Breakdown of FMT Whitepaper - FreeMarketToken pt 1/5

This article is one of a five part series and is an effort to simplify the whitepaper in my own words.

THE ECOMMERCE MARKET

The ecryptostore platform is planning to leverage on the blossoming ecommerce marketplace by bringing both buyers and sellers together with user friendly interface. The platform will create its own utility token called Free Market Token (FMT), this token will have the properties of cryptocurrencies and give users the opportunity to operate independently without the involvement of third parties in transactions.

The Ecryptostore platform has a well developed and user friendly marketplace for peer-to-peer trading with its availability on iOS, Android and web applications. Ecryptostore offers the following services: different option for cryptocurrency payment, an encrypted end to end chat, push notification alerts, review, listing management, analysis of sales, inventory control, invoicing, fixed-to-the-dollar pricing, metatag searching function just to mention a few.

Features
•Free account registration, users can simply need to sign up, followed by verification to confirm the authenticity of the information provided and the account is activated on confirmation.

• Thorough verification of all merchants joining the system all in a bid to protect the buyers from scams and fraudulent activities.

• Buyers can make direct payment from their personal crypto wallet.

• Buyer can connect directly with sellers through a private secured chat, buyers and sellers from all over the world can trade with each other at reduced cost.

• Merchants that trade on The Ecryptostore platform will be paid with cryptocurrency for the goods and services sold and payment will be made into a wallet of their choice or the Ecryptostore wallet.

• Merchants can decide to sell in bulk or one by one and merchants can sell to a local, national and global buyer. Merchants can achieve this by simply creating a free basic account or by paying a token to get an advanced subscription for extra benefits.

• Merchants that advertise on the Ecryptostore platform can send free EMT token to Buyer through Audience Incentivised Gift Marketing.

• Ecryptostore rank merchants based on their performance, buyer review and feedback.
With a goal of dominating the crypto-world, the Ecryptostore platform aims to spread its tentacles to every corner of the globe. Every new region will get special attention regarding the execution of a strategic marketing plan (the smartphones and web app will be built to suit the language, cultural influence) with a local support personnel in place to ease operations in each region.

USER INTERFACE

SIGN IN/LOGIN
Both buyers and seller can sign up and login with their emails or Facebook account.

SEARCH BY: PRODUCT/ MERCHANT
An excellent product filtering system that makes search fast and easy.

VERIFY ACCOUNTS
Improved security for the users because account are verified through SMS and Email

CUSTOMIZE INTERESTS
Users have the options of selecting items that interest them, the platform AI will learn each customer’s preference and show them on the user’s dashboard. This is done to make transactions easy and swift for every user.

DIRECT MESSAGES MESSAGING
Users can exchange encrypted direct messages with each other without the interference of a third party.

EASY TRACKING
Orders can be easily tracked via the ‘My Orders’ option on the user’s dashboard.

MULTICURRENCY WALLET
The Ecryptostore cryptocurrency wallet will give users the option of keeping different types of crypto’s which the users can use for trading, transfer, or used to settle any outstanding bills, all at their convenience.

DIFFERENT PAYMENT OPTION
Merchants can choose the cryptocurrencies they would prefer to use during transactions on the platform through Store Settings.

PEER-TO-PEER REVIEW
Buyers can drop reviews and feedbacks regarding the merchant after each transaction, this reviews and feedbacks will guide subsequent buyers to identify merchants with a good reputation in the marketplace.

SELLERS DASHBOARD
Seller’s dashboard will allow sellers to effectively manage the online store, the dashboard will have options for messages, notifications, orders, reports and store settings.

QUICKLY ADD PRODUCTS
Merchants will be able to add a product in a matter of minutes, this function is available on both the smartphone and web applications. The current status of the merchant, the affiliate status, ID verification level, and Instant settlement escrow status will all be available on the dashboard.

REPORTING TOOLS
The seller can easily track their trade performance overtime, with the report showing the store performance and track profits of each item. This report can be downloaded and printed for reference purposes.

INVENTORY CONTROL
The platform have an inventory tool that will aid in the efficient management of stock, this will make it easy for merchants to keep a tab on stock levels.

CRYPTOCURRENCY WALLETS
Wallet addresses can be easily updated to get payment from different types of available cryptocurrencies.

SHIPPING STATUS
An effective function that displays shipping status, this will allow users to track the transport and shipping of goods.

Disclaimer: I earn FMT tokens to discuss with and educate others about FMT and Ecryptostore, and you can too! Anyone can join from now until August 15th. Let’s get the conversation started about buying and selling goods with crypto! Click here to join. Any quotations above cite the whitepaper directly. This is not financial advice, and you should do your own research before participating in any sort of investment.

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