Thu, Apr 26, 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. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its