Runs.com which was incubated at Columbia University’s Innovation and Entrepreneurship program will use these funds to develop its Blockchain framework that brings transparency and trust to E-Commerce. It plans to achieve this by building a decentralized platform where the decision-making power lies with the user rather than the platform.
Runs.com is led by Giri Devanur who is an EY Entrepreneur of the year award winner in 2017 and an Alumnus of Columbia University. Giri was the CEO of AMERI100, a company that made its journey to NASDAQ in just four years. Giri Devanur is joined by Dr. Artit Wangperawong who holds a Ph.D. from Stanford University.
Runs.com have launched their Token Generation Event (TGE) through 2 phases – presale and crowd sale. There will be a total of 75,000,000 tokens available for contributors.
Backers and fans can log onto www.runs.com to take advantage of the early bird offer which is on a first come first served basis and for a limited period only.
Speaking at the occasion Giri Devanur: Co-founder & CEO – Runs.com adds,
“There is a massive shift away from traditional e-commerce to experiences driven community commerce. No other company has managed to capture experiences and curate them in the past. With Runs.com we are looking to leverage the exciting Blockchain technology to allow people to share their memorable moments within the community. Initially, we will be focusing on Cricket, Cinema and Coffee enthusiasts around the world.”
Dr. Artit Wangperawong Co-Founder and Chief Technology Officer at Runs.com and Stanford alumnus stated,
“Blockchain technology is uniquely poised to disrupt a swathe of industries. At Runs.com, we’re developing the platform along with our signature XKU’s to address the needs of world commerce and to deliver the best experiences to people on one decentralised platform. We are committed to attracting talented individuals to join our team to make Runs.com the premier commerce platform across the world.”
Runs.com will be disrupting traditional e-commerce platforms which use SKU’s as the fundamental way to identify units. Moving away from the conventional SKU’s, Runs.com has patented a new method of identification and tracking called XKU – ‘Experience Keeping Unit’. Runs.com XKU’s will cover the 3-S parameters – Story, Source, and Sustainability.
What is an XKU?
An XKU is a product and service identification code for an item that helps track the item for inventory. It can be assigned to both physical and non-physical products in inventory.
Unlike SKUs whose code usually reveals a product’s details, such as color, size, style, price, manufacturer and brand, an XKU includes the basic elements of SKU and three S-factors; Story, Source, and Sustainability. Each XKU has a unique experience attached to it and is secured on the Blockchain as a ledger entry.
Runs.com is the world’s first Blockchain-based e-commerce platform for experiences targeting over 2.5 billion people. Runs.com is headquartered in Singapore with offices in New York & Bangalore and it intends to initially bring together Coffee, Cinema & Cricket enthusiasts around the world on its platform.
Runs.com aims to build a global community of people around their interest areas in 25 countries and 125 cities.