– What is Luxochain? –
Luxochain is a technological tool that seeks to bridge the gap between blockchain and luxury such that the informatics involved in blockchain technology is applied in building a better system for luxury goods.
Are there benefits to Luxochain?
Like other products of blockchain technology, Luxochain has benefits it affords to both its’ users. Listed below are some of the amazing benefits of Luxochain:
- Exclusivity: based on the premise that every product sold/ bought through blockchain technology has its’ own unique digital stamp, Luxochain affords every luxury goods bought with it the advantage of being one of its’ kind, hence being unrepeatable for unwarranted sale.
- Quality Assurance: one of the major issues producers of high- end goods have to regularly battle is product mimicry. That is to say, many unknown groups of people produce goods that are similar to the original luxury goods only that these knock-offs are produced using much cheaper material. The use of these materials does not however deter some fraudulent people from selling these knock-offs at the same rate the original goods were to be sold for while some others sell these for cheaper. Common to both instances is the fact that quality is toyed with.
With Luxochain however, since the producers are in control of their goods and buyers can transact directly with them, buyers can be sure that the products they will be sold are the original version they showed interest in.
- Consumer Trust: owing to the fact that Luxochain allows luxury goods producers have control over maintaining the quality of the goods, the trust their customers have in them is further enhanced and good working relationships are formed.
- Security: Luxochain affords security in the sense that:
- Blockchains are resistant to data modification. As such, not only can Luxochain meant for goods purchase not be tampered with, the purchased goods are also delivered to the intended customers without changes.
- As Luxochain helps reduce the amount of ‘hard currency’ involved in the purchase and sale of goods, especially luxury ones which usually involve a huge amount of currency, the security of buyers and sellers of such goods is, therefore, more pronounced. This is based on the premise that the occasion of theft of such money is significantly reduced as there is no money to steal.
- Guaranteed exciting shopping experience: everyone loves shopping, but not everyone likes the knowledge of money leaving their bank account. However, in a “you can’t eat your cake and have it” fashion, it used to seem that you can’t shop for things without spending money. But imagine a world where you can buy luxury goods without receiving debit alerts or calls from your credit card company. Amazing, right? Well, that is what Luxochain affords clients as you no longer need ‘ physical’ cash to shop. So, shop on!
The benefits of Luxochain cannot be over-emphasized, and one word that can suitably describe these is “Amazing!”.