Storeplex 🛒 - Ethereum's eBay

[jazzybitcoin]

If an entrepreneur is having the luxury of having an online market place, he is already having the advantage of not paying any rent on actual store and now that there is a crypto payment is has become more favourable for the business.

This is very true, sellers will be able to list on our platform without paying membership fees. And if the transaction is made using PLEX tokens, the seller will pay absolutely nothing to Storeplex; a truly free marketplace for sellers.

Right. There are hundreds of merchants and way more buyers around the world that do not find good means to spend their crypto other than paying large exchange fees while converting into fiat.

[123vjain]

How will be paymnet made to the seller on the marketplace? Will the buyer initiate payment in plex tokens when he buys and till the time the product reaches the buyer, the storeplex will keep custody of those tokens?

The buyer sends the payment to the smart-contract which has control over the funds. If the buyer marks the transaction as successful, the smart-contract automatically sends the funds to the seller. If a problem arises, Storeplex will intervene and distribute the funds appropriately.

Is storeplex planning to open a customer support centre for this? I mean handling daily basis disputes and other things?

Yes, this feature will be called the resolution centre. Buyers and sellers will be able to communicate before Storeplex intervenes. In the event of a Storeplex intervention, evidence proving/disproving the dispute will be requested from both parties involved. A support member will then arbitrate on the dispute and act according to a very strict set of guidelines which will be fair based on the circumstance at hand.

Will this marketplace include second hand goods as well?

[Madhvi13]

Why would buyers be interested in buying online? I guess low prices. Because shop owners dont have to pay rents and other utility costs. I guess since sellers would be able to save these costs, they can offer great deals and discounts. I hope storeplex has fair idea of this.

[vishesh2009]

Who will determine the prices of goods and services? Is it at the will of sellers?

[Storeplex]

How will be paymnet made to the seller on the marketplace? Will the buyer initiate payment in plex tokens when he buys and till the time the product reaches the buyer, the storeplex will keep custody of those tokens?

The buyer sends the payment to the smart-contract which has control over the funds. If the buyer marks the transaction as successful, the smart-contract automatically sends the funds to the seller. If a problem arises, Storeplex will intervene and distribute the funds appropriately.

Is storeplex planning to open a customer support centre for this? I mean handling daily basis disputes and other things?

Yes, this feature will be called the resolution centre. Buyers and sellers will be able to communicate before Storeplex intervenes. In the event of a Storeplex intervention, evidence proving/disproving the dispute will be requested from both parties involved. A support member will then arbitrate on the dispute and act according to a very strict set of guidelines which will be fair based on the circumstance at hand.

Will this marketplace include second hand goods as well?

Users are free to sell new, used, refurbished or spares and repairs goods.

[Storeplex]

Who will determine the prices of goods and services? Is it at the will of sellers?

Sellers are able to choose how much they want to sell their item(s) for.

[vishesh2009]

Who will determine the prices of goods and services? Is it at the will of sellers?

Sellers are able to choose how much they want to sell their item(s) for.

But this may be opposed by competitive exchange commission in some of the countries.

[Storeplex]

Who will determine the prices of goods and services? Is it at the will of sellers?

Sellers are able to choose how much they want to sell their item(s) for.

But this may be opposed by competitive exchange commission in some of the countries.

Could you explan your post more? How does this negatively affect the marketplace?

[vishesh2009]

Who will determine the prices of goods and services? Is it at the will of sellers?

Sellers are able to choose how much they want to sell their item(s) for.

But this may be opposed by competitive exchange commission in some of the countries.

Could you explan your post more? How does this negatively affect the marketplace?

It wont affect the marketplace negatively. I am saying there are some some rules and guidelines in each country laid down by their competition commission board on broad economics. Say there is a necessity good listed on marketplace for which seller is charging a very high price due to any reason. So, in order to protect the consumer from such instances, the governments may lay down the competition policies so that no seller experiences the monopoly position. So, it might happen that if everything is left at the will of buyer, this policy might be opposed by some governments. Just a wild thought!

[Storeplex]

Who will determine the prices of goods and services? Is it at the will of sellers?

Sellers are able to choose how much they want to sell their item(s) for.

But this may be opposed by competitive exchange commission in some of the countries.

Could you explan your post more? How does this negatively affect the marketplace?

It wont affect the marketplace negatively. I am saying there are some some rules and guidelines in each country laid down by their competition commission board on broad economics. Say there is a necessity good listed on marketplace for which seller is charging a very high price due to any reason. So, in order to protect the consumer from such instances, the governments may lay down the competition policies so that no seller experiences the monopoly position. So, it might happen that if everything is left at the will of buyer, this policy might be opposed by some governments. Just a wild thought!

There would be no ramifications for Storeplex personally, it would be the individual sellers that are colluding to unfairly raise prices. And with regards to monopolies, free-market behaviour will combat this. Our marketplace will be no different from eBay; users are free to sell at whatever price they want, and only the most competitively priced listings will be successful. As long as sellers are not artificially raising prices (which is illegal) then the marketplace will function like any other.

[vishesh2009]

Who will determine the prices of goods and services? Is it at the will of sellers?

Sellers are able to choose how much they want to sell their item(s) for.

But this may be opposed by competitive exchange commission in some of the countries.

Could you explan your post more? How does this negatively affect the marketplace?

It wont affect the marketplace negatively. I am saying there are some some rules and guidelines in each country laid down by their competition commission board on broad economics. Say there is a necessity good listed on marketplace for which seller is charging a very high price due to any reason. So, in order to protect the consumer from such instances, the governments may lay down the competition policies so that no seller experiences the monopoly position. So, it might happen that if everything is left at the will of buyer, this policy might be opposed by some governments. Just a wild thought!

There would be no ramifications for Storeplex personally, it would be the individual sellers that are colluding to unfairly raise prices. And with regards to monopolies, free-market behaviour will combat this. Our marketplace will be no different from eBay; users are free to sell at whatever price they want, and only the most competitively priced listings will be successful. As long as sellers are not artificially raising prices (which is illegal) then the marketplace will function like any other.

Right that is also correct.

[123vjain]

How will be paymnet made to the seller on the marketplace? Will the buyer initiate payment in plex tokens when he buys and till the time the product reaches the buyer, the storeplex will keep custody of those tokens?

The buyer sends the payment to the smart-contract which has control over the funds. If the buyer marks the transaction as successful, the smart-contract automatically sends the funds to the seller. If a problem arises, Storeplex will intervene and distribute the funds appropriately.

Is storeplex planning to open a customer support centre for this? I mean handling daily basis disputes and other things?

Yes, this feature will be called the resolution centre. Buyers and sellers will be able to communicate before Storeplex intervenes. In the event of a Storeplex intervention, evidence proving/disproving the dispute will be requested from both parties involved. A support member will then arbitrate on the dispute and act according to a very strict set of guidelines which will be fair based on the circumstance at hand.

This feature is good to know about. This becomes absolutely necessary when we trying to implement such a project. Guess you are on the right track

How will the buyers and sellers contact resolution centre? Is it a hotline number or via email or any other social media?

[salonilibra]

Would you still go ahead with the project if you do not reach the hardcap?

[vishesh2009]

Would you still go ahead with the project if you do not reach the hardcap?

I think you have confused softcap/ target with the hardcap. Hardcap is the maximum amount they can raise.

[Storeplex]

How will be paymnet made to the seller on the marketplace? Will the buyer initiate payment in plex tokens when he buys and till the time the product reaches the buyer, the storeplex will keep custody of those tokens?

The buyer sends the payment to the smart-contract which has control over the funds. If the buyer marks the transaction as successful, the smart-contract automatically sends the funds to the seller. If a problem arises, Storeplex will intervene and distribute the funds appropriately.

Is storeplex planning to open a customer support centre for this? I mean handling daily basis disputes and other things?

Yes, this feature will be called the resolution centre. Buyers and sellers will be able to communicate before Storeplex intervenes. In the event of a Storeplex intervention, evidence proving/disproving the dispute will be requested from both parties involved. A support member will then arbitrate on the dispute and act according to a very strict set of guidelines which will be fair based on the circumstance at hand.

This feature is good to know about. This becomes absolutely necessary when we trying to implement such a project. Guess you are on the right track

How will the buyers and sellers contact resolution centre? Is it a hotline number or via email or any other social media?

The resolution centre is integrated into the marketplace account page

[Storeplex]

Would you still go ahead with the project if you do not reach the hardcap?

I think you have confused softcap/ target with the hardcap. Hardcap is the maximum amount they can raise.

As vishesh said, the hard cap is the maximum amount we can raise. And our project does not have a soft cap as we have a minimum viable product, so the project will go ahead either way. But with more funding, we will be able to achieve bigger and better things.

[destress]

The community funding feature sounds really interesting, it reminds me of some other crowd-funding sites though I think this one would make more sense in this kind of context - seeing that people are helping to fund something in a community that they are already a part of.

[salonilibra]

Would you still go ahead with the project if you do not reach the hardcap?

I think you have confused softcap/ target with the hardcap. Hardcap is the maximum amount they can raise.

As vishesh said, the hard cap is the maximum amount we can raise. And our project does not have a soft cap as we have a minimum viable product, so the project will go ahead either way. But with more funding, we will be able to achieve bigger and better things.

Thanks for clearing that up. Yeah thats very true with more and more funding, you will be able to achieve greater and bigger things.

[Storeplex]

The community funding feature sounds really interesting, it reminds me of some other crowd-funding sites though I think this one would make more sense in this kind of context - seeing that people are helping to fund something in a community that they are already a part of.

The best thing about the community investment fund is that the community do not directly raise funds for the applicants; the sale of pre-allocated tokens is what raises capital. This also helps to maintain liquidity on exchanges as users who are successful in their application will sell their tokens to raise funds.

[kanika1102]

Would you still go ahead with the project if you do not reach the hardcap?

I think you have confused softcap/ target with the hardcap. Hardcap is the maximum amount they can raise.

As vishesh said, the hard cap is the maximum amount we can raise. And our project does not have a soft cap as we have a minimum viable product, so the project will go ahead either way. But with more funding, we will be able to achieve bigger and better things.

Thanks for clearing that up. Yeah thats very true with more and more funding, you will be able to achieve greater and bigger things.

Have you put any individual cap?