WeevoCity is a decentralized eco system that is a social urban network for online sales and advertising via smart contracts targeted at the local businesses. Our goal is to build a global network that connects the local businesses (shops, restaurants, accommodation, event ticket sales, bookings, etc. in the area of services and trade), both with people around it and globally.
The WeevoCity eco system is being developed to address several issues:
1. To enable the local busines to offer its products and services to the people around it in an easier and more secure way using the block technology and make it more competitive with the bigger brands that are gaining a growing market share.
2. To better protect the end user from unfair traders and online shopping practices through smart contracts and decentralized guarantee fund.
3. To provide more effective advertising for local businesses by paying only for sales made.
4. To promote the marketing of products and services with the various cryptocurrencies by providing an affordable way for the small businesses to trade them.
The local currency will only be accepted as a means of purchasing a WEE token, the decentralized book will only work with the WEE token.
WeevoCity is a one-of-a-kind decentralized platform for the benefit of the local businesses. The unique thing in this case is that the platform will provide access to the global network even to the smallest merchants, and it is completely free.
We have developed several types of smart contracts that cover almost all aspects of online marketing for local businesses and guarantee the correct execution of transactions. In the event of disputes, we have provided for arbitration and a decentralized guarantee fund to reimburse the client's funds when the trader has been proven guilty.
WEE Ledger will be open source and free to use and will be built on Ethereum VM. Anyone will be able to connect and use the decentralized global database. Smart contracts will manage all transactions and relationships between customers and merchants offering their products and services and, on the other hand, the relationship between merchants (advertisers) and web sites or apps that advertise the product or service.
All transactions between customers and owners of hotels and properties will be made at Wee Ledger and will be in the WEE symbol. Bitcoins, Ethereum and fiat currency will be used as a means to purchase WEE from the WeevoCity market. This will generate liquidity and search for a WEE token.
When the customer orders a product or service for example with their credit card in euro, the market will place the "BUY WEE" order and will buy a WEE token to be used in the smart contract, while an exchange algorithm will place a "SELL WEE" order which is a short position to hedge the open Buy position. Thus, regardless of where the price goes, the final amount in EUR will be the same.
The team behind WeevoCity is a group of software engineers from Bulgaria with a broad experience who have been working on projects for some of the largest software companies in the world.