Solution Life - New payments solution

[slctoken]

Solution Life is an open-source platform that enables to create peer-to-peer marketplace and ecommerce applications.

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Solution Life aims at building a global sharing economy, allowing buyers and sellers to use segments of goods and services (car sharing, service missions, home sharing, etc.) to transact on the open, distributed source web. Using Ethereum blockchain and Interplanetary File System (IPFS), the platform and its participants can interact with the peer-to-peer model, allowing the creation and placement of services and goods without going through traditional middle parties. We plan to build a large-scale commercial network:
• Exchange financial value directly (listing, transactions and service fees) from big corporations like Airbnb, Craigslist, Postmate, ... to individual buyers and retailers.
• Exchange financial value and strategic value (internal aggregation of customer and transaction data) from similar corporations to entire ecosystems
• Create new financial value for market participants who contribute to platform development (e.g. building new technology for the Solution Life platform, developing new vertical products and introducing new users and businesses)
• Build the open, distributed, and shared data layer to promote transparency and collaboration
• Allow the buyers and sellers in the world to transact without difficulty in converting currencies or tariffs
• Promote personal freedom by not allowing a corporation or central government to impose arbitrary and overly conventional rules of business operation. To conduct these ambitious goals, we created the Solution Life Platform with programs that encourage technologists, businesses and consumers to build, contribute, and expand the ecosystem. We plan to build a broad collection of vertical industry applications (e.g. short vacation rental, free software engineering, tutoring) built on standards and data sharing Solution Life. When writing this article, the Solution Life platform is currently in Mainnet Beta. Platform Version 1.0 is expected to be activated in Quarter 3/2020. While the majority of engineering work is being done by the core engineering team, we expect future developments, after launching platform 1.0 from developer, will come to open source community members Together, we will create the Internet economy of the future.
Details of Whitepaper:
• Why is a new model of peer to peer trading necessary?
• Benefits proposed on the Solution Life Platform
• Product strategy, main features and technical overview
• Overview of the Solution Life team and community

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ACTIVATE THE OVER THE COUNTER MARKET
Our vision is to build and develop a free service exchange on the new Internet. In order to do this, we have to build a simulation platform of most, if not all, of the functionality of a third-party intermediary on the blockchain and other distribution systems. This is an ambitious and technologically challenging goal, but we have already completed important milestones that demonstrate our technology and the realworld applications of the project. The Solution Life platform has 3 main elements, all of which are open sources:
• Solution Life enabled end user applications
• Solution Life platform for developers
• Solution Life's application protocol

Solution Life enables end user applications The Solution Life flagship marketplace app is our consumer marketplace product that allows buyers and sellers on the network to do business. It is available today on the web at shopSolution Life.com and on both iOS and Android mobile devices.

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TOKEN SOLUTION LIFE (SLC)
The Solution Life Token (also known as SLC) is a utility token that serves multiple purposes in ensuring the health and growth of the network. The ERC20 contract is live on the Ethereum network today at:
0x4d44D6c288b7f32fF676a4b2DAfD625992f8Ffbd.
At a high level, this token is intended to serve a number of key functions on the platform. First, the SLC is a multi-purpose incentive token that is intended to drive the behavior of end users, developers, market operators, and other ecosystem participants. Additionally, the SLC is an exchange intermediary that can be used for payments between buyers and sellers on the platform. Ultimately, it is intended that SLC will serve a vital part in future network governance. Since November 2020, the Solution Life token has been used to encourage various forms of participation from the platform's ecosystem participants. Token Solution Life is used to reward users, developers, marketplace operators and / or other participants for performing activities and services conducive to Platform development. Solution Life Rewards Solution Life is an incentive program targeted at end users on the Platform. Buyers and sellers on the platform have been able to earn SLC since our inaugural Solution Life Rewards campaign in Nov of 2020. Solution Life Rewards enables everyone to have a stake in the network. We’ve intentionally designed the program so that even novice, non-technical users can participate. With Solution Life Rewards, users can get SLC from account creation and identity verification. One of the best ways to network is through referrals. As such, end users can also earn tokens by inviting new users. This creates more confidence between the buyer and the seller. Users can also earn SLC by following Solution Life's social networking sites or promoting project news on public channels.
To encourage trading volume on our Solution Life Platform, we also offer a refund mechanism for users who purchase from reputable sellers on our network. Solution Life Commissions Encouraging marketplace developers and managers to use the Solution Life platform is essential. Therefore, we launched an advertising and promotion program, creating an integrated business model for the decentralized marketplace running on Solution Life. Merchants on Solution Life apps can promote their listings using SLCs for greater visibility on search and browse results on our preferred and partner apps. The only way to join this program is to pay with SLC. When a merchant creates a listing, they can add a commission paid in SLC to their listing. This SLC is placed on escrow in the Marketplace Smart Contract.

 

[slctoken]

BACKGROUND
Since the appearance of the Internet, the digital marketplace has connected buyers and sellers of goods and services, allowing transactions that have never happened before. Craigslist launched in 1995 and dominated for many years in local and regional commerce. At the same time, eBay began to grow and create a whole new category of sales based on auction, creating a more efficient way of doing market business. Through 20 years of rapid change, many businesses on the Internet market in both B2C and B2B types have developed strongly. Currently, sharing economy markets such as Airbnb, Uber, Getaround, Fiverr and TaskRmus have been very successful in combining buyers and sellers of the sharing economy. Now, the use of distributed assets can be sold as easily as atomic items, and people around the world are exchanging their excess inventory, time, and skills for profit. New markets including the Gig economy, the service sector and the use of segment assets are particularly suitable to be basis for peer-to-peer systems built on blockchain. Most of the shared economic enterprises have some common points. Firstly, as a collection, these companies have made a big impact on the world. Consumers of the markets were able to improve their lives with access to products and services that they didn't have before. Vendors have been using these platforms to reach customers on a larger and easier scale than before. Each market creates a "private home" for consumers and suppliers to transact together, creating liquidity for that market. Secondly, most sharing economic enterprises follow the same growth cycle. Without a few exceptions, these famous markets are difficult to launch and grow. Enterprises in the market often have to start building with millions of dollars, and in terms of Uber and Airbnb, these two businesses spend billions of dollars to scale. That is also the reason why these businesses suffered serious losses in the early days. In fact, the corporation is subsidizing the use of marketplace for its users. However, due to the very positive cross-network effect, successful marketplace businesses can increase revenue exponentially over time, usually by charging a fee per transaction on the network. Network-effect enterprises, such as share economy market, are often enterprises occupying all directions and growing stage, gaining a disproportionate value from the network for corporation’s management and their shareholders. In many ways, they become the only dictator on the scale they achieve. Finally, although there are huge differences in user experience, business mechanics, and vertical specific features among companies on the Internet market, they all share many parts built and rebuild many times. Lyft, Postmate, and DoorDash themselves has designed their own solutions for user and supplier profiles, shopping experiences, matching algorithms, reviews, and ratings. This is proprietary technology that is valuable on one side. On the other hand, chasing useless things each time creates a new market vertically wasted time and effort. Consumers also create and manage dozens of accounts on these market enterprises themselves, each with their own personal data and transaction history.

In the last few years, blockchain technology innovators and investors have called teams to build peer-topeer versions of businesses in the current sharing economy and to trade the Internet in a more efficient way. P2P lodging sites like Airbnb have already begun to transform the lodging industry by making a public market in private housing. However, adoption may be limited by concerns about safety and security (guests) and property damage (hosts). By enabling a secure, tamper-proof system for managing digital credentials and reputation, we believe blockchain could help accelerate the adoption of P2P lodging and generate.” - Goldman Sachs Research (Blockchain: Putting Theory into Practice) Don Tapscott, the author of the "Blockchain Revolution", said that Bitcoin-based technology could be used to promote the interest in Uber and Airbnb. - The Wall Street Journal "It is difficult for middle parties to achieve sustainable growth in business," [Fritz Joussen] said. "These platforms [tourism middle parties] build accessibility by spending billions of dollars on advertising, and then they generate exclusive profits based on what they have with sales and marketing. They provide great sales and marketing services. Booking.com is a big brand but they make outstanding profits because they own proprietary structures. Blockchain will destroy this. "- Skift However, most of the infrastructure and transmission systems for building distributed-market applications did not exist before Solution Life was born. We aim to address the shortcomings of current market companies and are happy that we have launched the Solution Life Platform, which opens up peer-to-peer commerce with corresponding scale.