Revamping Purchasing Credibility through NFT Receipts • Diremo – E-Commerce on the Blockchain
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Diremo – E-Commerce on the Blockchain

Revamping Purchasing Credibility through NFT Receipts

Our NFT proof-of-purchase feature.

By Diremo Staff  •  Published on Apr 17, 2022

Revamping Purchasing Credibility through NFT Receipts

Receipts as proof of purchase, whether physical or online, are a fundamental addition to any shop. That said, unlike the constantly evolving product market that they operate upon, receipts' function have remained the same since their introduction. By definition, receipts are tokens of transaction that note product sales – nothing more. That is, until Diremo. At Diremo, we have sought to change this consensus by pioneering a new type of receipt: NFT receipts. Not only do we support the individualistic nature of these indicators of transaction, but we strongly believe that NFTs offer a safer and more convenient alternative to their millennia old counterpart.

Diremo's vision for NFT receipts is simple. With each and every purchase on our shopping site, we provide one free, proof-of-purchase NFT to the product recipient. These receipts are delivered to the recipient Pioneering Purchasing Credibility through NFT Receipts e-mail, one for each good purchased. In the case of a bulk order, Diremo will provide however many NFTs are necessary to compensate each unit.

At face value, NFT receipts perform the same mundane task that regular receipts do, however, in terms of security, they are easily distinguishable as the better method. Receipts can be easily replicated and forged, leading to a list of unsightly side effects such as third parties gaining the unsolicited knowledge of your purchasing history and, in a worst case scenario, this might be weaponised against you. Contrastingly, NFTs are non-descriptive at face value and, therefore, any mal-intending third party could not gain revealing details of a person's financial life from merely accessing the token picture. That said, although their text-minimising format might make them seem vague, NFT receipts can be just as easily used to refund products as can be done with any receipt.

Consumers also have benefit convenience wise from making this switch. When stored in large quantities, normal receipts can blend together to the point of indistinguishability. Indeed, if a consumer needs to make a refund and must therefore find one, the only way to sort through a pile of these white rectangles is by observing each of their contents. When considering that the average American spends $5,111 each month (no data was given to indicate the precise number of purchases such an amount entails) this can become a lamentably laborious task, one no doubt involving an unnecessary amount of sifting.

NFTs solve the great identification problem through their case by case uniqueness. A person looking to find a NFT receipt must only search until they come across the appropriate picture and, considering that visual memory is proven to be far more potent than literary/auditory memory, this can be accomplished more efficiently with NFTs. In fact, [scientific studies have even shown that the brain can see 10-12 images every second](https://en.wikipedia.org/wiki/Frame_rate#:~:text=The human visual system can,is higher than 50 Hz.) as opposed to words, of which humans [can only read 4.5 per second](https://biteable.com/blog/video-word-count/#:~:text=How long does it take,over 4.5 words per second.). That's a lot slower! Not to mention, it is common knowledge that identifying something according to its picture is far easier than deciphering a written description of that same thing.

In short, NFTs provide a more convenient and reliable service than do receipts and we thus consider them the better option as Diremo moves into finalising its sales process.