CHIMPION: CREATING A TRUSTLESS ENVIRONMENT AND SANITIZING THE E-COMMERCE PAYMENT SYSTEM WITH CRYPTOCURRENCY

aaarezy (41)in #trading • 6 years ago

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The issue of fraud over the internet has posed a major challenge and a major albatross to internet technology. Financial transactions over the internet technology seem to be the most targeted activity of internet fraudsters, e-commerce transactions remain one of the most vulnerable and easily penetrable internet financial dealings where the activities of fraudsters hold sway. Not minding the fact that traditional e-commerce activities and institutions have recorded major gains and profits over the recent past years, the activities of these fraudsters seem to be cancelling out these gains it (e-commerce) garnered over the years. It is very rare and difficult for an e-commerce merchant or a buyer to initiate a trustless transaction over any of the current traditional e-commerce channels. Most e-commerce merchants or service providers would painstakingly and prudently verify or validate the identity and purchase details of any of its customer even after payment is made before delivering the products or goods to the customer. This rigorous customer identity verifications by e-commerce merchants are aimed at preventing some mischievous buyers to claim for refund of their money on the pretext that they didn’t take delivery of their paid products, but on the contrary, they actually got their delivery, what a world!!
On the other hand, customers willing to patronize traditional e-commerce services would also scrutinize any available e-commerce platform in order to make sure that they are not tricked to hand in their hard earned cash to scammers and fraudsters in exchange for nonexistent goods or services, this could lead to heartbreak!

THE NEED FOR CHIMPION

Transparency, accountability and trustless transaction are very necessary to drive the progress and maintain the gains of the e-commerce trading system. Chimpion blockchain technology is simply the answer and solution to the lack of transparency and absence of a trustless environment in the present e-commerce ecosystem. With Chimpion cryptocurrency/blockchain technology, e-commerce transactions are executed in a trustless and transparent manner, this is so because in using the blockchain technology, no party involved in the process of the transaction can singlehandedly manipulate or hijack the whole transaction process; every interested party involved holds a copy of the transaction details at any point in time. Payment made using the cryptocurrency technology is peer-to-peer, hence in using the Chimpion cryptocurrency as a means of payment in executing e-commerce orders will help e-commerce merchants to bypass their worries on their customers' true identity and intentions because both the e-commerce merchant and the buyer who's making a purchase with the crypto maintains a copy or record of the transaction at any point in time since it is executed over the blockchain technology. Therefore the delays associated with fiat based e-commerce platforms as a result of identity clearance becomes a thing of the past with Chimpion blockchain/crypto technology; equally the issue of fraud either on the side of the e-commerce merchant or the buyer is now factored out while using Chimpion cryptocurrency in executing e-commerce trade, that’s what the trustless virtue of the blockchain technology can offer.

CHIMP And BNANA: Chimpion ecosystem runs a dual token based economy which helps to maintain and keep alive the activities of the Chimpion blockchain. The CHIMP token is a utility token meant to reward e-commerce merchants who adopt Chimpion cryptocurrency in their e-commerce activities and platforms while BNANA token is a reward earned by buyers who buy goods and services of the e-commerce merchants either with CHIMP or any other cryptocurrency, in addition to this, these earned BNANA crypto assets could serve as a gateway to earn discounts and promotional offers.

BNANA Token Distribution Details
BNANA has a total supply of 100billion, of which more than 50% of its total supply would be distributed through bounties that promotes the mission of the Chimpion blockchain based solution.