions, rewards, accounting, customer service, back office operations, and commerce. These have the tendency of restricting the number of new merchants which in turn reduce the choices or options available to sellers. The problem here is that this kind of scenario allows existing monoliths to continue controlling the fast growing industry.

The Gemstra Solution / proof of concept for Decentralized social selling

Gemstra is a blockchain-integrated ecosystem for the social selling economy. There is the Gemstra BOUTIQUES – a proof-of-concept which is their primary marketplace that links brands and sellers in social selling. The idea created a quick success story as it attracted three thousand sellers and more than seven brands generating reasonable sums in 7-figure proving that retail brands want to participate in social selling and sellers’ desire for freedom.
The success story recorded led to the building of ASTRA – which is a blockchain platform to serve as technology infrastructure for retail merchants to be part of the social selling economy. ASTRA, by leveraging on the blockchain technology will empower sellers to keep customer and network data they labored intensely to generate.

Tokenization of Astra with the Gemstra Token

Gemstra is the answer to commission payment to sellers and can be used to buy products at any merchant. Also, it is able to power gamification system that can be used to customize brands amd merchants for sellers. This is a kind of reward in social selling. Interestingly also is the fact that Gemstra creates a system of governance with ASTRA so that its players have decentralized control over changes in the environment – the ecosystem.

How is it important to stakeholders?

To the sellers it is of tremendous value as they have the freedom to choose what want to sell and who they want to sell with. For merchants they can easily take part in ASTRA by using BOUTIQUE open source software and brands’s catalog is made portable on the blockchain.

Useful Links:              Website | Whitepaper | ANN Thread

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ETH Address:                               0x1461C3727dC461EfF7B32751dFf56c51c2218d5E

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