E-commerce giant Gambio has just announced that it is launching GAMB, the Global Alliance of Merchants on the Blockchain. Employing distributed ledger technology to decentralize online retail, GAMB is a digital marketplace, powered by the merchants. The platform will benefit from Gambio’s more than 25,000 active stores in more than 75 countries, totaling billions in annual store revenues.
Currently, 55% of all product searches are through Amazon, resulting in four million merchants relying on a single centralized platform. Sellers are unable to create their own conditions and rules when selling online, and therefore can’t fully determine their own future for their business. Nor can they accept payments in cryptocurrency, a “no no” for the discerning online buyer. Gambio is planning for the future now, and creating an online marketplace ready to be used by not only the tech savvy crypto-community, but by all merchants and shoppers, looking for a smart and reliable way to shop.
Merchants selling through GAMB will be given the opportunity to join a merchants alliance, granting more control and ownership of their own retail space, and becoming part of a growing digital, retail community, less reliant on a single dominant marketplace.
The greater the number of merchants using and supporting GAMB, the more influential and independent they will become.. The merchants themselves propose the marketplace rules, eventually removing the top down power which hinders merchants in existing marketplaces.
Blockchain technology will bring cryptocurrency to the mainstream. 96% of the American population currently shop online, with the number growing quickly across the world. Over 2.1 billion people are expected to shop online by 2021, by which time it is overwhelmingly likely cryptocurrency and distributed ledger technology will have caught up with increasing demand.
We want GAMB to provide merchants the opportunity to trade in a truly democratic marketplace, which offers the best results for all online businesses and retailers of any size” said Dr. Felix Hötzinger, Delegate of the Board Gambio Services AG “By using blockchain technology, we can provide a platform which not only provides secure transactions, but an opportunity to create a thriving ecosystem of vendors and merchants which is self governing and well ahead of the digital retail curve