Making ONTOCHAIN practical for eCommerce.
Commerce in a digital world requires affordable marketplaces where sellers and buyers may freely choose the services associated with their business activities and users may find goods, products, information and services that meet their needs and requirements. POC4COMMERCE promotes a digital platform for electronic commerce through blockchain by means of a shared and common semantic tool, namely, semantic web ontology, where a machine interpretable representation of the provided knowledge is retrieved not just by spellings but by meanings. POC4COMMERCE shapes up a novel digital marketplace founded on an a deep ontological characterization of all the stakeholders: the actions they are able to perform, how participants interact, exchange information, take decisions, establish plans, provisions, and obligations, as well as the commercial agents and activities, goods, products, offerings, and services, mainly but not only, related with business and commerce. The ontological core of POC4COMMERCE is built on three layers, one for each key aspect of knowledge and service exchange, with a focus on digital commerce: participants and services, blockchains, and marketplaces. The ontological model promoted by POC4COMMERCE provides unifying glue for any activities carried out on the ONTOCHAIN framework, from commerce to healthcare, from business to education, from tourism to government. Final users have a common and shared means to access and use any type of service, application, and good in a totally transparent and trustworthy manner.
On one hand, POC4COMMERCE contributes, by providing and promoting a novel conception of semantic blockchains, to an innovative business model where individuals and companies cooperate and coordinate, deciding the allocation and utilization of resources, and the subsequent effect on price, demand, and supply, merely upon the basis of personal choices and without the intermediation of profiteers. The absence of price profiteers reinstates the equilibrium of the relation of demand and supply that determines the competitive capability of any organization thus re-establishing their decisional power in setting the price of goods and services. This also leverages decentralized marketplaces that not only directly connect consumers and sellers, but in general put in communication those who have ideas and those who have the means and the economic interest to implement them. Moreover, end users have access to an interconnected and highly customizable marketplace of goods and services where they can track the entire supply chain in the semantic web fashion.
On the other hand, POC4COMMERCE promotes a larger vision of an interconnected and interoperable framework of smart contracts over the blockchain and off-chain services for any type of deployment site, where machine oriented technologies such as the semantic web serve human-centred objectives.
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NGI Project: Ontochain