ZAKA COIN
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2. Introduction
Daily essential products, such as food, grocery, fruits, vegetables, fish, meat and other eatables are the primary need for every household. Hence many market models including e-commerce portals have evolved to get the daily essential products to reach the consumers until now. Eventually, the daily essential product’s retail market is transformed to ‘delivery app’ format.
The ‘Delivery App’ for food and grocery has become an indispensable tool for modern consumers to offer convenience, safety, accessibility, and also to provide a wide range of products to meet their everyday needs. Certainly, it drives efficiency, innovation, and growth while improving customer experiences and ensuring long-term competitiveness.
3. Need of Food and Grocery Delivery Apps
Consumers now-a-days converting to a digital ecosystem to purchase food and groceries and getting them delivered to their doorsteps rather than visiting the brick-and-mortar store. This shift is creating new opportunities, broadening the grocery business landscapeOnline grocery delivery businesses not only offer doorstep delivery but they also provide items at a discounted price. Therefore, customers not only get to save their time but might also end up saving their money.
Delivery app businesses offer several merits, making them attractive to both consumers and business entrepreneurs. The delivery app businesses offer numerous merits that enhance convenience, accessibility, and customer satisfaction, making them an integral part of modern lifestyles and commerce.
4. Leading Delivery Apps in India
- Zepto
- DunZo
- BigBasket
- Blinkit
- Licious
- FreshToHome
- UberEats
- Swiggy
- Zomato
5. Challenges of delivery app business model
While delivery app businesses have experienced significant growth and success, they also face several limitations and difficulties when it comes to expansion. Some of the current challenges include financial considerations, technology limitations and customer reach issues.
A. Financial Considerations
A huge amount of investment is required to run this business successfully. So this investment is raised by the delivery of market leaders who are currently occupying the market through existing opportunities like angel investors platform, venture capital platform or other financial institutions. But these funding rounds drive the business to change to other hands after some period of time and which in turn divert the purpose of starting such business. The analytical report also strongly highlighted these issues.
The market leaders including Zepto, Dunzo, Blinkit etc raised funds via ‘funding rounds’ from Venture capital, Angel investment platforms and Financial institutions. Eventually, they submitted the projects to potential business giants through ‘acquisition process’ due to various reasons which include business expansion and financial crisis. For example, major portions of shares of DunZo, Blinkit and BigBasket had been acquired by Reliance Digital, Zomato and Tata digital respectively.
B. Technology limitations
Apart from Financial consideration, the Delivery App project faces the constraints of Technology limitations also. Most importantly, to enter into borderless business expansion, mode of payment and digital transformation are the main challenges faced by current businesses. I’m
C. Customer reach issues
But, undoubtedly blockchain technology has started its era of ruling the world at present. In comparison with the previous technologies including IT, the blockchain protocol is far better and appropriate. The characteristics of blockchain such as decentralization, dis-inter mediation, smart contract, distributed ledger, immutability, transparency and security overcome every limitation and constraints of previous technologies.
6. Solution Overview
Blockchain technology with cryptocurrency offers exciting opportunities for delivery app businesses to innovate, optimize operations, and scale globally while addressing challenges related to payments, trust, efficiency, and user experience. By embracing these technologies, delivery app businesses can stay competitive and unlock new growth opportunities in the rapidly evolving digital economy.
A. Decentralized Marketplaces
Blockchain technology paves ways to decentralized marketplaces where buyers and sellers can interact directly without intermediaries.
B. Cross-Border Payments
Cryptocurrency enables fast and low-cost cross-border transactions without the need of traditional banking intermediaries.
C. Financial Inclusion
By accepting cryptocurrencies as payment, delivery app businesses can tap into new markets and reach customers who prefer or rely on digital currencies.
D. Smart Contracts and Blockchain
Delivery app businesses can leverage smart contracts for transparent and automated order processing, tracking, and payment settlements, enhancing efficiency and trust in transactions
E. Cryptocurrency serves dual roles
In some cases, a cryptocurrency may serve dual roles within a business ecosystem. For example, a utility token issued by a blockchain project may function as both a security token, offering investors a stake in the project’s success. On the other hand it acts as a transactional token which enables the users to access and use the project’s services or platform.
F. A solution for Financial considerations
Cryptocurrency is used to fulfill two primary financial needs.
- The first one helps to raise funds to build the infrastructure.
- And it keeps raising funds to promote the project among the targeted customers.
7. An innovative business application
A team of crypto cum business experts from Tamilnadu called Zaka community has initiated a start-up venture which promotes retail market e-commerce. Obviously, it is Webbazar, a delivery app for fastest door delivery of daily essentials to the customers and in addition it has introduced a token to support Webbazar, namely Zaka Coins.
Webbazar, Zaka Coins and DawnFish
A. Webbazar
Webbazar is a Door Delivery oriented Online Marketplace currently operating from Nagercoil. Its object is to deliver the daily essential products such as Grocery, Fruits & Vegetables, Fish & Meat and Food directly to the customer place.
Webbazar belongs to a registered company namely Inventive Retail Traders Private Limited. This company is run by the representatives of Zaka community members and hence the project is called as a community driven project. Though Webbazar proclaims that it works in blockchain technology at present only a few elements of blockchain are integrated with it. However, the task of transforming it into 100 % of blockchain and spreading Webbazar worldwide is going on.
Features
- To make it easy for customers to buy their daily essentials products.
- The mission is the fast door delivery of the products, but free delivery for 3 KM distance.
- To focus on the ‘Ready to Cook’/ ‘Ready to Eat’ pattern.
- To trade only quality regional products and branded products.
Categories
- Groceries
- Fruits & Vegetables
- Meat & Fish
- Food
Legality
- Name : Inventive retail traders private limited
- Regn. No. : U47912TN2024PTC167938
- PAN : AAHCI5490E
- TAN : CHEI11933F
- GST : Under process
- MSME : UDYAM-TN-9-0061429
- Bankers : AXIS
High-lights
Webbazar follows an unique model of business that consists of Vendors and Zaka ecosystem. The vendors are required to invest in the ‘cloud-stores’ of the particular region by buying or staking Zaka Coins. Moreover we reiterate that the vendor’s role and responsibilities resembles the franchise model.
Note: Webbazar assures that it is to solve all of the above-mentioned issues and expand the delivery app industry globally. Of course, the solution for the constraints of the Delivery App business is the ‘business model’ of Webbazar. Its technical features nullify all the issues and also creates a new trend for shopping culture.
B. Zaka Coins
In the same way, 63 of our community members contributed to initiate Webbazar by investing 12.56% in Zaka coins. Hence DawnFish, the first vendor to sell fresh marine fish to the customers of Nagercoil has emerged. Simultaneously a basic infrastructure for Webbazar also constituted to expand the project to whole Kanyakumari district.
Webbazar utilizes Zaka Coins for ‘financial staking and investment’ and hence it keeps away all other financial platforms and plans to meet its every expense including discount offers. On the other hand, Zaka Coins function as one of the modes of payment in Webbazar delivery business.
Zaka Coins was made on the Binance network as a token for transaction and stake value. Though it is made as a ‘store of value’ for the staking investors and other buyers, the second prime role of Zaka is a ‘transaction tool’ for Webbazar Delivery app.
Coin details
Coin name : ZAKA
Coin Symbol : ZKA
Platform : Binance blockchain
Network : BEP-20
Max. Total supply : 100 Crore
Decimals : 18
Issuance : PoS consensus mechanism
Contract Address : 0xea4d17F4ae81F15e0dBbf055E065fD4AE0ca503E
Coin Distribution
Community Members (Part-I) : 12.50 %
Marketing Expenses (Part-I) : 2.50 %
Partners & Ecosystem : 20.00 %
Community members (Part-II) : 26.50 %
Marketing Expenses (Part-II) : 3.50 %
Public sale : 35.00 %
C. DawnFish
DawnFish is one of the vendors of Webbazar placed under the category of Fish. DawnFish is the first vendor of Webbazar. Correspondingly, Webbazar plans to establish DawnFish as an improvised pattern of fish sale. For instance,it focuses on the quality of the fish it sells firstly; secondly, it pays higher preference to the ‘hygienic environments’ wherever the fish are handled; thirdly, DawnFish concentrates on satisfying the every expectation of its elite customer base.
The Kanyakumari district people are fond of sea fishes. Naturally, here we have a big market for sea fishes and on the other hand a huge vacuum for authentic fishes. In order to fill the gap, DawnFish has emerged as a pilot project of Webbazar. However, the project begins from Nagercoil and will be soon extended to the whole district and then to the whole state.
Core values of DawnFish
- Sale of high quality sea fish
- Sale of Fresh Fish
- Free Door Delivery
- Cleaned & Deveined for free
Legality
- Name : DawnFish Enterprises ( Category – Fish )
- Firm Regn. No. : FR/Kanyakumari/57/2023
- MSME : UDYAM-TN-09-0057984
- PAN : AAWFD1120G
- Fssai : 12424009000079
- Bankers : IDBI (A/C – 1903102000009805) IOB (A/C – 186502000000225)
8. Business Model of Webbazar
Webbazar does not follow the conventional delivery app culture of integrating other stores on a contractual basis. Instead, it follows the method of setting-up and managing its own warehouses to procure, store and sell the specific five types of merchandise and deliver them immediately to the customers who order.
Hence it demands a basic infrastructure which consists of the following process components.
- Product Warehouses : Setting up required warehouses at suitable distances.
- Door delivery System : Creating the necessary system for immediate door delivery of goods.
- Cost structure : Creating a seamless economy for the above needs.
Note : a) Centralized product procurement & Conveyance, b) Staff management & Admin, c) IT & App maintenance, d) Digital marketing & Business promotion and e) Coin Marketing & Sales are the other departments needed to back the above major departments.
Most importantly, two types of ecosystems are created here to execute the above said tasks, viz
A. Zaka Community Members
B. Partner ecosystem
A. Zaka Community Members
Here referred to as Zaka Community Members are those who buy or stake in Zaka Coins. Members of this community range from initial buyers to current buyers and prospective buyers. Zaka Coins were created based on POS (Proof of Stake). So everyone knows that only those who do Stake are the real owners and beneficiaries of this industry and Zaka. That is why this business is called a Community Driven Project.
Stakeholders Vs Store Vendors
In total, 63 stakeholders formed the Zaka community and initiated Webbazar and DawnFish. As a matter of fact, 15% out of 100 crore coins are with the stakeholders and the agents who promoted the coins. Unquestionably, the primary stakeholders who hold a major portion of coins are called ‘whales’ and they might reap more benefits.
The next campaign is started now to develop the businesses of Webbazar Delivery App and Cloud Store for daily essential products. Most importantly those who invest for the cloud stores are given preferences and more reward tokens. Especially, those who invest and buy worth of rupees 5,00,000 Zaka coins and above can own a cloud store and earn rewards in addition. Generally they are called “Vendors”. 26.5% coins of total supply is allocated to vendors and by this the venture would be spread globally, assumed. By all means it is according to tokenomics.
The coins allocated to the vendors might be under ‘staking’ for only 6 months, but it receives dividends for the 6 months term at the rate of 18% p/a. Specifically, they are entitled to get rewards tokens according to the profit made out of their respective stores after the staking period. Surprisingly, it is forever.
Vendor staking value
- Fruits & Vegetables – Rs. 5,00,000
- Fish – Rs. 5,00,000
- Chicken & Meat – Rs. 5,00,000
- Food – Rs. 10,00,000
- Grocery – Rs. 15,00,000
B. Partner ecosystem
Few of the community members get involved in the business vested behind the coin; in our case the business is Webbazar, the delivery app and cloud store of various daily essential products. Similarly, few stakeholders and few administrators unitedly form a team to manage the business. Such a team is called the ‘Partner ecosystem’. Furthermore, these team members get reward coins towards their task and effort continuously, which is mentioned in tokenomics.
The directors of Inventive Retail Traders Private Limited, Partners of DawnFish Enterprises, Marketing agents those who connect vendors, the vendors those who indulge in business and top officials (Admin, Managerial, Operational and Marketing officials) are basic members of the ‘partner ecosystem’. Obviously, they are rewarded with 20% of total coin supply according to execution and productivity put through.
The marketing executives who connect vendors worth of Rs.25,00,000 are considered as Franchisee for a region which consists of all the five categories and can get profit share as like vendors.
9. The path traversed and Current scenario
Before forecasting the road map of Zaka’s journey, Webbazar would like to reveal its path traversed and current scenario.
The path traversed
- The journey started in April 2022 with a very few initially but enlarged as a community between May 2022 and August 2022 with 63 community members.
- The first vendor of Webbazar, namely DawnFish was conceived in the month September 2022 and launched in October 2022.
- DawnFish, the Fish partner of Webbazar was officially launched on 24 Feb 2023 at Asaripallam, Nagercoil. (Vendor- Mr. P. Bensigar)
- Webbazar App (Customer) and Webbazar DeliveryApp were officially launched on 09th April 2024.
- Chik-Chik, the second vendor and Chicken & Meat partner of Webbazar was launched on 28th April 2024 at Asaripallam. (Vendor- Mr. C. Mahesh)
Current scenario
The under-given figure shows the turnover of the DawnFish category.
- Customer Base : 5000+ (at Nagercoil)
- Daily Turn over : Rs. 20,000 – 35000 / day
- Sales Count : 45-60 per day
- Profit status : Rs 4000 – 8000 (Gross)
- Investment : Rs. 50,00,000/- (Appx.)
- Break Even Point : Not yet reached
The particulars given under are the infrastructure we constructed so far.
a. Staff deployment
- Delivery agents : 4 – Male
- Back-end staff : 2 – Female
- Dispatch : 2 – (Male-1, Female-1)
- App maintenance : 2 – (Male-1, Female-1)
- Fish Cleaning : 1 – Female
- Fish Cutting : 3 – Male
- Fish procurement : 2 – Male
b. Online applications
- Website – webbazar.in, bizaka.in
- Customer App – Webbazar @Google play store
- Delivery Agent App – Webbazar Delivery @Google play store
c. Technical team (Out-sourcing)
- SEO & DM – Artic9, Nagercoil.
- Web & App Maintenance – Neolysi, Chennai.
- Zaka Management – Mr.Prabakaran, Neolysi
10. Road Map
I. Quadrant – April to June 2024
Webbazar Business
- Launch : Webbazar App
- Sales Target : DawnFish – Rs. 1,00,000/ day in Nagercoil
- Vendor Listing : Chicken, Fruits & Vegetables, Grocery & Food @ Nagercoil
- App Installation : 5000 (Nagercoil)
Zaka Coins
- DEX Listing of Zaka Coins
- Zaka to be added in Webbazar’s payment mode
II. Quadrant – July to September 2024
Webbazar Business
- Webbazar Expansion : 2 more franchise in Kanyakumari District
- App Installation : 20,000 (Kanyakumari)
- Daily Turnover : 10 Lakh per day in Nagercoil
- Total Turnover : 20 Lakh
Zaka Coins
- Listing of Zaka Coins in a leading exchange (Wazirx or Giottus)
III. Quadrant – October to December 2024
- Webbazar Expansion : 2 more franchise in Kanyakumari District
- App Installation : 50,000 (Kanyakumari)
- Daily Turnover : 20 Lakh per day in Nagercoil
- Total Turnover : 50 Lakh
11. Team
- Nadesan. A – Creative Head, Webbazar
- Bensigar. P – Procurement Head (Director, Inventive Retail Traders Pvt Ltd)
- Prabakar. K – Technical Head (Neolysi Technologies Private Limited, Chennai)
- Nishwin. L – Social Media promotion (Artic9, Nagercoil)
- Xavier. P – DawnFish, Project Head
- Mrs.Gladys.S – Franchisee, Nagercoil Franchise
- Kannan. G – Website maintenance
- Mahesh. K – Chik-Chik, Vendor
- Selvan. V – Kitchen partner (Chef, Batter’N’Chef)
- Silvestar – Marketing Head
- Ramya M – Accounts & Inventory i/c
- Saravanan – Delivery Management -Head
- Ambili R – Customer care i/c
- Saleem N – Franchise Head
12. Conclusion
Technology always rules the world and it introduces new cultures and trends to the business world. Simillarly, new ideas and concepts get an incredible response from the customer segments . Here we see a new technology, new currency and a new business idea have merged to introduce a decentralized business venture called Webbazar. Subsequently, a new global economy, a new funding capital for start-up businesses and a new way for entrepreneurship are introduced through this venture and Zaka Coins. With this innovative venture we proudly declare that a new era is emerged in the shopping industry for both the customers and entrepreneurs.