Today the world’s assets are siloed and scattered in various inventory lists, making asset discovery, purchasing, settlement and asset acquisition increasingly hard.
From the seller perspective: They are limited to only working with single merchant due to technical framework of centralised online bidding. This results in monopoly of single merchant dominance, but once the merchant gets the inventory, there is no competition, so the seller may not get the best deal. Plus there is no single solution that allows sellers to track and monitor all the processes associated with the inventory auctioning.
From the merchant perspective: they fight for the exclusive right for getting the inventory. Especially if they are small or medium size, they never get access to asset lists that would be exposed to larger merchants.
Shelf.Network is a revolutionary demonstration of how can we use the blockchain technology in the e- commerce world and create a cooperative distributed platform for merchant e-stores and sellers. We distribute open source free auctioning software, that gets seamlessly integrated on the merchant UI side. By launching our “shelf”, each merchant becomes a separate node in the network and is automatically connected to other merchant stores and inventory pools. Technology guarantees the immutability of each auctioning lot and allows to share the inventory, buyer’s bids across the network through a distributed bidding ledger.
Shelf is a distributed network of sellers and merchants, where by using blockchain and smart contract technology sellers can hold white-label multi merchant auctions simultaneously. Merchants from any part of the world get access to democratised list of inventory - breaking down silos and making discovery, purchasing, settlement and delivery of the right asset seamless for buyers.
Our network currently operates for used car auctions among inventory suppliers of: off-lease, off-rent, fleet, repossessed vehicles from western Europe and re-marketing them through Easter European dealer websites. Ecosystem would easy scale into global auctions; as cars, as an asset type already have high liquidity, are traded online, and naturally flow from western markets to eastern world.
Next goal is to diversify by asset types and enter foreclosure market (around 150bn market value in US). Consolidation of sales agents through shelf will offer lenders and local counties universal tool of distributed auctioning, while maintaining the neutrality in appointing the sale agents.
We envision Shelf.Network as a universal multi channel platform for collaboration, that allows the creation of auctioning web, based on geography, asset types, where certain group of sellers merchants and buyers can operate in truly global ecosystem of trades.