Platform Operations
dMarketplace's operational framework is designed to ensure seamless integration of blockchain and AI technologies, facilitating efficient and trustworthy e-commerce transactions.
Last updated
dMarketplace's operational framework is designed to ensure seamless integration of blockchain and AI technologies, facilitating efficient and trustworthy e-commerce transactions.
Last updated
dMarketplace is committed to developing a fully self-managing, AI-powered, and decentralized e-commerce platform. This integration bridges the gap between virtual on-chain assets and tangible real-world goods, enabling customers to shop for physical products using cryptocurrencies while allowing merchants to receive fiat currency seamlessly. This dual-currency approach simplifies tax compliance and payroll management for merchants.
Order Placement: When a customer places an order, the system notifies the respective vendor to prepare the order for shipping.
Smart Contract Activation: Upon order confirmation, a smart contract is initiated to handle the transaction.
Shipment Confirmation: The vendor updates the shipment status, which is verified by the smart contract.
Delivery Confirmation: The customer confirms receipt of the product.
Funds Release: Once delivery is confirmed and validated by the network, the smart contract releases funds to the merchant.
AI-Assisted Dispute Resolution: dMarketplace employs AI to facilitate efficient dispute resolution between merchants and customers.
Dispute Workflow:
Initiation: A dispute is raised by either party concerning the transaction.
Evidence Submission: Both parties submit relevant evidence (e.g., photos of damaged goods, tracking information).
AI Analysis: The AI system analyzes the evidence against predefined criteria to determine the validity of the dispute.
Resolution Enforcement: Based on the AI's decision, the smart contract either issues a refund to the customer or penalizes the merchant.
Merchant Penalties: Merchants failing to satisfactorily resolve disputes may receive strikes. Accumulating three strikes results in an automatic ban from the platform, enforced by the smart contract.
All merchants on dMarketplace are required to undergo a comprehensive Know Your Business (KYB) verification process to ensure legitimacy and trustworthiness. This process includes:
Business Registration Verification: Confirming the authenticity of the merchant's business registration documents.
Financial Audit: Assessing the financial health and stability of the merchant.
Compliance Check: Ensuring adherence to relevant legal and regulatory standards.
Ongoing Monitoring: Continuous monitoring of merchant activities to detect and prevent fraudulent behavior.
