Truedeal uses luxury goods transactions as a starting point to enter the broader commodity trading market

At present, China has become the world's second largest consumer of luxury goods, with a huge stock of luxury goods, which has laid the foundation for the emergence of a huge second-hand luxury goods trading market.

As high-net-worth goods, luxury goods have a high secondary circulation value. In Japan, where the second-hand luxury goods trading system is the most mature, the annual trading volume of second-hand luxury goods is as high as 100 billion. The pain point of high-net-worth goods in the second-hand market is the issue of customer trust.

After 30 years of development, Japan's second-hand luxury goods trading has already had a very complete circulation management system. However, in China, the establishment of the circulation system is still in its early stages, which has greatly affected the trading scale and circulation efficiency of second-hand luxury goods.

Luxury goods have problems such as high unit prices, rampant counterfeits and imitations, high identification thresholds, and opaque sources of goods and purchasing channels. It is precisely for this reason that second-hand luxury goods have the highest threshold in the second-hand goods circulation system.

Truedeal is a global high-end idle goods (mainly luxury goods) C2C trading platform based on blockchain technology. By establishing a high-standard global luxury goods traceability certification system and an efficient arbitration panel and jury arbitration system, it provides commodity traceability and community arbitration services to both parties of the transaction, improves the trust problem in the circulation of high-end goods, and thus forms a credible high-end idle goods trading and circulation ecosystem.

Truedeal builds a full-process tracking system for transaction

In order to prevent distribution safety issues such as package substitution and loss during the logistics process, Truedeal monitors the entire distribution process and uploads all logistics information to the chain, making the logistics information truly searchable and traceable, providing users with a safe and reliable transaction experience.

First of all, logistics service providers are important nodes in the entire Truedeal transaction ecosystem. Since each product has its own unique and non-replicable identity tag, when the courier accepts the order, the product information is uploaded to the chain and enters circulation. Truedeal will also verify the identity of the product at several key nodes in the entire circulation process, such as courier order acceptance, product entry and exit, product sorting and delivery. Secondly, during the transportation of the product, Truedeal will track the product's in-transit trajectory, so that the product's accurate positioning information to the meter level will be intuitively presented on the user's mobile phone.

Through unique labels, identity verification of key logistics links, and full-process monitoring of transportation tracks, Truedeal conducts multi-dimensional cross-verification of commodity circulation information, which can minimize the possibility of fraud in the commodity circulation link, thus laying a solid foundation for building a global high-end idle goods trading ecosystem.

In addition, Truedeal will actively expand the access of leading domestic third-party logistics service providers such as G7 and Dadong Chehui to Truedeal, provide more professional commodity tracking services, and continuously promote and improve the development of the entire commodity trading ecosystem.

Truedeal introduces community-based arbitration system

In the process of commodity trading, especially online transactions, disputes between buyers and sellers are inevitable. Truedeal has designed a complete arbitration system for this purpose. The arbitration system consists of two parts: the real-name arbitration standing committee and the arbitration jury. Truedeal has established an arbitration and reconsideration system: when the buyer and seller reach a consensus on the need for platform arbitration and both parties pay the arbitration fee, the platform will randomly select appraisers from the arbitration standing committee composed of real-name registered appraisers to form an arbitration panel for the first arbitration. The buyer and seller provide commodity information and data specified by the arbitration committee. After the arbitration panel conducts professional analysis and judgment on the evidence provided, they will vote independently to prevent collusion among members of the centralized arbitration panel. When the buyer and seller have objections to the arbitration voting results, they can choose arbitration reconsideration. At that time, Truedeal will randomly select 2n+1 qualified members from the wider Truedeal user community to form an arbitration jury for the final arbitration. All information in the arbitration process will be stored on the Truedeal Chain, continuously improving commodity information and user credit system.

Truedeal's arbitration system aims to fully guarantee the rights and interests of users. The arbitration panel composed of professional appraisers ensures the accuracy and efficiency of arbitration. The arbitration jury composed of users from the entire community guarantees the decentralization and fairness of arbitration to the greatest extent. Through a sound community-based arbitration system, Truedeal will eventually form a safe and reliable blockchain ecosystem.

Truedeal model will penetrate a wider range of commodity trading markets

Truedeal takes second-hand luxury goods transactions as its entry point, aiming to establish the highest standards for commodity transaction traceability, identification, tracking, credit management and arbitration, and become the most complete commodity transaction system based on blockchain technology. It also hopes that this standard and system can be more widely applied to other commodity transaction services, improving the decision-making efficiency and circulation efficiency of commodity transactions.

We believe that commodity categories that have traceability requirements for product quality, tracking requirements for the circulation process, arbitration requirements for the after-sales system, and credit system requirements for buyers and sellers, such as food, medicine, maternal and child products, cosmetics, art collections, etc., will be the first to be infiltrated by blockchain technology and empower the industry through the use of blockchain technology.

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