Blue Whale and Arcadier Announce Partnership MOU

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15 Aug 2018

Arcadier Announces Partnership with Blue Whale Foundation

Digital marketplaces have revolutionised small businesses and self-employment prospects. However, there still remains numerous intricacies and obstacles to overcome in order for freelancers to have complete trust and freedom on these marketplaces. Our partnership with Blue Whale will contribute in building an extensive online ecosystem where everyone can benefit and have access to the growing sharing economy through blockchain solutions. Both companies have signed a Memorandum of Understanding (MOU) aimed at expanding collaboration to change the freelance and resource-sharing scene globally.

This collaboration also aims to increase utility of BWX tokens that may be used by marketplaces built on Arcadier as well as allowing referees of products sold on the marketplace to earn BWX tokens as well.

About Blue Whale Foundation

The Blue Whale Foundation is disrupting the freelance and gig sharing economy by tackling issues such as the high costs of using the platforms of tech-giants like Facebook and Upwork, and the lack of employment benefits for freelancers. Their blockchain-based protocols remove the middlemen in transactions, and reward users for providing fundamental functions that marketplaces today depend on such as referrals, ratings, task verification and dispute resolution.

About Arcadier

Arcadier is the world’s fastest-growing proprietary marketplace builder platform providing opportunities to anyone who wants to kickstart their own online marketplaces for goods and services. We lower the barriers to entry in the marketplace by removing hefty operational costs and the need for technical knowledge. Marketplaces are an important platform for small business owners and the self-employed to sell their goods and services, and be discovered. However, marketplaces suffer from two chronic problems that hinder their growth — and Arcadier, along with Blue Whale, are here to solve them.

“Chicken and egg” problem

Firstly, the ‘chicken and egg’ problem persists in most marketplaces — sellers will only sign up to sell if the platform is popular amongst buyers. Conversely, buyers will only be attracted to the platform if there are sellers promoting items on their ‘digital shelves’. As such, most marketplaces wither even before there is substantial traffic to make profits on the platform.

Solution

Arcadier’s platform quickly builds full-suite marketplaces allowing small businesses to easily create their own versions of ‘Amazons’ and ‘Ebays’ the same way Wix or Wordpress allows everyone to create their own websites.

Our partnership with Blue Whale intends to add value to Arcadier’s marketplaces by building a blockchain based — Referral Reward System (DAN) plugin. Individuals can be rewarded on the network for referring others to make purchases on Arcadier’s many marketplaces. This will drive traffic to the marketplace platforms and the individual sellers on the platform. Rather than spending exorbitant amounts on influencer marketing, this decentralised referral reward system turns everyone into a potential sales channel for small business and freelancers found on Arcadier’s various marketplaces.

How the Referral Reward System is able to bring in traffic for marketplaces on Arcadier

Discoverability/Long Tail problem

Secondly, individual sellers on marketplace platforms often struggle to be noticed in the sea of product listings on the platform. This prevents new users from having a sustainable earning because they are bogged down by poor sales.

Our partnership with Blue Whale will give marketplaces that are built on Arcadier access to a wider pool of small businesses and the self-employed in different industry verticals within the Blue Whale Network. Discoverability of sellers will and buyers will increase, and both parties can feel secure and recognised participating in such an accessible business landscape.

To find out more about how both companies are making a difference in the new era of Ecommerce and the sharing economy, visit their official websites at The Blue Whale Foundation and Arcadier.

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