Renrenfeng CMO Consultant Paul: Renrenfeng will use blockchain technology to open up three dimensions for social e-commerce

On October 13, at the NBC China 2018 Blockchain Summit hosted by COBO and Ostrich Blockchain, Renrenfeng demonstrated a one-stop blockchain solution for social e-commerce.

It is reported that Renrenfeng will use blockchain technology to create a public chain for the vertical industry of social e-commerce and build the blockchain infrastructure for social e-commerce. It will provide a series of smart contracts, management mechanisms and a set of token incentive models to help the community self-govern and promote the healthy development of the community.

According to the content of the conference, Renrenfeng will be able to distribute benefits and incentive mechanisms more fairly through the empowerment of blockchain technology, and promote the formation of a social e-commerce co-governance organization DAO.

At the same time, we will improve supply chain data, commodity data, and e-commerce industry data, and combine them with AI to promote the upgrading and scale expansion of the social e-commerce industry. In addition, we will build a credit system and trust mechanism that cannot be tampered with to improve the overall quality of the social e-commerce industry.

In addition, the company will also use a new incentive model, POTT (Proof of Trade Trust), to fairly form a social e-commerce consensus based on decentralized transaction volume, transaction amount, repurchase rate, evaluation and other factors.

At the summit, Paul, CMO and senior expert consultant on social e-commerce at Renrenfeng, also explained the model and pain points of the social e-commerce industry to the participants.

Mr. Paul Lin talked about the details of Renrenfeng at the summit. He said: "We hope to apply the public chain of Renrenfeng in the field of social e-commerce. I am very vertical in this industry. How to do it specifically? Generally speaking, there are three most important factors: people, goods, and money. Many B-side merchants in social e-commerce have been looking for solutions to problems. Many social e-commerce companies are asking where our promoters are and how to train them to become my partners. Therefore, how to tap into a high-quality e-commerce group is something that needs to be broken through. The second is the product. Imagine that you see a product in your circle of friends. What is the reason why you are willing to buy it directly? It must be that you have trust in it and you still have demand for it. The third is the efficiency of retail in the transaction scenario. As long as money is involved in all links, as long as there is one more step, the conversion cost will increase by more than 30. How to get through this more effectively and quickly is the three dimensions we hope to help social e-commerce solve through blockchain technology. Renrenfeng social e-commerce blockchain has large-scale business scenarios and large users. I hope to work with everyone to truly implement blockchain technology."

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