Merkaxat - Revolutionizing shopping with AI and blockchain

Project Name: Merkaxat
Project Track: Integration
Team Name: Merkaxat Team
Team Member(s): 5
DevPost Project Link: https://devpost.com/software/merkaxat
Project Info: Merkaxat hackathon 2024.pdf (7.4 MB)
Project Website: https://merkaxat.com/hackathon
Project Test Instructions: The app is available on Android and Windows.

You can download the Android version here:
https://merkaxat.com/download/merkaxat.beta.apk

You can use the Windows version here (no installation required)
https://merkaxat-tjxe2.ondigitalocean.app/

When you first start the app, you will need to create your account. It will ask you to confirm your email address by entering a code. Please note that the app is in demo mode - you won’t receive any mail; the code is 1234.

Project Goal

At Merkaxat, our aim is to revolutionize the shopping experience by integrating advanced AI with blockchain technology to connect users directly with stores. Our goal is to simplify purchasing processes, enhance consumer trust through blockchain transparency, and create a seamless, user-friendly shopping environment.

Project Value

Merkaxat not only streamlines shopping but also ensures security and user empowerment through blockchain technology. Users have complete control over their data and transactions, and can enjoy a personalized shopping experience powered by AI.

Project Details

Merkaxat is a comprehensive platform that changes the way people shop:

  • Personal AI Shopper: Understands your preferences to recommend products.
  • Real-Time Communication: Instant messaging feature to connect with stores.
  • Blockchain Payments: Secure transactions with full transparency.
  • Multichannel: You can send audios, photos or videos, for greater convenience
  • Multilanguage: Simultaneous translation so that both parties receive the information in their preferred language.

Innovative Features:

  • AI Recommendations: Tailored suggestions based on your shopping history and preferences.
  • Secure Messaging: Communicate directly with vendors to discuss products and negotiate deals.
  • Blockchain Invoices: Every transaction is recorded on the blockchain, ensuring transparency and security.

Project Milestones

  1. Beta Launch - Chat and local searches Q2 2024
  2. Full Integration of Blockchain Protocol - Q3 2024
    In-app payments with USDT and rewards system
  3. E-commerce inventory - Q1 2025

Smart Contract links

Initially we will be using USDT for transactions.

5 Likes

Please provide your social media handles.

Merkaxat’s vision to integrate AI and blockchain for a personalized and secure shopping experience sounds promising.

  • how will Merkaxat ensure user data privacy on the blockchain while maintaining transaction transparency.

Thank you for your interest in our social media presence! We have been deeply focused on development and currently do not have active social media accounts. As soon as we set up any social media profiles, we will make sure to let you know.

Thank you for recognizing the vision of Merkaxat!

Ensuring user data privacy while maintaining transaction transparency is a key priority for us. We leverage blockchain technology to securely encrypt and store personal data, ensuring that sensitive information is protected.

For transaction transparency, we utilize public ledgers that allow users to verify transactions without compromising their personal data. Additionally, we adhere to strict compliance with data protection regulations to further safeguard user privacy.

Does it answer your question @Okorie ?

Hi!

I have just uploaded our presentation demo to the main post. Hope you like it!!

Updated the main post with images :relieved:

Hey! I’ve been playing around with the web app and it looks very clean and smooth. Great job, and good luck for the Hackathon!

How do you utilize AI to enhance the shopping experience and personalize interactions for users on merkaxat?

Thank you friend!! We have been working on it for a few months already. Still needs some improvements, but current version has already enough features to prove our concept, which is great.

Welcome to Hackathon Season 6, from my read I see Merkaxat aims to revolutionize the shopping experience by integrating AI and blockchain technology. The goal is to simplify purchasing processes, enhance consumer trust through blockchain transparency, and create a seamless shopping environment.

Can you elaborate on how the rewards system will work, and what incentives users will have to participate?

Welcome to the Season, will you be putting new features later on, thank you

Thank you for your question! At Merkaxat, we use AI to enhance the shopping experience by learning from each user interaction. This technology adjusts to understand user preferences and what each merchant can offer, ensuring that the results are increasingly relevant and tailored to each user’s specific needs.

If you have further questions, lmk @Chizz !

Ok. Can you explain the process you employ in connecting users directly with stores?

Thanks for your question!

To clarify, Merkaxat is designed for everyone, not just those familiar with web3. The primary incentive for users is convenience and accuracy. Similar to how people use Google to find products online, Merkaxat helps users quickly locate products in nearby shops.

Users can even contact stores directly via the app, much like using WhatsApp or Telegram, to confirm product availability.

Regarding token incentives, our deflationary model means that if Merkaxat becomes successful, the token supply will decrease, potentially driving up its value. While the app is free for customers, businesses will pay a monthly subscription fee, 30% of which will be used to buy back and burn tokens. Additionally, we plan to introduce advertising in the app, with a portion of this revenue also allocated to token buybacks and burns.

Let me know what you think! If you have any more questions or comments, please feel free to share them with me.

1 Like

Cool use of AI, and I like the chat-oriented UI. Could you tell which blockchain you use as the foundation and what features will be available on-chain? Also, could you explain why you chose the Integration category?

Hi there!

Currently, our focus is on locally testing the app to evaluate the initial results and acceptance.

We’ve chosen Andorra as our test location for several reasons. Primarily, it’s a small country with only about 75,000 residents, but it attracts millions of visitors each year, making it an ideal target for our app as a proof of concept before we consider expanding to other countries.

We already have some established contacts there, so initiating the test should be straightforward in the coming weeks or months.

Thanks for the clarification on Merkaxat’s user base and incentives, it’s promising to hear about the focus on accessibility and convenience for all users.

Regarding the deflationary token model, how do you plan to balance token burning with ensuring a stable ecosystem for businesses and users?

That’s a great question!!

The app is free for any user, to download and explore.

For businesses, we use a subscription model. When they sign up, businesses answer questions about the types of products they sell. Based on a customer’s query, we then display relevant stores and offer the option to start a chat with those that are available.

It’s important to note that these are highly potential clients for the store, as they are nearby and actively looking to purchase products that the store offers. Thus, responding to these queries is as crucial as attending to customers physically present in the store.

1 Like

Thanks for your question @manfred_jr

Actually, users are largely unaware of the blockchain operations, - they will simply enjoy the app’s convenience.

Businesses primarily transact in fiat or stablecoins, so fluctuations in our token’s value won’t impact them.

We plan to use a portion of the revenue (from fiat and stablecoins) to buy back and burn our tokens, helping to sustain the token’s value.

Does that clarify things? If you have any more questions or need further explanation, please let me know!