Italian eRetailer Uses Blockchain for International Trade

Northern Italy-based SANUSLIFE—which sells tap water treatment systems, nutrition supplements and natural cosmetics—is deploying blockchain technology to enhance their customers’ online shopping experience and drive their international expansion. The company has plans to establish a foothold in developing countries with limited access to clean water, and will utilize blockchain to simplify cross-border payments.

SANUSLIFE (SLI), a company based in South Tyrol, Italy, produces treatment systems for drinking water and a series of healthcare products. Founded by Ewald Rieder in 2006, the company began distributing an “innovative” water ionizer produced in South Korea, which had previously become a bestseller in United States.

Later, in collaboration with specialists in water-filtration technology, Rieder went on to design, develop and produce an electric water ionizer, rolling out the first model in 2010. Gradually, the firm expanded its product range to include a mineral flow-through water ionizer, designed as a tabletop pitcher, as well as nutrition supplements and natural alkaline cosmetics.

In 2016, SLI launched five business directions integrated into a single internet platform: SANUSWORLD, SANUSPRODUCTS, SANUSSTORE, SANUSCOMPANIES and SANUSBUSINESS.

SANUSWORLD is an online community where users can earn virtual bonus coins through active participation. SANUSPRODUCTS, the production area, has three core brands: ECAIA (tap water line), ESORI (nutrition supplements) and ANACOS (alkaline natural cosmetics). These brands’ products are available on SANUSSTORE—the online store—and can be purchased in Bitcoin. The company has plans to launch its own token, labelled “SANUSCOIN”. SANUSLIFE has also launched a partner program which allows any company to sell products in the SANUSSTORE after approval by SANUSCOMPANIES. Finally, SANUSBUSINESS is a source of passive income—an affiliate program that rewards individual members for every purchase of SANUSLIFE and SANUSCOMPANIES products made through their recommendation.

SLI is currently developing its own cryptocurrency—SANUSCOIN—which will be used to access the platform and purchase goods. The token was developed by Northern Italy-based company Inbitcoin. The token is designed to be used over the original Bitcoin blockchain, with technology based on the “colored coin” concept.

As explained in the white paper, by following the source of a given Bitcoin, it is possible to “color” a set of coins in order to distinguish them from the rest. The Bitcoin scripting language enables storing small amounts of metadata on the Bitcoin blockchain. It can be used to represent asset manipulation statements such as, for instance, a bitcoin transaction.

To manage SANUSCOINS, Inbitcoin has developed a Bitcoin-compatible wallet, dubbed SANUSWALLET. It has also developed a Bitcoin transaction that allows the transmission of the token from one address to another. The wallet application, available for Android and iOS, offers the storage, management and transactions of two cryptocurrencies, Bitcoin and SANUSCOIN.

In the first quarter of 2019, SANUSCOIN will replace Bitcoin as the means of payment for products on SANUSSTORE, and the company plans to start selling products exclusively for their coins abroad to drive its adoption.

The European company has good prospects for international trade. SANUSLIFE’s products—which focus on water purification, treatment and disinfection—can increase international access to clean drinking water for developing countries that struggle to deliver it to their populations. This is a common problem for countries in Africa, South America and Southeast Asia. Therefore, SLI expects to have a high demand for its goods. Moreover, the company will pay every individual a commission for recommendations that result in a purchase.

Using SANUSCOIN for payments should ease business operations for the company and customers as it does not require creating a bank account. Instead, a customer only needs to register an account on the SANUSWALLET and can then manage and transfer SANUSCOIN. It is also expected that other companies, including those outside of the SANUSLIFE platform will also be able to accept payments in SANUSCOIN using Point-of-sale (POS) devices.

Like the original Bitcoin, SANUSCOIN has a limited supply of units and will be kept in seven different wallets. The storage is unlocked each year on February until 2024 and released in a quantity derived from the proportional conversion of SANUSCREDITS. Once generated, the asset can only be used in transactions.

Before the launch of international trade, SANUSCOIN is conducting the second and last phase of the token exchange campaign from October 1st to December 31st of this year. The company aims to list its tokens on various cryptocurrency exchanges, thus making it a tradable asset. The first listing will take place in the first quarter of 2019 and will place 80 cryptocurrencies, including SANUSCOIN.

Source: www.investing.com

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