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Partnering with FADO will allow KardiaChain to bring more clarity and trust to the ever-growing e-commerce field.
In an attempt to further its mission of “accessible blockchain for millions”, KardiaChain has entered into a strategic partnership with FADO to integrate its technology into the FADO system to bring transparency and traceability to e-commerce users.
Introducing Transparency to E-Commerce
E-commerce sales were $1.8 trillion in 2016, and, in 2020, it was more than $4 trillion. As per Statista, the online shopping sector is projected to grow to $5.4 trillion in 2022. At the current rate, the e-commerce industry may seem invincible. But, this is far from the truth. Since the inception of the internet, the industry has been centralized, with little to no transparency for online shoppers. Besides, the current model of marketplaces includes overcharging buyers and unfair treatment of sellers.
FADO has been working since 2011 to change the narrative of the e-commerce market in Vietnam by introducing a fair system to retail users. The company has been successfully getting rid of cross-border e-commerce barriers, helping shoppers import billions of products directly from all around the globe. In addition to being a prominent member of VECOM (Vietnam E-Commerce Association), FADO is also an authorized partner of Alibaba to support small and medium online businesses globally. Besides, the e-commerce website of FADO brings over millions of customers every month, racking over $2 billion in revenue.
Integrating KardiaChain into its system, FADO intends to bring transparency to the cross-border e-commerce platform, further creating a trustable marketplace for buyers and sellers.
“We believe the collaboration between KardiaChain and FADO will create transparency of goods movement and gain trust from customers, provide customers with the quickest access to cross-border quality products with ease,” shared Mr. Dat Pham, CEO, and Founder of FADO.
KardiaChain – Creating A Trustworthy E-Commerce Model with FADO
Being a blockchain infrastructure, KardiaChain leverages the unparalleled level of decentralization and transparency of blockchain technology. It uses a non-invasive solution, called Dual Node, that facilitates inter-chain operation to reduce cost and avoid congestion. These abilities of KardiaChain make it an ideal solution that can be integrated into any e-commerce marketplace to introduce transparency in an area that is considered highly private. Partnering with FADO will allow KardiaChain to bring more clarity and trust to the ever-growing e-commerce field. For FADO, this integration will introduce the following benefits:
- Users can trace the origin and verify the components and production of a product they see/buy on FADO.
- All transactions on FADO will be secure, fast, and transparent.
- Users are rewarded with FADO coins for their loyalty to the platform. This will further increase the customer acquisition and customer retention rate.
- Introduce new solutions in the form of stablecoins to quickly facilitate cross-border transactions – without losing the value of currencies involved.
Blockchain (KardiaChain) and E-Commerce (FADO) – A Match Made in Heaven
Blockchain technology records the transactions on a database that is encrypted and distributed over multiple nodes (computers), similar to a digital ledger of transactions. However, instead of being in control of a single entity, any user can see transactions occurring on a specific network – KardiaChain in this case.
Adding more to the problems in the e-commerce industry, it faces challenges like security measures, transparency, efficiency, and more importantly, trust. These inherent issues can only be solved by implementing blockchain technology to e-commerce marketplaces – FADO in this case.
Both blockchain and e-commerce include transactions. While blockchain makes transactions safer and near-instant, e-commerce activities rely on these features. Integrating these two will result in a trusted e-commerce marketplace, which leverages the transparency and efficiency of the KardiaChain blockchain and the huge, cross-border e-commerce marketplace of FADO.
Furthermore, bringing FADO to the KardiaChain network means less expenditure for FADO as blockchain technology can conveniently combine the platform’s exercises like inventory management, product descriptions, payment processing, etc., with other business activities.