Sat, Sep 22, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Pioneering electronics ecommerce firm launches ICO which ends April 15

Monday, April 09, 2018

amb
Yuen Wong
Benedicte Gravrand, Opalesque Geneva:

An innovative second-hand electronics ecommerce based in Hong Kong has started a token sale which ends on 15th April. It has already sold more than 288 million tokens.

Galaxy eSolutions operates across 26 countries with the mission to build a pre-owned / refurbished B2C and B2B ecommerce ecosystem.

The company repairs and cleans pre-owned consumer electronics, then sells them for a discounted rate online. It thus takes part in a greener world by reducing electronics-related waste, and by being part of the circular economy.

This business model is working. Launched in December 2016, Galaxy eSolutions reached almost $2m monthly sales within nine months and reached operational break-even in August 2017. Right now, they ship around 200 phones a day - particularly to developing markets. All the while, the market for refurbished phones is reportedly growing at five times the rate of new phones sales.

Founder and CEO Yuen Wong says his firm also uses blockchain technology to verify each phone and ensure the right products are shipped to the right market. Blockchain is further used to reduce frauds and scams and other problems, as well as document and track each product's movement and refurbishment details. All this is done with each phone's IMEI (International Mobile Equipment Identity). They also use cryptocurrencies or GES tokens for cross-border transa......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. The incredible shrinking hedge fund, For hedge fund stars, being right in 2008 proved to be a curse[more]

    The incredible shrinking hedge fund From Bloomberg: You'd be forgiven for thinking the hedge fund industry might be starting to rebound. Industry assets are at a record $3.2 trillion this year, and a brand-new ?rm just brought in an unprecedented $8 billion. But the reality isn't so rosy.

  2. Investing: Fiat Chrysler attracts more investment from hedge fund manager[more]

    From Autonews: Chase Coleman's Tiger Global Management has invested more than $1 billion in Fiat Chrysler Automobiles after more than doubling its position in the automaker since the end of June. The U.S. fund becomes the fourth biggest investor in the Italian American company. Tiger Global inc

  3. SWF: Saudi Arabia's sovereign wealth fund raises $11bn loan with 15 banks[more]

    From Reuters: Saudi Arabia's sovereign wealth has raised an $11 billion loan from a total of 15 banks, the Maaal financial news website reported on Tuesday, citing unnamed sources. A source with direct knowledge of the matter told Reuters last month that the Public Investment Fund (PIF) will p

  4. Hedge fund billionaire spells out America's worst nightmare, Sir Michael Hintze: Response to global financial crisis elevated populism[more]

    Hedge fund billionaire spells out America's worst nightmare From SMH: Billionaire hedge fund manager Ray Dalio effectively spelled out what doomsday looks like for the US on live television. The founder of Bridgewater Associates predicted the US economy is about two years from a downtur

  5. Lehman's carcass has handed huge profits to distressed funds[more]

    From Bloomberg: It was a bold move: buy at Lehman Brothers's darkest hour. But a decade after Lehman's collapse, a handful of hedge funds that bought up the bank's debt for pennies on the dollar have made even more money than seemed possible. More than $124.6 billion has flowed to Lehman credi