SilkChain proudly refers to itself as the “first project in the world that dedicates blockchain technology to improving international trade and consumer spending ecology.” Prominent trading entities and enterprise groups cosponsor the crowd-funded blockchain platform. E-Dragon is a shopping and payments platform that works with the Silk Wallet (silk chain wallet). After E-Dragon’s launch, users in the Middle East will use the wallet function to purchase, consume, and comment to obtain Silk.
Similarly, E-Dragon users can use Silk to participate in merchandise redemption, prize redemption, and lottery promotion. SilkChain developers estimate that the platform will bring in trillions of dollars in profits in global trade. They also aim to help move international trade from its legacy trading stocks system to digital trading.
SilkChain’s Solutions for International Trade
Many other blockchain projects use their tokens to transact cross border payments. Unfortunately, the token’s value is highly influenced by the digital currency market’s high volatility. Often, an international trade might conclude with a devalued currency, which can bring in losses for traders.
In international trade, factories accept orders with low margins, which can be offset by the fluctuations of the trading currency. SilkChain utilizes blockchain and the Silk Dollar, a stable coin to act as a cross border medium of payment. The SilkChain Foundation’s Silk Token endorses the Silk Dollar, and it protects traders from the currency fluctuations frequent in the trade.
The Silk Dollar can be sourced from a SilkChain certified crypto exchange and can be converted back to the US dollar. Silk Chain stable coin is backed 1 to 1 by the US dollar. With SilkChain’s blockchain, the silk chain project will integrate cross-border supply chain finance, source factory procurement management, de-intermediate advertising marketing, and cross-border e-commerce social services.
E-Dragon; Is the World’s First Ecommerce Dapp
The blockchain project also has the Silk Selection platform, the world’s first blockchain advertising market platform. Additionally, there is Silk C2C, which supports peer-to-peer transactions. SilkAll is the door to the Eco-city of Silk and an operating system for SilkChain ecological applications. On it, the world’s first cross border e-commerce Dapp E-Dragon will be launched.
In order to ensure the smooth operation of E-Dragon after its launch, the silk chain has cooperated with some large wholesale and retail trade centers in the Middle East to organize a number of online and offline promotions jointly. The APP interface interaction, user experience, and other aspects have been tested in all aspects, and repeated iterations and upgrades made.
As an illustration large wholesale mall in Bahrain jointly held a car sweepstakes event, which greatly enhanced the enthusiasm of its customers through online and offline linkages. During the event, the traffic volume of the mall increased by more than two times.
In order to make E-Dragon easy and practical for users in different countries in the Middle East, its wallet will support many local currency currencies such as Bahraini Dinar and USD payments.
With E-Dragon coming online, more and more users will join the silk chain family in the future. Consequently, the ecology of the silk chain will have increased adoption. For the specific launch time of E-Dragon, you can pay attention to the official WeChat account of the silk chain or download Silk All to learn about the latest developments.