Blockchain For Shopping: SHOP Announces Ethereum-Based Protocol And First Token For Decentralized Shopping

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SHOP uses blockchain technology in an attempt to democratize retail and return the value of data to shoppers and brands.

SHOP announces a new blockchain protocol built to decentralize the retail industry by de-leveraging the grasp that third-party marketplaces have on consumer data. The SHOP protocol returns control to the brands and shoppers who are otherwise disconnected in these environments.

SHOP’s Ethereum-based shopping protocol provides a democratic exchange of brand and shopper data for partners across the retail landscape. At every level, from shoppers to branded manufacturers, users will be an integral part of the democratically governed blockchain-enabled retail data marketplace. Within the SHOP Protocol, shoppers own and dictate the level of access to their personal information given to brands in return for SHOP Tokens, the native cryptocurrency. Brands then have access to valuable personal insights that shoppers knowingly provide.

SHOP reconnects brands to their shoppers by facilitating the exchange of permissioned data that have otherwise been unavailable due to third-party marketplaces centralizing brand and customer data. Shoppers deserve the right to control their data and brands crave a direct relationship with their customers. By utilizing a decentralized ledger, the SHOP Protocol will tokenize the exchange of information based on the needs of the whole democracy.

SHOP's Co-operative structure, influenced by the early cypherpunk movement, builds a laissez-faire economy instead of a centralized corporation. Together, the collaborative community of brands and shoppers participates in the growth, optimization, and success of the platform. Everybody, including shoppers, developers, and CEO John Wantz, gets a single vote in the Co-op’s matters to create equal control of SHOP.

SHOP Co-op’s self-dictated exchange of information will decentralize today’s retail strongholds. By doing so, SHOP will empower shoppers to own their data and re-establish brands’ direct relationships with their customers.

For media inquiries, please contact Megan Chambley at Melrose PR Megan(at)melrosepr(dot)com or call (310) 260-7901.

SHOP is a decentralized blockchain-enabled retail data marketplace that establishes a truly democratized free market commerce landscape. SHOP de-levers the grasp of third party marketplaces by handing shopper’s data back to its rightful owner, re-connecting brands with their customers, and encouraging innovation.

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Megan Chambley
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