Uquid Black Friday 1st AMA Recap: The Role of Blockchain in Enhancing Security, Trust, and Convenience in Web3 Shopping

14 min readNov 13, 2023

We recently had the fantastic opportunity to conduct an engaging AMA session in collaboration with esteemed partners from KyberSwap, HIVE, Nabox, and Magic Square.

The session, centered on “The Role of Blockchain in Enhancing Security, Trust, and Convenience in Web3 Shopping,” was a resounding success, thanks to the insightful contributions from our partners and the enthusiastic participation of our community. A special shoutout to everyone who tuned in and actively engaged in the discussion!

Uquid Black Friday 1st AMA Recap: The Role of Blockchain in Enhancing Security, Trust, and Convenience in Web3 Shopping

Here’s a quick overview of the key themes and insights:

  • Session Introduction: Hosted by Hana from Uquid, the AMA opened with an overview of how blockchain technology is revolutionizing online shopping and Uquid’s significant role in this transformation.
  • Insights from Industry Experts: The panel featured insights from leaders at KyberSwap, HIVE, Nabox, and Magic Square, each contributing their unique perspective on blockchain’s impact in Web3 commerce.
  • Emphasis on Blockchain Advantages: Central to the discussion was how blockchain tech enhances the shopping experience, focusing on aspects like security, trust, and ease of use.

In-Depth Discussions with Guest Speakers

  • KyberSwap’s Role: The team from KyberSwap discussed their innovative multichain integration and its benefits for online shoppers.
  • Decentralization through HIVE: HIVE’s representative highlighted how their decentralized approach is reshaping community-centric e-commerce.
  • Nabox on Security: Nabox delved into the critical importance of security in online transactions and their solutions for safeguarding assets.
  • Engaging Users with Magic Square: Magic Square shared their strategies for improving user experience in the Web3 landscape.

Interactive Q&A Highlights

  • Curated Questions: Topics like the role of DeFi in e-commerce and the advantages of DEX platforms were explored.
  • Live Audience Engagement: Participants eagerly inquired about joining Uquid’s Black Friday event, voucher collection strategies, and more.

Concluding Thoughts and Next Steps

  • Event Summary: The AMA wrapped up with reminders about Uquid’s upcoming Black Friday and Cyber Monday promotions, urging the audience to take advantage of the exclusive offers.
  • Parting Words from Speakers: The session concluded with heartfelt thanks from the speakers, emphasizing the importance of community engagement and promising more enriching interactions in the future.

For those who have missed the AMA, no worries, here’s the full look back at what happened.

The Role of Blockchain in Enhancing Security, Trust, and Convenience in Web3 Shopping

Part 1: Introduction

Hana (Uquid): Hey, welcome to this special AMA. I’m Hana — Marketing Team Lead at Uquid. Today, I’m sure that we will have a comprehensive AMA with great info where we’re getting up close and personal with some of our partners.

So, get ready for some inside info on how Blockchain is changing the game in Web3 Shopping, and how these cool projects are making crypto shopping more exciting than ever.

Make sure you stick around till the end of this AMA. Why? Because you could be the lucky ones to snag some 30% discount vouchers for your awesome questions.

Here’s another piece of good news for all users participating in today’s AMA. Just leave your email in the Comment box and stay until the end of the AMA, and you will receive a 10% discount code, using during Black Friday event. We also randomly choose 20 users to reward one USD Mobile Legends Game Card . So, don’t miss it!

Hana: And more about Uquid, I could say Uquid is the leading smart shopping platform on Web3 with over 160 million physical and digital and also NFT products with exclusive deals from verified merchants and DeFi to payment features that aim to bring the best shop-to-earn experience for users in cryptocurrency.

Alright, let’s dive back into our main topic for today: The Role of Blockchain in Enhancing Security, Trust, and Convenience in Web3 Shopping” Now, I know this might sound like a complicated teaser, but Today, we’re not going to dive deep into the super complex aspects of blockchain. Instead, we’re going to talk about how this fancy tech can make your online shopping life a breeze. we’re here to break it down and make it as simple as possible.

We’re talking about engaging users, creating awesome shopping platforms, and of course, the big spotlight event — Black Friday! This is the chance you’ve been waiting for to grab your favorite stuff at jaw-dropping discounts of up to 80%.

Hana: Now, we’ve got four awesome Guest Speakers with us today from KyberSwap, HIVE, Nabox, and Magic Square. Time to learn a bit about these folks and their cool projects.

Part 2: Pre-selected Questions

DeFi and Shopping Online

Hana: We’re diving into the world of DeFi and online shopping, where platforms like KyberSwap and HIVE make cryptocurrency transactions super smooth for buying online.

KyberSwap’s latest move with Multichain integration is a game-changer. Now, users can shift their token assets from one blockchain to another in just one transaction. That’s what we call convenience!

And when we think about E-commerce, decentralization is the name of the game. It’s like the superpower for users in Web3 Shopping. So, the question for KyberSwap: Can you clarify What are the benefits of decentralization for users when they shop online under the aspect of a decentralized exchange (DEX) platform?

Kyber: Integrating a swap from an aggregator like KyberSwap means you can take any of the thousands of tokens you may hold in DeFi to swap it into usable stablecoin, ETH, or accepted tokens and you get it fast, with the best rates & low gas.

Crypto holders are shoppers too. But you don’t want volatility and price slippage to impact your prices when you shop and that’s why we believe that integration of DEX & aggregators, payment providers and shopping platforms like Uquid will lay the foundations for a seamless web3 shopping experience in future.

Hana: Thank you so much for your perspective, I think it’s really easy to understand for all of us.I do believe that Decentralized Exchange platform like KyberSwap will be the leading foundation for Web3 E-commerce in the short term and long term.

Now, I would like to hear the viewpoint from HIVE. You are an innovative decentralized blockchain and ecosystem with fast processing times and fee-less transactions. Could you share your viewpoint on the integration of HIVE token into the Uquid Platform as a payment method? What are the advantages of directly using HIVE tokens to pay for items online?

HIVE: Integration of HIVE into Uquid helps support the cyclical economy of HIVE where individuals may invest, generate and spend their HIVE

HIVE is commonly used to pay at businesses in many parts of the world. Since the HIVE blockchain allows near-immediate confirmation within milliseconds, it is ideal for e-commerce transactions

Integration with Uquid gives HIVE community members additional opportunities to use their HIVE remotely as they would in physical shopping locations

I’m really curious to know the way how you connect your community in your ecosystem, so I think we will go back to the way of building communities and their loyalty, of course the strategy to maintain speed transaction later in our discussion.

Security in Shopping Online

Hana: I think from the answers of KyberSwap and HIVE, We’ve already covered the significance of blockchain in the Web3 platform, and when it comes to online shopping, security is a top concern for users. After all, nobody wants to lose their hard-earned money when buying stuff online, right?

Hana: As the official DEX partner for the Black Friday Campaign, what are your thoughts on the future of DeFi in online shopping? Do you see online shopping as your next focal point to increase user engagement? KyberSwap, we’d love to hear your perspective on this question.

KyberSwap: Personally I used to work in ecommerce. When crypto payment rails & crypto user base seamlessly merge with online shopping, then 2 things happen, you get a lot of increase in user benefits because users have more options. And crypto in general gets more adoption. So I am all for it.

Decentralization is also a big user benefit ecommerce users are not aware of. Platforms using or monetizing your data, centralizing your data or centralizing your money or credit are things that DeFi is building against. Hopefully we have better user protection and experience where as a user, I control my data, I can monetize my own behaviors rather than going to a corporation. If I have vouchers or memberships, or credit, I hold it non-custodially, rather than it being held by a central ecommerce entity.

KyberSwap as a decentralization maxi and a builder in the space for 6 years, our goal is user adoption of crypto and the more ways users can benefit & have choices, the better, and we will always be here to provide the ecosystem the best trading rates, liquidity solutions, and deep ecosystem integrations.

Hana: I believe your perspective forms the foundation for our users to gain a deeper understanding of how these DeFi projects collaborate to enhance security in e-commerce.

At Uquid, our dedication to providing maximum benefits to the Web3 community and cryptocurrency enthusiasts is the driving force behind our decision to host the Black Friday event.

It serves as an initiative to boost online shopping by using tokens as payment methods while ensuring security for all users.

To turn this vision into reality, we’ve partnered with 20 leading players in the crypto and blockchain industry, which is quite a remarkable feat in the Web3 space. Not just only four partners that are sitting in the table today with us: KyberSwap, HIVE, Nabox and Magic Square, we also have other partners like Polygon, exchange like Gate.io, Flux (cloud computing network with cross-chain oracle capabilities), ARPA Network, Venus Protocol, Beldex, Stable coins like USDD and TUSD, Fantom Foundation, FoxWallet, Ontology, PixelSwap, Avalanche, Seer, Relation Labs, and Token Pocket, bring their unique strengths and support to this campaign.

As official DEX partner in this event from November 8, 2023, to November 30, 2023, when you swap on KyberSwap for these tokens: ARPA, USDD, TUSD you will unlock a treasure trove of exclusive rewards:

🔥 1. Receive a 10% cashback code, allowing you to save big on your next purchase.

🌟 2. For the top 100 spenders, there’s an extravagant 20% cashback code waiting to be claimed.

💰 3. Additionally, enjoy discount vouchers that offer savings of $0.5 or $1 off your purchases.

Transaction Speed for Customer Satisfaction

Hana: I think we’ve gathered sufficient information about the role of DeFi in e-commerce and how these projects collaborate to secure users’ assets during shopping.

The next concern, I believe, is speed. When a user purchases their favorite items online, they want to have the best experience with lightning-fast speed.

So, what is HIVE’s strategy for maintaining and optimizing transaction speed for customer satisfaction, especially in the e-commerce industry?

HIVE: The HIVE blockchain is built for speed with transactions every 3 seconds and is constantly optimized. Aside from being ideal for shopping, it is also the home of many play-to-earn games such as Splinterlands, which require speed.

HIVE’s one block irreversibility (OBI) allows a block and its transactions to become confirmed within milliseconds of signing.

It also adds security through finality, which is a requirement for e-commerce to ensure that purchases cannot be gamed through transaction reversal. HIVE transactions are permanent as issued and can be instantly confirmed by the vendor with confidence.

Thank you so much, I think with high-speed transactions, users can have a good experience for their shopping.

The Role of Communities in Web 3 Shopping

Hana: Now, let’s dive into a section that I consider the most crucial when we talk about Web 3 engagement: the role of communities or users. These communities play a pivotal role in building trust and providing a network for users to exchange their experiences and recommendations.

Before we jump into the questions for our speakers, just a quick reminder that we’ll have a live section in the next 5 minutes. I’ll randomly pick some questions. This is your chance to raise your concerns and get answers from our speakers. The winners of today’s AMA will be those who have their questions picked. They will receive a discount code up 30% to save money when buying during the Black Friday event.

And you still have time to leave your email until the end of this AMA to grab the chance of receiving a 10% discount code from our Customer Service team. We also randomly choose 20 users to reward with a Mobile Legends Game Card — 1 USD Gift Card. So, don’t miss it!

Next, I’m eager to hear the perspective of our speaker from KyberSwap. As the flagship non-custodial crypto exchange aggregator, what are your ambitions for joining us as the Official Decentralized Exchange (DEX) for Black Friday and Cyber Monday and how do you plan to enhance the customer experience of trading and buying, especially for the e-commerce industry?

KyberSwap: Communities being important isn’t unique in Web3. I think for any business, word of mouth and customer advocacy is the strongest & most efficient way of growth. Specifically in Web3 shopping, we are still in early days. Blockchains, wallets, dApps, are still in early days. Communities play a part today in rallying the users to navigate changes in the market, UX, checking on safety issues. Typically a shopping community would be discussing deals & what is the best way to get the best prices, in this case it will be a combo of that plus what is the best token to pay with, which discount NFT To hold, what are the most interesting Web3 services to use today, so on and so forth.

KyberSwap’s goal is always user adoption. And this means we need people to know, trust and use crypto, and use web3 including KyberSwap. Try out Web3 shopping and see what benefits you can earn. If you hold crypto, if you want to trade and earn on your crypto, of course the best place to do it is on KyberSwap.com

Part 4: Live Questions

We’ve covered a lot of ground in our main AMA section today, delving into topics like DeFi and online shopping. We’ve gained insights into Web3 e-commerce for both the short term and the long term.

Now, it’s time for the next part of our AMA: live questions. I’ll randomly select three questions . While we might not be able to address all your concerns, these questions will be the most relevant to our topic today!

For Uquid: How to participate in Black Friday, the largest online shopping event in Web3

Great choice! This question is directly tied to today’s event: Black Friday. Throughout the event, users can snag discount codes for over millions of products on the Uquid website, thanks to exclusive promotions from our strategic partners. I’ll take the lead in providing an answer to this question.

From November 8, 2023, to November 30, 2023, you will have the chance to receive thousands of special cashback codes, discount vouchers, and deals up to 80% off. This is your opportunity to save and shop for products you’ve always desired.

During this event, we provide 5 promotional plans, as below:

Crazy Deals: from 12:00 to 14:00 UTC everyday, we offer a selection of digital products with the discount up to 80%. This is the limited-time opportunity, so grab your chance and save a lot.

Physical Products shopping: The categories include but are not limited to Hot deals today, trending Items, Hot Items, Men and women’s clothing, cellphones and telecommunications, etc with 160 million products on website at uquid.com

Special Cashback Codes

In this remarkable section, you’ll find a selection of 7 types of cashback vouchers, each offering 10% cashback when shopping with stable coins like $TUSD, $USDD, $VAI from Venus Protocol, $HIVE, $FLUX, $BDX from Beldex and $ARPA. But the excitement doesn’t stop there. The top 100 spenders will receive an extraordinary 20% cashback code for their next purchase.

Discount Vouchers

In this section, you’ll find a variety of discount vouchers offering different levels of savings, including 5% discount, 10% discount, $0.5 discount and $1 discount during checkout. These vouchers are available during specific time slots each day, from 12:00 to 14:00 UTC and 20:00 to 24:00 UTC

More Deals: for digital products including payment cards (prepaid credit cards), game cards, gift cards, top-up options, mobile recharge, software and eSIMs, all at significant discounts, all payable with cryptocurrencies

During the entire duration of this event, make sure to visit our Campaign Page. Explore various items, add your favorites to your cart, select your preferred discount plan, and claim it during the checkout process. Stay tuned to our social media channels and our partners’ main channels for a stream of communication throughout these exciting three weeks.

I think it’s enough information for this question. And, I will move to the next one.

For Magic Square: As the inspirational partner, what action will Magic Square be taking to attract more users and increase their participation in the Black Friday event?

Magic Square: Our strategy for attracting more users, especially in regards to the Black Friday event, revolves around leveraging social media. We and our partners will be actively posting about the event on various social media platforms. This approach is intended to not only spread information but also to integrate our efforts, ensuring that users receive comprehensive details about Black Friday promotions

For HIVE: I’m planning to make purchases using EHIVE during the Black Friday campaign and was wondering if you can share any tips or recommendations on how I can collect vouchers or take advantage of special offers associated with cryptocurrency during Black Friday.

HIVE: One of the exciting aspects of using HIVE for shopping is its social shopping experience. HIVE’s ecosystem already consists of various social platforms. You can create content or interact with others to earn crypto. While it’s not a huge amount, it’s a great way to start if you’re new to investing or prefer a more organic shopping approach. Uquid will post information about their services and Black Friday event on HIVE’s blockchain social platforms.

Engaging in these platforms, like leaving comments for Uquid, could earn you some $HIVE. The best way to get involved is to start exploring the social aspect of HIVE. HIVE’s ecosystem revolves around human relationships, which are crucial in deciding what to buy. So, start by engaging on HIVE’s social platforms, building relationships, and discussing or consuming content related to your shopping interests.

Part 5: Conclusion

Thank you Crimson for your detailed answer. I think our user gets all the information in this question. This is also the last question for our AMA today.

Thank you all for joining us today! Your participation and questions have been valuable. As we wrap up, we encourage everyone to take full advantage of the Black Friday and Cyber Monday event on the Uquid platform. Visit the Campaign Page, explore the exclusive offers, and make the most of the discounts and rewards.

And, our speaker, do you have any words to say goodbye to our audiences? Feel free to turn on your mic.

Stay connected with us and our partners on social media for updates on upcoming AMAs and events. We appreciate your engagement and look forward to more insightful discussions in the future.

Goodbye and happy shopping!

About Uquid

Launched in 2016, Uquid pioneers in applying DeFi and Web 3.0 to E-commerce that aims to bring the best Shop to Earn experience to customers with verified merchants, exclusive deals, cashback, and Payin3 with Crypto.

Throughout the years, Uquid still keeps its fantastic performance with continuous growth and the best effort to upgrade its store following the official Roadmap. With the largest selections of over 160 million physical, digital, and NFTs products listed and comprehensive shipping services to over 200 countries and territories around the world, Uquid is confident in serving any demand of customers in the Metaverse.

Users shopping at Uquid are offered flexible and convenient payment methods including cryptocurrency, fiat, or wallets. Uquid’s ambition is to dominate the crypto marketplace by offering the Buy Now Pay Later option to customers. Uquid Payin3 is all about protecting crypto futures value, by delaying the payment in three installments for 90 days, interest-free. With many years of building an infrastructure for E-commerce in Metaverse, Uquid has found the easiest and safest way for customers to access their money and shop online.

Telegram: https://t.me/uquidcoinofficial

Twitter: https://twitter.com/uquidcard

Facebook: https://facebook.com/uquidcard

Medium: https://medium.com/@uquidcoin

Blog: https://shop.uquid.com/blog

Website (Digital product): https://shop.uquid.com

Website (Physical product): https://uquid.com

Website (General): https://uquidcoin.com

Website (NFT): https://nft.uquid.com




The leading Smart Shopping Market on Web3 & Metaverse with millions of products. Verified merchants, exclusive deals, token-based reward & Payin3 with Crypto