Distributed Auctioning protocol allowing to run the same auction synchronously on all interconnected marketplaces.
Distributed Auctioning network - for sellers to expand the trades, by listing the inventory and conducting synchronised bidding on multiple marketplaces. Allowing them to save time, bring transparency to trades and get a higher price, within a click of a button.
We are building protocol as a platform that creates two sided network of collateral assets holders (Banks, financial institutions, governments) as sellers and online marketplaces as re-sellers. Currently focused on automotive industry, as there are $150 billion worth of cars are auctioned by (corporate clients: insurances, leasing companies, banks) every year, and its done in a most inefficient way: manually with each marketplace separately, making the entire inventory siloed and acquisition process increasingly hard for a larger audience.
We’ve solved this entire process with increased transparency and eased integration using blockchain and now we are providing solution to the corporate seller.
Over short period of time network is already live in 3 European countries (Lithuania, Ukraine, Georgia) and around 30 auctions are conducted daily. Shelf.Network is a universal auctioning infrastructure and automobiles are only our first asset class and over the course of time we’ll be looking at foreclosures, collectibles and commodity trades.
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