There are several reasons which are the main issues for e-commerce on the chain. Without solving problems, it will be impossible to see a massive commercial activity for the goods and services on the chain.

Satoshi wanted to protect sellers and eliminate the middle man. He thought non-reversible transactions would protect the seller and lower fees. He said buyers could be protected by the routine escrow mechanisms (The Bitcoin Whitepaper, p. 1).

However, the blockchain could not protect buyers; fraudsters exploited and overused technology to scam innocent buyers. In 2020 over $1.8b worth of cryptocurrencies were scammed (Gottsegen, Will, “DeFi ‘Rug Pulls’ Were Crypto’s Top Fraud Scheme in 2020: CipherTrace).

Traditional escrow services on the chain are given by people. It is very primitive and outdated. Cryptocurrency is sent to an escrow address; if escrow dies or loses the secret key of the wallet, there is no way of claiming your crypto assets.

Dispute resolution is not transparent and unclear on what grounds the escrow examines the dispute and brings a solution. It is a duty that should need some legal background. Even though escrow has an opinion, there should be an appeal right to parties as an effective remedy. Dispute resolution should not rely on a single person or a group of person or their viewpoint. It should rely on the principles of modern civil law.

E-commerce relies on trust. And customer satisfaction is key to success (Jeff Bezos, CEO and Founder, Amazon, speaks with Economic Club president David M. Rubenstein on Thursday, September 13, 2018). If you can not protect buyers, there won’t be a massive volume of e-commerce activity where no customer satisfaction exists. For that reason, e-commerce on the chain is still underperforming.

Network stability and gas fees are causing uncertainty. Network fees are not stable and not reliable. It can change at any moment and directly affect small businesses and their services. And network stability is a vital element for a company to operate. You can not schedule maintenance or shut it down for several hours. Business never stops, and it is one of the unique parts of the blockchain.

Regulations are a barrier for sellers. In traditional e-commerce services, necessary information and assistance are provided to sellers to make them sell online. Still, no platform has guidance or assistance for newcomers on the chain.

Key Features of Dela:

Subnet for stable network and fixed gas: Gas prices are fixed. The first come first serve transaction model is adopted. The gas token is a stable token for predictable cost calculation.

Double-layered escrow mechanism: Buying and selling on Dela happen with double confirmation of the parties. The first confirmation is that cryptocurrency and the goods or services symbolized by NFT are deposited at the escrow address. The second confirmation is that cryptocurrency and the goods or services symbolized by NFT are transferred to the other party’s wallet.

Dispute Resolution: Disputes are handled by a Dao, not by a person. All disputes should be examined transparently with an appeal right to decision delivered, and the solution relies on the fundamentals of modern civil law.

Goods and services on the chain: Using NFTs to symbolize goods and services will bring transparency and trust to sellers. In this way, buyers will observe how many sales were made by the seller and how the percentage of them were successful.

Mint Free: To motivate sellers to migrate, minting and listing will be free. It will increase the selection and options for buyers.

Legal Support: Legal aid will be given to buyers and sellers for critical regulatory issues. They will be able to direct their invoices to our company.

Conclusion Dela is the first of its kind, a new marketplace. We trust ourselves, tech, and the blockchain. We will bring e-commerce to the blockchain. We will solve the escrow problem in the Bitcoin Whitepaper.