Spl.yt Core Foundation, a Science Blockchain-backed nonprofit operating out of Santa Monica CA, is an open-sourced smart contract-based e-commerce protocol that will support the foundation of a more efficient, transparent, and secure e-commerce system. Spl.yt will help buyers and sellers save time and money by removing middlemen functions and services through decentralizing the e-commerce stack. Spl.yt’s top smart contract capabilities include an automated global inventory system, fractional asset ownership and management, inter- marketplace reputation tracking, fair dispute resolution system, and automated affiliate marketing rewards. All of these features are powered by the blockchain, assuring anyone who buys or sells things online that they will have the most fair and efficient e-commerce experience possible. For more details, please visit https://www.spl.yt/.
Spl.yt is the first smart contract-powered e-commerce protocol designed to automate points of friction in the e-commerce industry -- barriers that have allowed large centralized oligopolistic entities (like Amazon, Walmart, Alibaba, ebay, Walmart, and CJ Affiliate) to capture the legacy market. Spl.yt’s Alpha demo is available to test loading inventory onto its decentralized inventory system and to use its software tokens. A few other blockchain-based projects are developing platforms to address various issues plaguing today’s e-commerce regime, thereby validating the need for solutions, though their centralized business models and failure to contemplate decentralized governance over their products indicates they will never reach the same levels of success truly decentralized projects Bitcoin or Ethereum have. Without evidence of progress and a truly decentralized mission, we do not believe these new projects represent real competition, so Spl.yt’s real competitors are those listed above that reap a lion’s share of the rewards without adding value for buyers, sellers, and other marketplaces.