Shelf.Network Seeks to Empower Sellers with Decentralized Auctions
Currently live in three Eastern European markets, Shelf.Network aims to disrupt automotive auctions.
Shelf.Network is building its new distributed network for auctioning, which allows you to run the same auction synchronized on multiple interconnected marketplaces. After launching several tests in partnership with the Ukrainian government, on state property trades in 2015/16, last year the company decided to move onto a more commercial niche, and now aims to disrupt automotive trading.
At the moment, the Shelf.Network system is live in three markets in Eastern Europe, with partners in the face of six leasing companies and four marketplaces. One of the niches served is the ex-lease secondary car market. As the business of the partners expands to new markets, Shelf.Network is providing more, better-priced deals at no extra cost.
The Shelf.Network team is an international group, working both in Ukraine and in Berlin, Germany, after being accepted into the Techstars accelerator.
The next step for Shelf.Network is to scale its services, and add Western European suppliers. Thus, the company aims to take a piece of the $250 billion annual market in automotive auctions. As the project grows, the network aims to open to public trades and provide tools for tokenization, through which different network clients can run loyalty, advertising programs, build cross border payment services and improve their operations for efficient networking.
Overall Shelf.Network is an infrastructural layer that divides inventory distribution from re-marketing and disintermediates current centralised e-commerce platforms, allowing anyone to have democratised access and act as a trade agent. Diversity of agents builds tailored bundle of services (financing and transportation) around each shared asset and make one-click cross border sales a reality.
Shelf.Network also aims to offer one-click auctioning marketplace deployments that can be easily customized and supported. In the future, the network aims to add other asset channels for foreclosure market, collectibles and commodity tradings.
Essentially, the project wants to create a legitimate use case for blockchain technology which goes beyond mere gimmicks and ‘crypto toys’, and the industry definitely needs such developments to facilitate widespread adoption.
You can learn more about the Shelf.Network project on their official website or follow them on Facebook for more updates.
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