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Key Features for Buyers

  • Secure and Transparent Transactions: All transactions are recorded on the blockchain, providing a tamper-proof and transparent history. Smart contracts act as an escrow service, ensuring that payment is only released to the seller once the buyer confirms receipt of the goods or services.
  • Verified Sellers and Products: The platform includes a reputation system where sellers are rated based on past transactions. This helps buyers identify trustworthy sellers. For certain products, an NFC chip can be scanned to view the product’s entire history on the blockchain, including previous owners and repairs.
  • Customizable Workflows: Buyers can utilize or create custom workflows for their purchases, allowing for flexible and tailored transaction processes.
  • Privacy and Data Protection: Colabonate prioritizes user privacy through pseudonymity and advanced encryption, ensuring that personal data is not unnecessarily exposed.
  • Direct Interaction: The platform facilitates direct communication and transactions between buyers and sellers, eliminating intermediaries and reducing costs.

Buy

  1. Find a Product/Service: Buyers can browse the marketplace, filtering by various criteria, including sustainability certifications or seller reputation.
  2. Initiate Purchase: When a buyer decides to purchase, a “Smart Order Ticket” is generated. This ticket contains all relevant transaction details like price, description, and delivery terms.
  3. Payment: The buyer’s payment is secured in a smart contract (escrow).
  4. Delivery and Confirmation: The seller is notified to ship the product. Once the buyer receives the item, they confirm the receipt in the app.
  5. Payment Release: Upon confirmation, the smart contract automatically releases the payment to the seller.
  6. Rating: The buyer can then rate the seller, contributing to their on-chain reputation.

The Buying Process

Scenario Description
Verified Second-Hand Purchase Scan a product’s NFC chip to verify its history and authenticity before buying.
Eco-Friendly Shopping Filter for products with CO₂-neutral certifications and earn climate tokens with each purchase.
Group Discounts Participate in group orders to automatically receive discounts based on the number of buyers.

Benefits for Buyers

  • Maximum Security: The escrow function protects buyers from fraud.
  • Full Transparency: The entire transaction process is traceable on the blockchain.
  • Trustworthy Sellers: The reputation system helps in choosing reliable sellers.
  • Cost-Effective: Reduced fees due to the absence of intermediaries.
  • Support for Local Economy: The platform encourages purchasing from regional and local sellers.