Our new Disruption by Blockchain series aims to highlight companies that are leveraging the incredible potential of blockchain technology to disrupt and revolutionize their industry. Through one on one interviews, we'll speak directly with industry leaders to cut beyond the hype and get directly to the heart of practical use cases and examples of how it will change the world, one industry at a time.
The following is an interview we recently had with Alexandre Duquenoy, CMO of Origami Network.
1. What’s the history of Origami Network? How and where did you begin?
AD: We launched our first project together in January 2012 and—it was an online marketplace: https://commentseruiner.com. We then launched a software development company, Comptoir du Code in January 2015 in the online commerce area, followed by their first e-commerce website Cute Land.
We decided in the summer of 2016 that we could use, package and sell to other companies the marketplace technology we developed for our own marketplace CommentSeRuiner.com. We started to work on Origami Marketplace at the end of 2016 and launched it in April 2017.
But escrow payment is an expensive area (around 2% to 4% fees + flat fees per transaction), we want to add to our Origami Marketplace technology the possibility to have a blockchain escrow payment with smart contract technology with low fees (around 0.7% to 1% per transaction): This is Origami Payment.
We then wanted to follow those steps and to launch a network of decentralised products on the marketplace stack.
Origami Network is an all-in-one decentralized marketplace platform that solves several existing problems related to online marketplace development and maintenance, escrow payments, and reviews.
2. Who are the founders and key team members?
AD: At the beginning, Vincent, Julien and I, Alexandre are three friends (we know each other since kindergarten), three software engineers.
We are veterans of software engineering banking and trading. We studied in Irlande and France software engineering and worked for a big software firm in the banking and trading area for 5 years before becoming entrepreneurs.
Bruitte Julien, CEO
Duquenoy Alexandre, CMO
Pichon Vincent, CTO
3. What problem are you solving? Who are you solving it for?
AD: Today’s evolving blockchain technology allows companies to run marketplaces (B2C or B2B) for faster and cheaper than ever. But there are still problems with the current atmosphere. For one, the speed and cost by which online marketplaces are developed and run can be improved. Secondly, at this moment in time escrow payments are still very expensive and far from accepting crypto-currency as payments. Lastly, the review process for online marketplaces contain several major flaws that must be addressed before marketplaces can be truly decentralized.
4. What is your solution to this problem?
AD: The Origami Network has a working product and several customers already on board benefitting from its technology. The Origami Network is based on three self-sufficient platforms:
o Origami Marketplace
o Origami Payment, and
o Origami Review.
These complementary platforms can be used in a modularized fashion or together.
The Origami Network is the only Blockchain-Powered global solution that builds decentralized online marketplaces faster and easier than current models allow, while also utilizing blockchain-based escrow payments and improving review systems. The result is faster, easier, cheaper, and more reliable marketplace experiences for both consumer and business owner.
5. Why is your industry ripe for disruption?
AD: Sales on online marketplaces cross $1 trillion in 2016 yet they still have to solve a lot of problem inherent to centralised marketplaces.
The largely unregulated nature of reviews, when combined with their importance to success of a marketplace, makes this area ripe for abuse from both buyers and sellers. Origami Review will solve this major problem with a blockchain-powered review system.
The same goes with escrow payments.
6. What’s the future of your industry?
We think that a new generation of online marketplaces based on blockchain technologies will emerge in the close future and disrupt industries faster than ever.
The blockchain technologies could also become part of existing marketplaces and upgrade them with security and efficiency.