What's MERXUM?MERXUM is a platform where tangible products can be tokenized and traded. Tokenization of a physical product is a process of converting rights to a product into a digital token on a blockchain. A physical product is placed in a designated escrow warehouse, then a digital token is issued and pegged to the product. An issued token acts as a digital certificate of ownership of the actual product.
Merxum issued Proof-of-Ownership (PoO) tokens can be sold, exchanged or held as an investment in a digital wallet. A token transfer is considered as an ownership transfer. A token holder is the actual owner of the pegged physical asset. PoO Token holder at any time can exchange it to the pegged physical product by “burning” the token, a procedure where a PoO token is destroyed and the product is released to the token holder.
Tokenization Process1. Products shipped to the closest participating third party warehouse in the Merxum Network
2. Products inspected, verified and data file created
3. Tokens are issued and transferred to the product owner
PoO TokenPoO tokens have extended data and can be stored in any Ethereum based wallets. Tokens can be traded peer-to-peer, on Merxum platform or third party cryptoexchanges.
MERX TokenMERX token is the “currency” of Merxum platform to pay storage, verification, transfer, deposit & other fees.
Third Party Warehouse In Merxum Network participate third party warehouses who verify, store and dispatch products on request. Warehouses are compensated to verify and store products by the network. Participating warehouses are responsible for the product safety, fulfillment and provide guarantee deposit to the Merxum Network equal to the stored inventory value.
Why?A manufactured product at the current employed trading model on its way from the manufacturer to the end user changes 4-5 owners. On average, when a product leaves the factory, it travels from 8 to 10 locations before it reaches to its final destination - the end user. The goods movement in supply chain increases the cost of goods by 20-40% because of logistics and transportation costs.
Tokenization of a physical product and its trading is a revolution in e-commerce and supply chain. Instead of transferring physical products through the supply chain, traders transfer the ownership of products in a form of digital tokens.
SpeedTransaction speed brought down from Months/Weeks/Days to Seconds
CostMinimized physical product movement allows traders to save on unnecessary warehousing, transportation, labor and other costs associated with the physical product handling.
Minimized Global Greenhouse Gas EmissionHuman activity generates annual greenhouse gas emissions of around 50,000 mega-tonnes CO2e where 2,800 mega-tonnes or 5.5% of the total are contributed by the logistics and transport sector. Tokenization of tangible products reduce physical stock movement on average 2-3 times cutting greenhouse gas emission coming from transportation and logistics sector by 50% or more.
Reincarnation of Barter Trade Exchange of tokenized physical goods makes the barter system as effective as money system. The large scale adoption of tokenized tangible products and its trade will reduce the need of monetary system. In a world where products and services can be exchanged within seconds on the blockchain, the use of money as a medium for trade will be significantly minimized.
How Does it work?Example 1: Adam sends a stock of 100 pens to the escrow warehouse. 100 PoO "Pen Tokens" are issued and transferred to Adam. 1 token = 1 pen.
Adam decides to sell 30 Pen Tokens to Greg for $5.
Greg trades his 30 "Pen Tokens" what he bought from Adam for a Pepperoni pizza with Mike who owns a pizza shop.
Mike decides to exchange his 30 "Pen Tokens" what he received from Greg to the pegged physical pens, because he needs them at his shop and "burns" 30 tokens.
The escrow warehouse ships 30 pens to Mike. The total supply of "Pen Tokens" on the blockchain decrease from 100 to 70 tokens and stock in escrow warehouse decrease to 70 pens.
Example 2:E-retailer Joe from New York selling pens online, his customer Mark from London orders from him 10 Pens. Joe owns "Pen Tokens" with pegged physical stock distributed across two continents. To minimize the shipping cost and provide fast delivery for his customer, Joe "burns" 10 tokens and orders the escrow warehouse in London to dispatch 10 pens to Mark.
Merxum's Official ChannelsWebsite:https://merxum.comFacebook:https://www.facebook.com/merxumTwitter:https://twitter.com/themerxumMedium:https://medium.com/@merxumReddit:https://www.reddit.com/user/merxumTelegram:http://t.me/merxumBitcointalk:https://bitcointalk.org/index.php?action=profile;threads;u=1928720;sa=showPosts
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