The e-commerce industry is growing everyday despite the problems facing this industry unaddressed. People prefer to get products and services from online stores because they are provided with more options to products, services, discounts and so on but are still faced with some problems such as trust issues, substandard products, poor packaging and shipment. Merchants and sellers also have unsuitable conditions to comply with. Some of these conditions include: high and many transaction fees, building trust and reputation, unnecessary change of policies, sanctions and freezing of account. However, the adoption of blockchain technology into the e-commerce industry will transform the industry tremendously. One advantage of blockchain technology to the e-commerce industry is that it is a digital ledger that is decentralized and secure. Its acceptance and usage are widely increasing. According to Gartner forecast1 , "the business value-add of blockchain will grow to slightly more than $176 billion by 2025, and then it will exceed $3.1 trillion by 2030."
The Tranium System is a system for the e-commerce industry established on the Ethereum blockchain to tackle the problems faced by merchants and consumers in the industry. The system provides two solutions:
1. The Tranium Token, and
2. The Tranium Marketplace.
The Tranium Token is a decentralized online payment solution on the ethereum blockchain, carefully created to eradicate the problems faced by both sellers and buyers in the industry. With Tranium token, sellers will no longer wait for the long payment processing, different unnecessary fees and charges. Also, the buyers’ personal information and card details exposure, payment charges will be eradicated by using Tranium token as means of payment. In addition, the Tranium Marketplace will provide a new online store, a decentralized trust worthy marketplace on the blockchain for tomorrow’s global e-commerce. Tranium Marketplace System comes with a model that allows merchants and buyers to transact safely and comfortably.