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Thread: New Decentralized eBay / Silk Road-like marketplace, OpenBazaar, raises $1m

  1. #1

    Default New Decentralized eBay / Silk Road-like marketplace, OpenBazaar, raises $1m

    - No more middleman fees.
    - No more messing around with centralized .onion sites.
    - Has Bitmessage integrated instead of needing to mess around with PGP for privacy.

    If you take down the developer, someone else will just continue it because of the open-source nature of github.

    Do you believe in my signature, yet?

    "The Revolution will be Decentralized."

    --------------------------

    http://bravenewcoin.com/news/openbaz...ses-1-million/.
    OpenBazaar Team Raises $1 Million

    The OpenBazaar development team announced today that they've received $1 million in funding. The funds will allow several of the core developers to work full-time on further platform development, adding new functionality and strengthening the system for a mainstream-ready client version. It will also allow them to create the first company built around the marketplace, OB1.

    The OpenBazaar marketplace is a global effort started in April 2014 by Brian Hoffman, who based his marketplace off of the hackathon-winning DarkMarket code by Amir Taaki. Since those early days, the project has taken off dramatically, capturing the attention of nearly 1,400 developers worldwide, with about 100 developers contributing code to date.

    The OpenBazaar protocol uses peer to peer software to create a distributed network of buyers and sellers, who offer their goods and services directly to each other for Bitcoin. Unlike Ebay and Amazon, there are neither middlemen to charge fees nor settle disputes. The protocol includes a robust reputation system for all parties and the ability for anyone to become a dispute arbiter, and get paid for their time.

    “OpenBazaar removes the intermediaries and gives everyone – individuals to large companies – the ability to directly engage in trade with anyone in the world, for free.”
    - Brian Hoffman, OpenBazaar Project Lead
    The marketplace is set up to sell both physical objects and data, covering a far broader range than any centralized competition. Each of the varied products or services being sold in the OpenBazaar system uses a specific smart contract that greatly reduces fraud, while also offering privacy and finance options that centralized services like Ebay cannot offer today.

    “The Internet has decentralized communications, and Bitcoin has decentralized money, but online commerce still relies on numerous intermediaries.”
    - Hoffman
    The funding is being provided by venture capitalists Union Square Ventures, Andreessen Horowitz, and angel investor William Mougayar. The three capital contributors are no strangers to Bitcoin. Union Square Ventures and Andreessen Horowitz have both previously invested in Coinbase. William Mougayar invested in the Creators of ChangeTip, ChangeCoin, and currently sits on OpenBazaar’s board.

    “USV is excited to support and help OpenBazaar and OB1 realize their vision of delivering a free and open marketplace protocol that ushers in a new era of peer to peer global commerce.”
    - Union Square Ventures
    The decentralized marketplace is currently in its fifth beta release version, despite the lack of prior funding. Since OpenBazaar is decentralized and open source, much like Bitcoin, questions have been raised in the community regarding how such an ambitiously disruptive project could be practically developed. Until this announcement it seemed unlikely that investors would be found, since there was no apparent way for them to receive any returns from the protocol.

    Investors now have a separate company to invest in, OB1. This company is designed to offer supporting services to OpenBazaar users, although no details have yet been released about the nature of those services. Since the Openbazaar protocol will always run with or without the company, it's censorship-resistant nature should be completely preserved.

    OpenBazaar encourages those interested in the project to find out more and get involved with the developer community on GitHub or through their public Slack by requesting an invitation at project@openbazaar.org.
    Last edited by muh_roads; 06-12-2015 at 05:51 AM.



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  3. #2

    Default

    I downloaded and installed OpenBazaar on a Linux Mint machine yesterday and checked it out.
    Easy peasy.

    Too cool -world wide garage sale.

    No listings or purchases for me yet, but the potential... holy cow.
    Fear of man will prove to be a snare, but whoever trusts in the LORD is kept safe. Proverbs 29:25
    "I think the propaganda machine is the biggest problem that we face today in trying to get the truth out to people."
    Ron Paul

    Please watch, subscribe, like, & share, Ron Paul Liberty Report


  4. #3

    Default

    It looks to be Bitcoin only, is that right?

  5. #4

  6. #5

    Default

    Quote Originally Posted by Lindsey View Post
    It looks to be Bitcoin only, is that right?

    Does OpenBazaar support any altcoins or cryptopcurrencies other than Bitcoin?
    At the moment, OpenBazaar only uses Bitcoin.

    Bitcoin is by far the largest cryptocurrency in use, and as such the core development team has focused on it entirely.

    However, others are welcome to incorporate altcoins into OpenBazaar with one of two methods:

    Submit a pull request to the main GitHub repository which enables use of an altcoin.
    Fork the repository to create an altcoin specific OpenBazaar clone.

    Please remember that an altcoin must have multisignature capabilities in order to use the OpenBazaar platform. Integrating an altcoin into the OpenBazaar code would be a significant task, and we recommend reaching out to the core developers before starting.
    Fear of man will prove to be a snare, but whoever trusts in the LORD is kept safe. Proverbs 29:25
    "I think the propaganda machine is the biggest problem that we face today in trying to get the truth out to people."
    Ron Paul

    Please watch, subscribe, like, & share, Ron Paul Liberty Report


  7. #6

    Default

    Quote Originally Posted by Lindsey View Post
    It looks to be Bitcoin only, is that right?
    Ran across this (old news missed) - have not yet used it yet.
    https://www.openbazaar.org/blog/open...o-integration/
    OpenBazaar 1.1.10 Released – Purchase with Ether, Monero and More Via ShapeShift.io Integration
    OpenBazaar shoppers are now able to purchase from OpenBazaar shops using Ethereum, Zcash or any of a variety of other cryptocurrencies. The integration is a great match for our decentralized marketplace as the Button’s code is free and open source and has been integrated by dozens of bitcoin-friendly merchants to broaden customer payment needs quickly and easily. Read more in the full press release and check out this great tutorial video they’ve recorded below:
    Fear of man will prove to be a snare, but whoever trusts in the LORD is kept safe. Proverbs 29:25
    "I think the propaganda machine is the biggest problem that we face today in trying to get the truth out to people."
    Ron Paul

    Please watch, subscribe, like, & share, Ron Paul Liberty Report


  8. #7

    Default

    alt coins will come in.

    Also check Sys coin Blockmarket application. it tries to do the same thing using the Sys blockchain.

    there will be many decentralized Ebays.






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