A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Serve, whose mission is to provide an intuitive, transparent, decentralized, and open-source platform to increase efficiency and reduce costs for all parties in an open-source global economy has arrived.
"The main advantage of blockchain is its transparency and ability to optimize ecosystems of digital information. Understanding the opportunities of blockchain, many startup companies are beginning to use this promising technology even in areas that have nothing to do with cryptocurrencies and finance. First of all, blockchain offers numerous solutions for those who want to improve security and make operations with digital data more transparent.
The logistics industry involves many parties: manufacturers, customers, suppliers, auditors, etc. The blockchain technology offers benefits for everyone in this chain. It allows customers to track the product and trace the whole chain of product manufacturing. Auditors can easily verify and check any transactions. Information stored in blockchain is unalterable, it cannot be changed by any third party, which makes this technology more secure than any existing solution."
With that being said, the effect of this revolutionary platform called Serve will be to create new global, e-commerce and logistics solutions by obviating the significant problems caused by having too many hands, too many platforms, and too little transparency.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is SERVE?
As depicted above, the Serve team is building a next-generation logistics platform based on blockchain technology to revolutionize, amongst other industries with the mission to provide an intuitive, transparent, decentralized, and open-source platform to increase efficiency and reduce costs for all parties in an open-source global economy.
The effect of this revolutionary platform will be to create new global, e-commerce and logistics solutions by obviating the significant problems caused by having too many hands, too many platforms, and too little transparency. We believe that the Serve platform can empower Users (i.e., patrons), Enterprises (i.e., businesses), and Providers (i.e., delivery drivers) with a platform that is secure, transparent, decentralized, and beneficial for all users.
Serve will assist the small vendors who are registered on the Serve platform and not excluding the autonomous service providers by permitting them to deliver their services through Serve own software platform. Serve will also assist in reducing costs for logistics companies, which will thereby permit consumers to access every product and services with lesser fees, greater value, and supplementary convenient services void of third-parties who are not cost effective.
One of the major aims of Serve is to see to the problems that are affecting the present shared economy like the service fees that is over 40%, restricted service zones, low accountability, and many more. The Serve platform will be using a sequence of smart contracts to make available mechanisms for trustless transactions and effective dispute resolution. The Serve platform has fashioned out a major set of escrow contracts that will hold transactions and the Serve token “SRV” pending when transactions are complete and successful between both parties to ensure a transparent trust. The Serve smart contract processes every deposit, recurring services (such companies that needs a regular supply of products) and payments to ensure a trustless transaction on the Serve platform.
Here goes the mission again; Stay tuned!
Serve’s mission is to provide an intuitive, transparent, decentralized, and open-source platform to increase efficiency and reduce costs for all parties in an open-source global economy.
The Impending Problems
(Challenges as indicated on the official website of Serve)
High platform fees up to 40%
Very difficult for small vendors to compete against large players
High cost barriers to entry
No clear reputation and accountability systems
Lack of quality control
Limited service areas
In the Gig economy, third-party platforms pose as intermediaries and incurs excessive fees of about 5 to 20% just to link freelancers to employers.
In the Gig economy, there is every tendency of loss of funds to the third-party platform by freelancers due to a violation of rules or in a case where there is a foldup.
End users are faced with increased platform fees.
End users end up purchasing a product twice or thrice its net price.
In a case of pizza, the net fee for delivery is twice the amount of the pizza price.
Competitions between the small-scale businesses and the big players.
Lack of trust and security in the centralized platforms.
Increase rate of fraud in the centralized platform
The centralized platforms always use the services of third-parties that makes end users and companies face a lot of challenges.
Tracking goods and services is not possible with the centralized platform
The increase in demand for goods and services has led to inaccurate deliveries, untimely performance, and other issues that outcome is frustration and wasted value.
The driver and various logistics providers are poorly paid and undervalued.
The third-parties fees every so often adds up to between 30 percent and 40 percent to the price of the delivered product or service.
Untrustworthily logistics providers cause harm to the benevolence of businesses thereby causing customers to be angry.
This restriction of delivery to some geological zone.
(Solutions as indicated on the official website of Serve)
Transaction Fees will be as low as 0.00%
Up to 100% of the services will go to the service providers
Up to 100% of the listing price will go to the businesses
Serve provides Enterprise technology to every level in the chain
Add Decentralization, Transparency, Reputation and Accountability to the market
The Serve series of Smart contracts save the freelancers in Gig economy of all the challenges they face.
The Serve blockchain technology will solve the present challenges faced in the Gig economy.
The integration of distributed ledgers into the company’s payment structure reduces companies’ yearly chargebacks.
The elimination of excessive fees through the series of Serve Smart Contract thereby facilitating transactions.
All users of the Serve’s platform are entitled to 2.5% fees as compared to the present approximately 40% fees.
Elimination of extensive investment costs and fees.
Elimination of frauds with help of the Serve blockchain technology.
Elimination of third-parties with help of the Serve blockchain technology.
Bringing Trust and security to products and services
Incentivization of drivers and other logistics providers.
Serve profits consumers by letting them negotiate shipping charges thereby facilitating end users to have control over how much they agreed to pay for a service provider for their delivery.
Complete removal of third-parties.
Serve permits end users to have access to various services. Starting from the on-demand consignment services for online acquisitions and package deliveries to ride-sharing and not excluding food deliveries, Serve platform also permits end users to access the on-demand transport options.
The Serve blockchain technology will provide reduced charges to every end user. Companies will be able to use the services of Serve providers to ship goods, as a substitute for the present delivery services.
Stakeholders that are utilizing the Serve platform will have access to their preferred businesses.
With aid of the Serve website and decentralized applications, consumers are capable of requesting services and also place orders from their favorite or choice of vendors.
All registered end users that are connected with enterprises on the Serve will have access to the service providers who have already put up their reputation on exceeding consumer prospects.
Companies are expected to acquire and utilise coins to validate and design profiles preceding to customers validating information.
Consumers obtain and apply tokens to transact with businesses using Serve to shortly buy goods and assistance. Afterwards, customers stake their tokens and evaluate transactions according to driver reliability, organizational validation and order adjustment.
Organizations can promote their assets and services straight to their encircling communities and advance promotions.
Buyers earn rewards for social participation, validation surveys, content submission, and touring sections.
Consumer Purchases and Delivery
Customers have the ability to swap tokens and use tokens for acquiring goods, food distribution, courier services, shipping, and logistics.
About The Serve Token
The Serve Token “SRV” is the fuel of the Serve platform that will enable transactions and incentivization of users to corroborate quality service all through pickups and deliveries. SRV is also used to validate and confirm services and quality of goods and services employing via staking mechanisms while concomitantly capitalizing on a decentralized and direct delivery service. The Serve token also permits members in the Serve ecosystem to discretely stake in every transaction in which they partake.
In total, 10 billion tokens will be issued, the cost of each of them will be 1 SRV = $0.10.
Token Allocation and Budget Allocation
Meet The Amazing Team
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.