What are the issues solved by BuyAnyLight while leveraging blockchain, AI, and Smart Contracts?

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Sourcing whether of construction material or lighting products has always been a hectic and cumbersome process. It requires a client (whether a homeowner or a business or even contractor) to look for vendors, ask for quotations, select the best bid, make a prepayment, and then wait to receive the products. All this process is still manual and requires effort and time, which sometimes is the most important when it comes to executing a project. 

In the section below, we discuss some of the main issues faced by buyer s and suppliers within the industry, which is then followed by the solutions offered by BuyAnyLight. 

Problems: 

i). Trust deficiency between buyers and suppliers: This is not 1 or 2 lights, but orders of a fairly large scale for homes or towers or contracts.

ii). Price issues: buyers want to buy cheap while retailers (and manufacturers) want to sell expensive.

iii). Logistic Issues: Traceability is a major concern when it comes to big orders and delays; defected orders is a normal routine within the industry.

iv) Payment issues: Often, payments get stuck with buyers, which causes massive losses for suppliers.

v). The traditional sourcing process is slow and hectic: You need to choose a vendor, make a prepayment, and then wait for weeks if not months for the order to be delivered. In the mean, while all you can do is chase your vendor as you don’t have any traceability of the order.

Solutions by BuyAnyLight:

This changes completely with BuyAnyLight.

Seamless Order Placement:

With the BuyAnyLight platform, you simply submit your requirements by creating a buyer account on https://buyanylight.com. Based on the requirements submitted, the BuyAnyLight platform (Light Finder) AI-based matching engine assesses it and present it to the right manufacturers, who are given an opportunity of trustless, transparent bidding. The most reasonable offer is selected and presented to you, the buyer.

Secured Payments:

Once you have approved, you make the payment, which is held within Smart Contracts (enforceable programmable contracts), which release the amount only once the order has been delivered to you.

Traceable Logistics:

All these activities, right from the manufacturer to the supply chain and then to you are monitored by oracles (datafeeds) and each step is recorded on a blockchain, so traceability  and transparency is added, and you can check it on an explorer. Take for example once an order is processed to a manufacturer, the first step of products being packaged is recorded on blockchain. Next, when they are loaded and shipped, the process is again recorded on a blockchain network. Similarly, all steps within the supply chain process are recorded and are available for the buyer to seen. 

Trustless, Low Cost Transactions Help in Fair Pricing
Furthermore, as all transactions are trustless, so the need for an intermediary such as retailer, supplier, or any sort of middleman is removed entirely, which not only eliminates the trust issues but also reduces the costs significantly, thus helping us offer quality products at far better rates. 

Important Update:

BuyAnyLight platform is currently hosting a Pre-IEO round sale, which will be carried out until 30th of January, 2020. Participants of the token-sale will have the advantage of a 17.5% token discount during the event. We are glad to invite you to join us, click the link to enter our private token sale today!

Connect with us if you have comments, queries and suggestions. Join on Telegram — https://t.me/buyanylight or email us at [email protected]

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