Galaxy eSolutions ICO is live now!

1. What’s the history of Galaxy eSolutions? How and where did you begin?
   
   Well, Galaxy eSolutions (GES) team is a team of e-commerce specialists and had happened to chance that the pre-owned and refurbished phone market is massive and yet hugely fragmented, and ideal for consolidation. The team then got a licensed refurbishment factory in China as stakeholder to give it a hue supply chain advantage. The team then looked into blockchain and believed this technology would address the industry pain points and bring disruption to e-commerce.
2. What problem are you solving? Who are you solving it for? 

   Basically, we are solving the trust issue. The trust in ensuring the right products being delivered within the right period in the right condition and at the right price. We are solving this not only for the end consumers but also the business resellers within our e-commerce ecosystem.

3. What is your solution to this problem? 

   GES will utilise the blockchain to store the phone IMEI information so as to ensure the right product and version; to store the product movement info so as to ensure the goods are delivered accordingly; to reduce the cross-border transaction costs and time in order to allow best product pricing; to have the smart contract acting as escrow to eliminate trust issue; to store the refurbishment details so as to ensure the proper service levels and expectations;

4. Why is your industry ripe for disruption? (include statistics, case studies, etc. of inefficiencies that make your market worth investing in). 

   Well, the pre-owned and refurbished phone market alone (not to mention the entire consumer electronics market) is a 20BN USD market according to IDC market research report, and deemed to hit 30BN in 2020. Yet, it is a very fragmented market without a true market leader.The market inefficiencies lie in the current market lies in the traditional supply chain, in which a factory sells to wholesalers then to resellers and finally to the consumers. GES instead utilises F2C (Factory-to-Consumers) model for its B2C and cuts out middlemen to increase on price competitiveness, service level and quality assurances.There is also a big lack on trust and confidence. Consumers find it hard to know what’s the likely quality of their refurbished products; traders find it hard to know who are good suppliers; there’s a lot of frauds in this market and industry;

In our whitepaper, we detailed clearly on how we address these issues using blockchain and a hybrid e-commerce ecosystem model.

Please click here to access an extract from the Whitepaper