The next-gen e-commerce marketplace is about restoring the power back to the consumers, to the vendors/merchants/sellers and finally the OEMs. Ultimate mission is to disintermediate central power players who are altering the power equations to their benefit and provide superior shopping experience to the consumers/vendors in various ways.

Why is it a big deal? Check out this article as well. Decentralized E-Commerce to Tokenized Real Estate

How will disintermediation (replacing central players) take place?

The self-governed decentralization network with Decentralized Autonomous Organizations (DAOs) will ensure the governance rules and regulations are set democratically using technology. This DAO will be able to govern a number of key initiatives including but not limited to

1. Who gets to display their product, sell them and how often - shows up in top searches or not
2. How will the advertising mechanisms be setup and sponsorships handled
3. How can the DAO mitigate suppression of smaller players in the realm of medium and large-scale players
4. What fee structure can be imposed for various activities - customer service, insurance, extended warranties etc.
5. How can the algorithms such as recommendation and competitive pricing strategies be regulated
6. Customer resolution policies
7. Remove any hidden fees and surcharges
8. Speedy logistics
9. Eliminating fraudulent transactions on the platform by vetting all players
10. Open and transparent communication channels across players
11. Fines for irregularities and ejection for fraudulent activities
12. Who can be part of DAO

Four Corner Participants

The four players in this arena will be

• Original Equipment Manufacturers (OEM) (Advertisers/Brands/Product Manufacturers)
• Vendors/merchants/suppliers/wholesalers who would like to market the products and eventually sell them
• Customers who like to research the market, historical product price, the customer experience and the quality of the product
• Finally, SimtelAI plays the role of the web3 technology platform provider that enables interaction between the above

Web3 Technology for Marketplace

• Next-Gen UI/UX for both customers and vendors
• User friendly mobile DApps for ultimate Customer Experience
• Advertising data to the marketers of the OEMs
• Binding technology contracts for buying/selling/resale/marketing
• Strong AI-driven privacy to ensure people research products in a safe environment
• Permission-driven marketing to ensure marketers are not intruding into people's lives
• Leveraging OpenAI/llama LLMs for researching products
• Competitive Pricing with ML models
• Automation for shipment deliveries, returns and customer service post delivery
• Focus on customer experience, high quality at lowest price points
• Stablecoins/eRupee connectivity

Consumers Delightful Shopping Experience

• One click product research across the market
• One click buy with myriad of options including BNPL schemes
• Multitude of payments
• Option to choose the shipping vendor
• Post-purchase customer service experience
• All this with complete privacy to the user, no one will ever know your email or phone to bother you with repeated calls

Merchants will be the biggest benefactors

• Branding for merchants or resellers
• Meritocracy for providing superior customer service
• Loyalty benefits for long-term platform usage
• Lowest Transaction fees in the industry due to efficient technology platform
• Support for technology/product taxonomy, sales and analytics
• Transpacrency across the spectrum
• Credible analytics data

OEMs

• Efficiency in marketing / targeting right customers
• D2C players will directly benefit from selling on this platform
• Transparency across the spectrum
• Credible analytics data

You can experience the MVP of the e-commerce marketplace by clicking below, we will shortly follow up by releasing the Vendor Website for onboarding vendors.

• You can register with new credentials and provide any feedback to info@simtel.ai
• Any bugs, please forgive us. This is the first iteration.
• Those who are interested in carrying out market research with the company, please reach out to ravi@simtel.ai
• Those who believe in what we do, join us.

NOTE: Product sales will happen on the website post User Acceptance Testing / Vendor onboarding.

Technology hosted on Azure Microsoft Platform, thanks a ton!

"In god we trust; others must bring data" W. Edwards Deming

Image by Gerd Altmann from Pixabay

Indian Real estate market is about to touch One Trillion USD by 2029 [1]. This market is powered by some excellent federal laws including Real Estate Regulation & Development Act (RERA) introduced in 2016 [2], Rent Control Act 1948 [4] supplemented with Model Tenancy Act 2021 [5]. However, the Indian Real estate market is still crippled with legacy systems, lack of governance, incorrect interpretation of laws and archaic practices that are hard to do away. Fraudsters are having a field day and genuine people often misuse these laws unknowlingly for their benefit due to lack of knowledge in the industry.

There are two key segments that can be broken down from the perspective of interaction

1. Construction and Purchase of Real Estate Property (Builders vs buyers)
2. Property Rentals and Lease (landlords vs tenants)

An important area where this is affecting the real estate industry is the residential and commercial rental property business. Both the landlord and tenants are facing significant challenges while renting the property. There is a huge deficit of Trust, Privacy and Transparency prevalent in the property rental market. The side effects are many and causing business loss and mental trauma to both sides of the aisle.

Cyberfraud Scams​

Unless an identity is verified online and in real, there is no real way to state that the person is the same. Most recently prevalent scam is Identity Theft where fraudsters take on an identity of an affluent propsective tenant/landlord and causing monetory loss who are gullible to these scams online. Landlords/Tenants end up following instructions from these scamsters and make digital payments to the scamsters. Especially, the older generation who are not aware of the digital systems fall prey to them more often.

Lack of Trust​

Neither the tenant is aware that the landlord is the true owner of the property and the property is not mortgaged in any way that can cause hindrance to tenants post signing the lease nor the landlord is aware the prospective tenant is genuine. From the landlord perspective, is the prospective tenant the ideal tenant and is genuinely the person who he/she claims to be?. Can they afford to pay the rent and on time, while maintaining the property in a good condition?. Landlord/Tenant recommendations, income proofs, ownership, affordability are some of the trust factors. For each of these scenarios, we need to establish some trust without infringing on the privacy of the individual. Trust comes from capturing data in the system that is inherently privacy-by-design and having contracts that clearly spell out the dos/donts and execute them objectively.

Lack of Transparency​

What is the current state of the rental market in a specific area, how do you carry out genuine research on what rent to offer in the market? How do you become aware of the legalities within the jurisdiction and follow the legal framework to the T? A smart binding contract that ensures all these are met?

Lack of Privacy​

During the interaction of renting out, data will be exchanged between property owners and tenants. Tenant needs to know that the property owner that he/she is dealing with is the real owner of the property to begin with. (Do you know what I mean? Fraudsters have a way there). Property is not under any kind of encumbrance and legally fully owned by the property owner to give out for rent. On the other hand what is important for landlords? Tenant need to be fully vetted before signing any kind of agreement or lease. Some guidelines are here [6]

Cross-Sell vs Advertising​

It is far better to advertise than to cross-sell. Why is that? Advertising is a form of permission-seeking, non-intrusive way to inform your userbase of the options they will have while they browse your platform. This then becomes affliate marketing, more lucrative than Cross-Sell. It is highly relevant, personalized and catering to their direct needs. We can achieve this with omni-channel targeting across multiple devices.

How can we help you power your platform​

Simtel AI can setup a trust and identity framework in a decentralized manner for running Real Estate businesses

• We bring superior customer experience for both landlords and tenants, in turn they will love your platform and you will see significant uptick in your userbase
• Customer base will become repeat customers for the quality you offer
• Remember that you will be eliminating the fear of renting out your property, this is the bulk of your customers painpoint
• We can power your platform with advertising that is state-of-the-art, novel and connected to key publishers

References​

[1] Mordor Intelligence Research & Advisory. (2023, June).
Real Estate Market in India Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029).
Mordor Intelligence. Retrieved January 5, 2024 Source

[2] Real Estate Regulation and Development Act RERA

[3] A Comprehensive guide to Tenant Verification Process in India source

[4] Rent Control Act 1948 source

[5] The Model Tenancy Act, 2021: Resolution of Tenancy Disputes source

[6] A Comprehensive Guide on Tenant Verification Process in India source

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Welcome to SimtelAI Blogs​

We provide a wealth of information on AI, Identity, Web3, Security that is relevant to digital transformation to the next level.

We aim to solve for a host of issues with Web3 and AI by

• User Centrality - Privacy, Permissioning and Personalization
• Eliminate central players that have bottlenecks to innovation
• Novel ideas to frictionless interactions between two or more parties
• Novel ways to permissioned and consent-driven delivered to users
• Ultimate Customer experience by product design

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