Token Network is an open source eCommerce blockchain that will be using Nuls Chain factory to build our own blockchain solution for ecommerce industry. Token Network is about a 2-year long project that went through various customer validations and refining the need of blockchain in the traditional eCommerce business.
We initially thought of building our own chain from the ground up, however while doing our research and development of the project, we came across Nuls. We immediately decided to switch to this modular blockchain infrastructure as this will enable us to reduce our development and also to push the blockchain to market much earlier than we initially had planned. Since Q1of 2019 we have been working with some of our core team members as well as the wider Nuls community.
Token Network was privileged to be part of Nuls 2.0 Alpha test environment and this gave us the opportunity to be one of the early adopters of the chain factory and we are looking to build out token network blockchain with initial business modules by Q1 of 2020.
Some of the problems token network is solving:
- Counterfeit goods
- Expensive and long payment processes
- Needless middlemen
- Avoidable fees
- Cross-border trading governance streamlined
- Trust and reputation-building
Why token network chooses Nuls?
One of the reasons in selecting Nuls over other platforms was the easy to use mechanism to build a blockchain and to spin off our own custom modules to make the blockchain network suitable for eCommerce business. Secondly, we received a lot of support from the core team of Nuls as well as the wider community of Nuls and thus we continue to build our project using Nuls.