ARAW - The Decentralised Payment for E-Commerce Ecosystem

Abstract 
This paper describes a revolutionary combination of the Ethereum Blockchain technology and e-commerce & payment ecosystem. The ARAW token and its unique infrastructure offers e-commerce and service-providing companies to standardise reward programmes as well as expose the regular people to the cryptocurrency economy.

Executive Summary 
Today’s e-commerce industry is growing at a rapid pace and global retail e-commerce sales are expected to reach $4.5 trillion by 2021. For most commercial businesses, cryptocurrency is becoming a preferred mode of transaction highlighted by its current cap of hundreds of billions and expected to rise to trillions. According to research, most of the finance and banking industry is expected to move to the blockchain and hence adoption rate of blockchain across all industries will increase in the coming years.

Market State 
E-Commerce and commercial reward schemes are experiencing massive growth - the global sales via e-commerce in 2014 was 1.3 trillion dollars - expected to double in 2020, and the number of online shoppers is also expected to increase from 1.46 billion to 2 billion by 2020. As a result, e-commerce platforms and existing reward schemes are highly saturated - every individual shop offers their own exclusive points system. Additionally, customer acquisition is a serious problem given the difficulty for service providers to distinguish themselves from the competition. 

The ARAW 
Token Solution The Araw Platform offers a practical solution to the problems outlined above as well as the potential to become the practical heart of e-commerce and cryptocurrency combined. It strives to reward shopping with cryptocurrency by exposing the common person to the ARAW token. 

Market Overview 
Throughout the world the E-commerce industry continues to gain popularity. For each day that passes, the online shopping platform gains more customers and keeps increasing their trade volume. 

In addition, the potential of the retail and e-commerce industry will continue to grow in the future. In 2014, the global sales of e-commerce were about USD 1.33 trillion and are estimated to increase to double this tally in 2020. Accordingly, the corresponding retail sales that come from E-commerce are expected to increase from about 7.4% to 14.6% in 2015 and 2020 respectively. The number of online shoppers is expected to double the rate recorded in 2015 (1.46 billion) by 2020 (over 2 billion), Statista reports.

While preserving data integrity, the Blockchain records all the transactions ensuring that all the transactions carried out on the platform are secure as well as transparent. Furthermore, as well as the charges it will incur, Blockchain technology will also lower the number of intermediaries required to complete any transaction. Consequently, the integration of reward system on the Blockchain using smart contracts will be a significant improvement for the e-commerce industry.

Failure to Adapt the Growth of Cryptocurrency Tokens 
Today, the majority of the merchants do not accept payments made with crypto-tokens. However, a completely new digital asset class is undergoing creation: tokens of these products that are to be built-up on the Ethereum platform. The increase of a new wave of digital assets enhances the manufacturing of a token based digital asset economy. It is estimated that about 10% of the world’s GDP will be created on the blockchain by 2025, leaving merchants with no choice but to be part of the growing blockchain economy

Similarly, the graph below illustrates the growth of Ether’s market cap. Market capitalisation stands at approximately USD 68 billion as of March-2018. It has grown by 3750% since last year!

Below graph shows the continuous growth of Ethereum. We strongly believe that Ethereum founders has created such ecosystem that will continuously raise in the future. With upcoming versions of the Ethereum, transactions are expected to be more cheaper and faster. This is the main reason why ARAW token team has decided to implement E-Commerce & Payment Ecosystem on the Ethereum Blockchain.

The ARAW Token Ecosystem The Araw 
Ecosystem was carefully designed from the beginning as a supportive sphere in which users can be confident in their trades on the Blockchain. To capture a variety of users, we have provided an ecosystem platform that is scalable and effective, yet simple over the Ethereum Blockchain, where customers and brands can interact without restrictions in a dependable, trustless, and mutually beneficial manner. 

Araw Pay
Araw Pay will be an open widget to accept payments in ARAW tokens and can be used by any merchants anywhere online just like any other payment gateway providers. We aim to provide seamless Araw pay solutions in Araw mobile & web wallet, open API platform, and Araw e-commerce marketplace.

Banking System Integration 
With seamless banking system integrated in the Araw Platform, Customers will be able to buy ARAW tokens using linked bank accounts. They will also be able to exchange ARAW tokens with fiat and send cashback to linked accounts.

Araw Mobile Wallet 
The seamless integration of Araw Mobile Wallet with Banking and cryptocurrency Exchanges will enable Araw Platform users to; 
1. Top-up ARAW Tokens with a click of a button 
2. Send and Receive ARAW tokens 
3. Exchange ARAW tokens with any other crypto currencies like ETH and BTC 
4. Exchange ARAW Token with fiat currency and get cashback The ARAW mobile wallet 

continuously connected to Cryptocurrency Exchanges maintains the live exchange rate of the ARAW token and other cryptocurrencies.

Ethereum Blockchain – Proof of Delivery & Service 
The Araw e-marketplace leverages smart contracts to make the process of exchanging goods with ARAW token fast, secure and add trust in the system. It generates secure escrow for two transacting parties. Through this method they are given a money–back guarantee for buyers if the product turns out to be substandard and for the seller, it ensures that the fund for the product they placed on the marketplace is securely transferred to them. 

The distributed ledger system keeps funds secure and prevents any transaction participant from having control over the funds until independent delivery services confirms that product is successfully delivered to the buyer using external oracle. If the buyer is satisfied with the quality of product delivered, the payment is transferred to the seller and the share of payment that is owed to the delivery service will also be transferred. The Ethereum blockchain makes transactions between two individual possible without any need for an intermediary. This in turn reduces the cost of management and business transactions overall.

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PUTRA969695