Kartblock is the provider of underlying blockchain technology to 27avenue.com An eCommerce marketplace operating since 2013 in India and Singapore. 27Avenue has exponentially grown from a single category online store to a multi category online marketplace with a seller base of 3000 merchants and over 100 thousand SKU’s. The Business at it’s peak has done a GMV of 1 million USD and global presence with customer base in US, Canada, UK, Europe, Hong Kong, Singapore and Australia. 27Avenue has been a seller of unique line of products exclusively and with a large supplier base in China has added to the advantage. With global operations and cross border payments; a need is arises to create a robust backend solution that can give a wider spectrum of operational excellence. Therefore the solution is a blockchain implementation to create a decentralized eCommerce marketplace, Faster transactions secured by the smart contract and tokenized payments. KartBlock will conduct an ICO to grow 27Avenue at its peak and create a large player in the industry competing with the monopolized and centralized existing eCommerce platforms
Kartblock Everything Better.
E-commerce is the need of today in this global economy.The Kart Block ecosystem is the turning point to the conventional marketing and sales industry where the primary focus was limited to product promotion and ad-revenues.
Kartblock connects people all around the world, trade goods without intermediaries, send and receive funds effortlessly. Kartblock marketplace will allow vendors to sell direct to customers with cryptocurrency.
Through the use of the block chain users retain their data, blockchain technology gives power back to the users. The result is consumer empowerment and unparalleled sales potential for retailers and advertisers
Being pioneers in the eCommerce industry and operating a successful online marketplace in one of the largest eCommerce markets in the world, we have created a more robust and a global borderless platform that accepts tokenized payment solution. A natural progression to enable technology for the betterment of the industry and creating standards of advancements. Collectively the team is focussed to bring a revolutionary product engineered by the people from the industry
Revolutionize the eCommerce industry with Blockchain technology and empower the buyers and sellers with unrestricted transparency
Decentralized/Blockchain Ecosystem is the technology layer of Kart Block ecosystem. This layer will be powered by the Ethereum blockchain network and native tokens will be standard ERC20 tokens. This layer will handle and record the payments, transactions, smart contracts, data verification, etc. through Hyperledger.
eCommerce is a massively capital-intensive game. Problems of trust and transparency are almost always persistent, even when the best intentions are there, these problems can be eliminated by the Kart Block ecosystem. Through a decentralized architecture, every information is made transparent to all parties and insights are intimated so that the users can make the most informed decision possible.
The Kart Block ecosystem at its core is a combination of e-commerce platform, digital wallet, and Tokenized reward mechanism. A simple yet powerful idea behind this ecosystem is directly rewarding the customers/users for their valuable contribution to the Kart Block platform, without the need for any middlemen.
How It Works
DApp is an abbreviated term for Decentralized Application. A decentralized application has its backend code running on a decentralized peer-to- peer network. This gives DApps substantial advantage over the applications where backend code runs on centralized servers. The decentralized applications have front-end code similar to any other application where the interface is written in any language that calls to its backend. Also, these frontends can also be hosted on decentralized storage such as Swarm or IPFS.
Kart Block aims to bring radical transparency in the e-commerce economy. The underlying blockchain technology guarantees visibility of the activities, transactions, and any data flow through the system. Unlike largely centralized marketplaces which do not share crucial data (for maintaining a marketing edge). Even merchants have to pay a hefty amount for the online user- generated data for their analysis. Kart Block will change this monopolistic system. Here, the transactions will be visible, and the merchants would be able to run analytics without any obstacles.
Blockchain technology has already begun to change the face of the internet and our online interaction. The current global e-commerce industry has allowed exponential growth of the business and provided numerous opportunities to the users worldwide. But certain challenges need to be addressed as the online economy is becoming saturated and the real drivers of the economy (Merchants and customers) are deprived of the fair value for their contributions.
Kart block ecosystem can be divided into two part
Centralized Ecosystem: The centralized layer of Kart Block ecosystem will govern its Android & iOS app, and its website. This layer will run over the base layer, i.e., blockchain layer. For proper functioning, maintenance, and updating of these interface systems, they are kept under the company’s control, and open-ended development will be allowed in the future.
Decentralized/Blockchain Ecosystem: This will be core-soul technology layer of Kart Block ecosystem. This layer will be powered by the Ethereum blockchain network and native tokens will be standard ERC20 tokens. This layer will handle and record the payments, transactions, smart contracts, data verification, etc. through Hyperledger.
ERC20 type tokens are deemed as Blockchain assets that possess value, and can be used for trade, transactions and investment like any other digital currency.
Therefore, with the Kart Block token, the user can hold it, trade other currencies and assets with it or use it for transactions to purchase any other entity via the Kart Block platform.
Usage Of Funds
Founder & CEO
Co-Founder & CBO
Mohammad Al Fardan
Head of eCommerce Strategy
Sadoun Saeed Alowemri
Digital Media Expert - MENA
Content & PR
Head of Sales - MENA
UI / UX Designer
Abdul Rahman Al Ajmi
Director Business Development
ICO Marketing Expert
Legal & Compliance Expert
Drs. Hans Koning