Storiqa project founded in 2017 revealed its idea of a to setup a marketplace at a lower financial borders and global transactional fee. The idea was formulated as a result of Cryptocurrency liquidity. The formulators of the project argue that Bitcoins and Litecoins have widely been used as payment mediums, there are still opportunities to buy and sell this Crptocurrencies.
According to a Global E-commerce Report marketing study online shoppers annually increase by around 16%, with the actual number being approximately 1.7 billion people worldwide. The report also shows that the majority of customers who use online shopping platforms are located in Britain, USA, Japan and China.
The Storiqa project is targeting customers who are aiming to buy goods and services using Cryptocurrencies. Storiqa believes that shoppers with Cryptocurrencies is an existing and untapped market for the e-commerce industry.
The projects expects small businesses to be able to populate the platform from the inside since the new marketplace permits small and medium sized entrepreneurs to begin online selling on global markets in just an hour. The platform is also expected to meet the needs of small scale producers who have already established themselves in the local markets and are aiming to increase their sales to the international market.
From Storiqa’s white paper, its platform also plans to monetize the bloggers and traffic owner’s blogs using their video links to be able to get paid in the event that their links result to a sale upon being viewed. Storiqa also announced its plan to getting listed on different exchanges. It has also promised to reveal its products MVP that covers the full package features before entry of Q4 with the STQ wallet to be presented by the end of March.
The STQ wallet permits payments to be made in STQ tokens, which comes along with other benefits such as receiving higher cash back. The team also believes that the Blockchain will help build smart reviews i.e. shoppers will be able to leave product feedbacks upon receiving the ordered products.