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EkkBaz (EKK) ICO Review – ICO Token News

About EkkBaz

At EkkBaz, we strongly emphasize the Lean Startup methodology, which drives all aspects of our business. For the uninitiated, the Lean Startup methodology is a practice for developing products and business based on “validated learning”, which means getting customer feedback quickly and often. The first version of the EkkBaz Business mobile app, which was released in July 2017, was built in stealth mode. As per the Lean Startup methodology, we ran closed pilots with select manufacturers and grocery stores to quickly gather and iterate on feedback, which allowed us to further enhance the app. In a short period of time, without much sales and marketing activities, and while still in stealth mode, more than 25 manufacturers across Singapore and Bangladesh have shown interest in joining the platform. These manufacturers are now in various stages of the pipeline to join the current platform, and we have acquired hundreds of stores during the pilot. Below are some of the early adopters that are piloting the EkkBaz platform and shaping the future of FMCG B2B collaboration around booking and ordering.

Led by Enam and backed by a team of established advisors, EkkBaz team has all the prerequisites to perform the ambitious task of bringing innovation to these small businesses and facilitating the transformation the FMCG industry based on our practical industry experience, deep technical knowledge and already proven adoption of the current solution in countries where we are operating. We are everaging the best minds from the technology and industry fields to transform small businesses and the industry as a whole by connecting and empowering grocery store owners around the world.

EkkBaz Platform

The EkkBaz platform will become the first global, decentralized and intelligent direct-to-store engagement platform where store owners and manufacturers can collaborate, buy goods in bulk, and enjoy transparent prices for a wide array of FMCG products. Manufacturers can also rent store space for physical in-store promotions at grocery stores and provide loyalty rewards to grocery store owners directly. All orders, bookings and rewards transactions on the platform will eventually be powered by EKK in BAZ Protocol.

Current EkkBaz Business Mobile App

EkkBaz has developed a solution that will ease the daily operations of those in the FMCG industries through a mobile application. This mobile application is called EkkBaz Business and it is currently available in both the Android Play Store and the iOS App Store. EkkBaz Business is already being piloted by selected manufacturers and grocery stores in Bangladesh and Singapore. The app was developed with business hierarchies mind, implementing role-based access controls for Administrators, Managers and Staff to allow for business privacy.

Order

Grocery stores can place direct orders for products with the manufacturers and distributors of the products, or with the assistance of field forces. All stakeholders (such as sales representatives, retailers, managers, etc.) associated with daily orders are kept up to date on operations in real time. This is achieved through SMS and push notifications. This allows managers to actively and conveniently monitor order activities at any time. The respective business inventories are also automatically updated in line with order operations.

Booking

Grocery stores often have open spaces or empty shelves but due to the lack of proper communication channels with the manufacturers, they are unable to inform them about these available spaces. If a manufacturer wants a new brand or product to reach consumers, they need to reach out to each retailer individually. EkkBaz Business bridges the gap between manufacturers and grocery stores and facilitates product showcasing through Booking. With this feature, small grocery stores can earn extra revenue by listing their store spaces and manufacturers gain access to more opportunities to advertise and reach untapped physical stores based on location.

Analytics & Forecast

EkkBaz Business provides analytics based on the businesses’ transactions and forecasts demand to help optimize the demand for the businesses. By analyzing data based on different times (daily, monthly, yearly) and different dimensions (product, location), businesses can accurately estimate the market demand and market size. This will assist store owners with making strategic business decisions.

BAZ Protocol

The EkkBaz platform is designed as a very high-load system. The market potential for the EkkBaz platform consists of millions of users. The focus is on performance; we will prioritize predictability, stability, and easy-to-use technologies in the building of the platform. We plan to use the most proven and scalable open-source technologies, and we will constantly monitor alternative technical implementations. To support the needs of the EkkBaz platform, BAZ Protocol will be designed by utilizing best-in-class blockchain technologies available, artificial intelligence, social and collaborative technologies, as below, for maximum performance and scalability.

EKK Token

During the EkkBaz ICO, EkkBaz will be offering ERC20-based EKK Tokens for the project on the Ethereum platform for crowd sale. For the purposes of liquidity, we will be issuing the EKK Token that is pegged in a 1-to-1 ratio of the EKK in BAZ Protocol. By making use of hashed time-locked contracts against a central reserve wallet, we will ensure that the exchange of EKK across blockchains is an atomic operation. Additionally, after BAZ Protocol is ready, we will do a 1-to-1 atomic swap from EKK Token to EKK and incentivize more businesses to adopt EKK. The EKK Token is fractionally divisible, transferable and fungible. The token balances and transfers will be tracked by EkkBaz. In the case of any force majeure, such as a large token theft, contract compromise, or a disrupting change of Ethereum protocol, EkkBaz may opt to freeze token transfers and issue a new token contract with balances replacing that of the original token registry by a certain date. In the case of an Ethereum fork, EkkBaz will properly announce which branch it will support. To know current trend of ICOs, you can check ICO stats.

Team

  • Enam Chowdhury
    Enam Chowdhury
    Enam Chowdhury
    Founder, CEO, CTO
  • Zobaida Sultana
    Zobaida Sultana
    Zobaida Sultana
    Managing Director, Bangladesh
  • Shariar Mhaboob
    Shariar Mhaboob
    Shariar Mhaboob
    COO, Bangladesh
  • Shivasangarry Raju
    Shivasangarry Raju
    Shivasangarry Raju
    Singapore Business Development
  • Osman Goni Nahid
    Osman Goni Nahid
    Osman Goni Nahid
    Lead Software Engineer
  • Saiful Bashar
    Saiful Bashar
    Saiful Bashar
    Software Engineer
  • Sabbir Ahmed
    Sabbir Ahmed
    Sabbir Ahmed
    Software Engineer
  • Abdullah Al Mosabbir
    Abdullah Al Mosabbir
    Abdullah Al Mosabbir
    Software Engineer
  • Perry Lim
    Perry Lim
    Perry Lim
    Business Advisor

  • Viju Chakarapany
    Viju Chakarapany
    Viju Chakarapany
    Business Advisor
  • Nizam Ismail
    Nizam Ismail
    Nizam Ismail
    Legal Advisor
  • Leonard Tan
    Leonard Tan
    Leonard Tan
    Blockchain Advisor

Milestones

  • 1
    Q1 2017
    EkkBaz conceptualization and team formation in stealth mode.
  • 2
    Q2 2017
    Ordering mobile app released in Google Play Store and Apple App Store.
  • 3
    Q3 2017
    Booking feature released to mobile app.
  • 4
    Q4 2017
    Piloting with manufacturers and grocery stores for feedback.
    Chat module released.
  • 5
    Q1 2018
    Analytics & Forecasting module released based on feedback.
    Announcement for Token Offering using ICO.

  • 6
    Q2 2018
    ICO Token Sale & Distribution.
  • 7
    Q3 2018
    General availability in Bangladesh & Singapore.
    Release of BAZ Store and EkkBaz Business web app.
  • 8
    Q4 2018
    Release of in-market fiat payment support.
    Expand to Malaysia and select states in India.
  • 9
    Q1 2019
    Release of blockchain privatized network alpha.
  • 10
    Q2 2019
    Release of blockchain privatized network beta.
    Expand to Indonesia.
  • 11
    Q3 2019
    Release of blockchain identity alpha.
  • 12
    Q4 2019
    Release of blockchain identity beta.
    Release of TestNet
    Release of blockchain smart contract alpha.
  • 13
    Q1 2020
    Release of blockchain smart contract beta.
    Release of BAZ Brain alpha.
    Expand to Thailand.
  • 14
    Q2 2020
    Release of BAZ Brain beta.
    Expand to Vietnam.
  • 15
    Q3 2020
    Release of BAZ Protocol beta.
    Expand to Philippines.
  • 16
    Q4 2020
    General availability of BAZ Protocol.
    Expand to Australia and New Zealand.
  • 17
    2021
    Growing the platform and further expansion to more countries in Asia, Africa and Latin America.

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