The demand for self-service retail stores is spreading across Asia. Giant Corporation like the Alibaba Group, Tencent Holdings, and even Walmart, have noticed this growing trend and invested heavily in the emerging market. China, the second largest economy in the world, displays a particular hunger for these retailers. From Shenzhen to Shanghai, unmanned kiosks and vending machines are spreading like wildfire.
About the Company
The RETA Foundation, based in Singapore, seeks to modernize the self-service trend by bringing the market into the blockchain. Due to its massive demand and affinity for cryptocurrencies, China has been identified as the top candidate for this groundbreaking system. The RETA Network is the first platform on the blockchain for the distribution and operation of smart vending machines and kiosks. These low-overhead terminals eliminate the need for employees with artificial intelligence and replace centralized fiat currency with the RETA cryptocurrency.
The goal of this network is not simply to create a single smart retail business but to build a platform that fosters dozens, if not hundreds of businesses. The implementation of these startups on the RETA platform will be built upon the foundation of the RETA currency which can be issued through ICO crowdfunding campaigns.
Next Generation of Unmanned Retailers
The first business to run on this network is known as EzTake. RETA designed this system from the ground up as the first decentralized smart retailer. The goal of EzTake is to disrupt the current retail market and compete with the likes of Alibaba and Amazon. EzTake will operate in two forms, one a vending machine and the other a mini-store, both operating on the blockchain.
The RETA Network’s project aims to capitalize on the immense demand for service-free retailers in China. This market is poised to increase from roughly 500,000 terminals today to 10 million terminals over the next 5 years. During this growth period, RETA will establish 1 million EzTake terminals across China with the goal of seizing a minimum of 10% of the service-free retail market share.
Diversification and Scalability
The detailed Whitepaper lays out the roadmap for rapid expansion. With 1 million operational terminals, EzTake’s annual sales will reach 180 billion Yuan, with 9 billion in net profit. The business will be diversified through advertising; each EzTake terminal will house three screens that run targeted ads based on location 24 hours a day creating an additional 60 billion in profit.
Due to its Al operator and compact size, EzTake is a massively scalable business. The rapid and extensive implementation of these terminals in office buildings, train stations, and other densely populated areas will be fueled by the Chinese population’s hunger for hard-to-get convenience goods. The rapid modernization of China’s bustling cities has left a hole in the market for businesses that can provide widespread and affordable access to foods and essential items.
Projections for the startup estimate that each terminal will incorporate about 200 new users into the network, leading to a total reach of 200 million users. When the Chinese market becomes saturated, RETA plans on expanding into developing Asian economies like Thailand.
The fuel for EzTake and all businesses that operate on the RETA Network is the RETA coin. All terminals will use this cryptocurrency as a payment method. Through transactions and the expansion of the EzTake business as a whole, the coin will appreciate in value, rewarding the individuals who participate in the construction or management of terminals. Once established and stabilized, the RETA coin can be used to build new enterprises within the network.
The coin can be used through the RETA Super Wallet. Secure payments can be made at terminals online, offline, or cross-border. The RETA Foundation is working with retail partners in China to allow for the use of their currency in traditional businesses like malls and convenience stores. Using the Super Wallet, RETA coins can be exchanged for other cryptocurrencies free of charge.
Of the 10 billion coins to be issued, half of them will be distributed to investors and supporters. The 30% of coins to investors in the private placement in China and the overseas public placement, 15% to entrepreneurial teams and strategic partners, and 5% for community promotion and reward.
The other 50%, 5 billion coins, is reserved for mining in the EzTake terminals over the next 20 years. Retail terminal operators and consumers that contribute to the EzTake network can earn RETA coins directly to their Super Wallets through automatic crypto-mining. This long-term distribution is designed as a hedge against inflation, to add stability to the currency, and to reward all who participate in the RETA network.
With a clear disruptive strategy for the Chinese retail market, RETA is ready to build an empire of smart terminals running on the blockchain. Self-service retailers are growing rapidly and many companies are ready to take a share of the market, but none have the benefits of scalability, transparency, and security that come with a cryptocurrency microeconomy.
EzTake’s low overhead means that many entrepreneurs will be able to join the network and operate their own kiosk or vending machine, incentivized by the consumer demand as well as the appreciation of the RETA coin. The RETA foundation is sure to make a massive impact with their ambitious expansion plan across China and all of Asia in the coming years.
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