•   10 months ago

Understandability about the problem statement

Can you please elaborate about the problem statement. Could you please simplify it and explain it in naive terms. Thanks.

  • 5 comments

  • Manager   •   10 months ago

    There is lots of information involved within the day to day transactions that take place within a community. However, this information is not currently leveraged adequately, and much of its value is lost. Take for example, if people buy sugar to resell it and people do it on an individual basis without sharing info of its historical transactions, the price of sugar they will get is much higher as opposed to sharing information with each other on how often they buy sugar, price, etc., thus acting as a collective bargain.

    This affects, without any question, the negotiations that the community, as a whole, makes with the companies that provide them of products and/or services. The collective economy is, therefore, being affected negatively.

  •   •   10 months ago

    Thanks Natalie for the quick response. So you would want to eliminate the middle men in the supply chain . For example : Wholesaler => Retailer => Customer .. you want to eliminate the Retailer. Am I right. ..

  • Manager   •   10 months ago

    Not exactly. This is not about eliminating middlemen. It is about leveraging the information that is being generated when each individual of the local community executes a transaction. The whole point of leveraging this information effectively is to being able to carry out successful collective bargains (as a community towards companies).

  •   •   10 months ago

    Thanks Natalie for your effort . I get it now, we are grouping the individuals from the same community based on the product they want to buy and approach the companies to bargain the product at a much lesser price (bargain) taking the individual record of their past buying patterns , location information, etc.

  • Manager   •   10 months ago

    You got that right. This is why a Blockchain solution that allows the most leveraging of the data of those transactions is so needed.

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