Daniel Dabek about Safex World Marketplace

We are reporting on the Safex Marketplace presentation. We made a full transcript of Daniel Dabek's speech.

Daniel Dabek about Safex World Marketplace

Introduction


''We have come a long way. In the year 2009. we were graced with the emergence of Bitcoin. By 2015, Ethereum launched, and it showed us the possibilities of blockchain technology, and today the whole crypto market has exceeded one trillion dollars of market capitalization.

Now, imagine this for a moment. Imagine the simplicity of Bitcoin, sending and receiving money, as simple as a text message. Imagine the security and privacy of Monero. And now imagine an innovation that would even make Ethereum shine. These are the attributes that I attribute to Safex - an eCommerce platform decentralized into the blockchain. Now, anyone in the world can buy and sell goods and services, earning cryptocurrency in the process. The Safex Blockchain has paved the way for us to see what is now known as The World Marketplace. This is the first wallet that uses the Safex Blockchain that enables this peer-to-peer mechanism. Through a simple user interface anyone in the world could plug in some Safex coins and start selling products globally, to anyone in the world. And the common payment method is Safe Cash. Some of the products that we have already sold are leather handbags, glass cups, that are commemorative and limited in creation, and leather wallets, some of which are here in this room today.''

Safex makes a difference

''Unlike Amazon, unlike Shopify, and unlike eBay, in the case with Safex, all the data is exclusively encrypted between the buyer and the seller. The payment is private as well. Despite being a blockchain, blockchains are transparent and public, the Safex privacy features protect buyers from sellers and discovering plainly the true balance of the person who is making a purchase. And this is unlike Bitcoin, and most of the coins in the market. They do not have privacy, so they can see your entire balance. Safex does charge a platform fee similar to Amazon. However, it is substantially lower, it is 5%, whereas competitors will charge 15 percent or more.

Now about the coins: Safex is organized around two coins, the Safex Cash and the Safex Token.

Safex Cash

Safex Cash is introduced to the world through mining, similar to Bitcoin and Ethereum. However, a currency's value depends upon how far it can reach. Safex Cash is obtainable realistically on your own ordinary home computers. You do not need specialized hardware to earn Safex Cash. Unlike most of the cryptocurrencies, most of the currency that is obtained through Proof-of-Work mining has already been mined by the earliest participants.''

The History of Safex Cash

''It started mining in 2018. And today, there are roughly 90 million coins that are mined. On top of that, there is another 910 million that are left to be turned over the next 17 years. Now, the novel innovation in the Safex Cash mining is this one: the S curve distribution system. This enables an incredibly unique aspect of Safex. It allows for a most distributed pattern of money to be introduced to the people. Since all of the cryptocurrency is not distributed at the start of the on set of the Safex Network, we know that it takes time for people to learn about a project and discover it and then research it and then decide that they want to use it. So, most cryptocurrencies have mining coins that are already obtained, and so in Safex, we distribute more coins later in the years as people with the discover it, so that people have a level playing field for obtaining those coins through Proof-of-Work mining. And on top of that, the way to obtain them is through your home computer, and that is completely novel. So, you do not have to compete with massive and sophisticated mining operations.

Further, Safex Cash is the only payment method accepted on the Safex Blockchain in the Marketplace system, and it is also used to pay for fees when you want to list the product for sale - you must pay a small data fee. Just like on Ethereum, you must pay the gas fee. However, on Safex, you use Safex Cash to list products and to be able to buy them. Remember, Safe Cash is private, Ethereum is not. So then, as mentioned before, merchants can list products super cheaply because Safex Cash is extremely easy to obtain and easy to use tools are products. On the other hand, if you use eBay, for example, you would spend whole dollars, potentially tens of dollars to list the product.

On Safex, it costs fractions of a cent, you might wonder why? That is because Safex is a blockchain. It is decentralized. Therefore, the cost to operate the Safex Blockchain, the Safex network is upon of all of anyone who wants to download the software and run it, which is unlike any of our centralized counterparts. So, all these attributes create an open and inclusive landscape for people all over the world, for currency to be spent for our future ahead.''

Safex Token

''The Token, is needed to register an account. So, if you want to sell a product on the Safe Blockchain, you will need Safex Tokens - 1,000 of them, exactly. And these Tokens, when you use them to create an account, you do not spend them. You lock them up for 30 days, and then you get them back. The reason why we do this is so that people can not make unlimited numbers of accounts. Once you have made that account, you can start selling immediately under that username.

The history of the Safex Token

The Safe Token was launched in 2015. among one of the first cryptocurrencies to ever be launched on this earth. During that time, they lived on the Bitcoin blockchain, and they were called Safe Exchange Coins. I had auctioned 99% of all the coins for 150 Bitcoins in the year 2015. So, when the Safex Blockchain launched, and the Proof-of-Work mining started with Safex Cash, all the Safe Exchange Coins that lived on the Bitcoin blockchain were converted 1:1 for the Safe Token on the Safe Blockchain. An additional feature of Safe Token is that... remember that 5% fee that we charge on the platform? So where does that 5% fee go?  - That 5% fee gets shared by all the token holders. ''

Safex Blockchain and Marketplace

''Safex is a project that I originated, and it is a public good, just like a local watering well would be. You can go and gather water and use water for what you will. So that is why the project must have been in the hands of all the people. And so now imagine a world where real-world sales are happening on this Blockchain on this Marketplace, 5% is taken, and it does not go to a corporation. It goes to all the Token holders. This is like Decentralized Finance.

So, there it is. Safex Token: you register your sales account, you hold it, you earn it, it earns for you. And Safe Cash: you pay with it, you mine it, and you earn it from selling products. So then, it is an eCommerce platform and who drives an eCommerce platform? Merchants. So, Merchants get the benefits and let them pass that on to their customers.

Safex grants merchants benefit that no other platform on the earth can give. There are no chargebacks. Money arrives on your wallet immediately. So, you no longer have to wait for a third party to cash your coins out for you. You have them immediately as soon as someone buys something from you, those coins go right directly into your wallet, and then since listing products is so cheap compared to eBay, you might spend dollars, on Safex you will list a product for just fractions of a cent. So, you can start listing many more products, and you could test out different kinds of things that see if people would buy them. Then the fact that you get money directly after the sale, you can go and purchase your inventory. You could go buy more stuff and start selling. And you make more money much faster. This is unlike most people who are waiting, two, three, four weeks on Amazon or on eBay to get paid. Maybe PayPal will freeze your account in the process...

Safex blockchain and the Marketplace has been rigorously tested for more than 365 days. We went through dozens and dozens of live tests with a huge beta testing community. During all the last year, we are very focused through covid to just not do anything, except code a lot, and do a lot of work. There are so many people who wanted to see this happen, and they were so happy to participate in it, and without them, it would not be possible. So, thank you, everybody, who helped to make this occur, and thank you all for being here.''