By
Mayowa Adebajo
March 12th, 2024
Galaxy eSolutions, a blockchain-based ecosystem in the multi-billion preowned and refurbished market, is releasing its very own GES token.
In recent years, the economic climate for the used and refurbished goods has seen rapid growth, especially the market of second hand electronics. A decade or two ago, a thought of purchasing used technology would be met with hesitancy and distrust. Yet, as the market grows, more and more people are seeking second hand goods, opting to purchase and repair their existing electronics via third parties to save money.
It is within this industry that Galaxy eSolutions has established itself as a leading name for the ecommerce of refurbished and pre-owned electronics. Understanding the need for an appropriate middleman to bridge consumers and businesses together in the convoluted space, that exists outside of typical retail and consumer interactions, Galaxy hopes to exploit this gap in the market.
Galaxy eSolutions ecosystem, having reached nearly 20 Million USD in sales within its first year of existence, now has a firm grasp on the ever-booming market of refurbished and pre-owned electronics, which is tipped to be worth billions and is predicted to grow further. With trust being a huge factor in this particular industry, especially when dealing with less regulated and standardised person to person trading, it is no surprise that blockchain technology founded on trust has provided a meaningful solution to these issues.
Galaxy eSolutions has a gigantic operational reach across 26 countries and sees its mission in building a Pre-owned / refurbished B2C (business to consumer) and B2B (business to business) ecommerce Ecosystem. The Blockchain plays a vital role in helping Galaxy eSolutions achieve the goal, as it helps industries maintain an accessible source of recorded, accurate and honest detail of goods, transactions and logistics.
The Blockchain provides credibility that current technologies cannot compete with, and through it Galaxy eSolutions will release a token to the market. The GES token will be used to create listings and purchase services, such as verified or featured supplier spots through Galaxy eSolutions. It will also be used for quality assurance and inspection, going towards ensuring that the refurbished product is held up to standard. The GES token will also act as a ship-on-hold logistic centre, while being a highly functional utility on Galaxy eSolutions sites for purchases.
GES tokens and the blockchain platform are set to be incorporated onto one of the Galaxy eSolutions marketplaces called MobileFreak, where businesses and consumers can trade-in old mobile phones with other businesses – a direct P2P model and blockchain-based ecosystem readily available to keep all parties up to date with all processes and logistics.
Fundamentally, Galaxy eSolutions has fully understood how the blockchain technology can influence the current digital businesses, giving the power to the consumer, and the company’s team has fully utilized this to it’s full potential. The official launch of the sale is planned to start on February 18 and last till March 31, 2018.