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Highlights of Cross-Border E-Commerce AMA Program News & How 7Hit Reaches the World

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On September 28, 5ROI Global organized a live exchange AMA program to help investors and the global community better understand the importance of Cross-Border E-Commerce and How 7Hit Reached Out to the World. Gender. The AMA session was extremely successful and attracted a large number of participants.

Overview of Vietnam’s e-commerce market 

Due to the impact of the global pandemic, the economy has faced many difficulties. In that context, e-commerce and digital transformation are the most mentioned issues by experts. The application of e-commerce and the implementation of e-commerce activities are being interested by many businesses. This is considered one of the inevitable drastic changes that businesses need to consider and keep up with the trend.

Mr. Nguyen Ngoc Dung – Vice Chairman of Vietnam E-commerce Association (VECOM) assessed that e-commerce activities in Vietnam have had great changes. Traditional businesses that have not yet thought of moving to online operations must do it now. They are forced to put their products on major domestic e-commerce platforms such as Tiki, Shopee, Lazada, Sendo,… and approach international trading platforms like Amazon (for retail products). or Alibaba (for wholesale products) to keep up with market trends. Many local products can also be put on the trading floor for cross-border trading and sales.

Mr. Tony Lam – Co-founder & US Shark Tank Winner – Mavens Creamery – also stated that e-commerce is having a strong breakthrough. The backlog of goods at major ports in the US and other countries has proven to be huge in market demand. This is also an opportunity for those who wish to invest in the e-commerce industry to quickly do so. 

In fact, the cross-border commerce model has brought many opportunities and helped “big guys” like Alibaba, Amazon, etc. to succeed.

About 7Hit e-commerce platform 

7Hit is an e-commerce platform applied by blockchain technology with the goal of building a platform to help small businesses find a large market. 7Hit Global is a borderless trading platform, or according to Andy Vuong – CEO of 7Hit – shared: “Borders are just very blurred lines that can and do not affect shipping anywhere. The 7Hit floor model makes a difference when it comes to creating a booth for new business partners or established partners in the mark.

7Hit e-commerce platform is developed on the blockchain platform, so it has many advantages over traditional exchanges. A payment gateway that allows payments in cryptocurrencies. In addition, the exchange also offers programs to accumulate points and exchange or withdraw money in the 7Hit ecosystem. 

At the same time, 7Hit also created a sales associate program to reach potential customers. And now, the floor is also building and applying these toolkits. In addition, 7Hit develops more tools for livestreaming to help businesses sell directly on their platform. This model has been applied and proven in the Chinese market, one of the markets with developed economies in the world.

Advantages and disadvantages of applying blockchain to e-commerce platform 

Blockchain is a technology that is changing the world and can change even more drastically than the Internet. So how does it impact the e-commerce and real estate industries?

Currently, giants in the e-commerce industry like Amazon or eBay are looking for talent in the blockchain field. Major trading floors in the US also began to look for solutions and applications of traditional blockchain technology as well as banking blockchain into their business models. There are many traditional businesses that still do not really believe in the changes that blockchain brings to the banking, real estate industries… However, we must recognize that blockchain has created a new era with changes fast. 

“From my perspective, I firmly believe that in just a few years, the market will change a lot. Companies will have to catch up with the trend if they don’t want to be outdated and left behind,” said Dr. David Tran – Blockchain Professor, University of Massachusetts (USA) during the AMA.

 Dr. also shared more about the benefits of cross-border e-commerce business applying blockchain technology, which are: 

  • Pay 
  • Open up a whole new business model. 
  • Efficient and transparent operation in all stages. 
  • End-user experience increases efficiency.

The breakthrough of e-commerce platform 7Hit

The special feature that 7Hit e-commerce platform brings is the saving of payment costs when paying with crypto. Transaction fees on the floor range from 1.5% to 2%, much more economical than payment fees on other e-commerce platforms such as eBay or Amazon… 

In addition, 7Hit also cooperates with many other blockchain platforms and coin projects to apply many promotions to save payment fees for users.

For some projects that cooperate with 7Hit, the exchange accepts payments with the cryptocurrencies of those projects as a promotion to PR their projects. The ability to pay and promotions up to 50% helps users benefit a lot. For example: You can use OLA to pay for goods at 7Hit and get a 50% discount. E-commerce platform 7Hit also has its own cryptocurrency, HIT token. Through listing and selling on the market, 7Hit will attract a large amount of capital from the community and attract members and investors to participate in the project.

E-commerce platform 7Hit child creates an activity called Crowdfunding. The activity helps users to own the first products from a new idea or project. Many successful and application projects only have preliminary ideas, but they have been able to sell tens of millions of dollars. This gives innovators or businesses with good products but can’t financially or can’t bring the product to market the opportunity to develop their products.

Strategy to bring 7Hit to the world 

7Hit will accompany businesses in countries such as India, Indonesia… They have products but have not had the opportunity to bring them to a larger market and 7Hit will be the e-commerce platform to accompany and support them.

Mr. David Do – Managing Director of 5ROI Global – also commented: “The strategy to bring 7Hit to the world cannot fail to mention the application of blockchain technology to bring Vietnamese products and images to the world community. gender. Then we will have a Crowdfunding channel to call for international crowdfunding when buying goods from Vietnam. During the epidemic situation, many agricultural products of Vietnam have also been sold abroad through e-commerce. This is one of the development directions that we should take advantage of to bring Vietnamese products to the world.”

In the future, 7Hit will be a large exchange with many items from everywhere, including Vietnamese products that are followed and popularized globally. “7Hit does not directly compete with major e-commerce platforms in the world and does not follow their model. The exchange applies the strategy of “guerrilla war” to go deep into its users. In order to understand and promote 7Hit, there are worthy rewards when users share and review products at 7Hit. We will reward tokens to help users get more motivated and create opportunities for them to earn money,” said Andy Vuong.

At the end of the AMA, Andy Vuong affirmed: “7Hit will be a booming e-commerce platform in a short time.” This is also a common view that is widely recognized and 7Hit will become a world-class cross-border trading platform in the future. To achieve this success, it needs the attention and companionship of our members, investors, and global consumers.

>>> See more: Highlights of AMA Program Between 5ROI Global And FAM Central Ecosystem

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