You mean something like
https://openbazaar.org/download/, but in a web-version or something? What's the difference between you and them exactly? Conversing your money to Fiat?
I personally don't/wouldn't really use these "openbazaar"-esque marketplaces for a number of reasons;
1. Scams. An enormous amount of the listings are fake or w/e.
1.1 "
But, but that's what escrow is for" I can't be bothered to go through the disputing process either. It takes ages and usually ends up being not worth your time. Which brings me to my next point;
2. Ease of use/User-Friendliness. Amazon is 5x easier than most of these exchanges (OpenBazaar) (IMO), even with/when using bitcoin (which they don't even accept.) That should be pretty telling.
3. An extremely limited amount of goods/services available in comparison to Amazon/eBay.
4. The goods that are available are usually really trashy and not interesting.
If these issues were to be solved i'd possibly use them over Amazon/eBay, but for now it's just not possible. I also doubt you'll be able to "fix" these issues overnight, as they require enormous amounts of capital. I feel like it'll be very difficult for you, but also other markets (OpenBazaar) to gain any market share at all here. (That's just my opinion though.)
- Shapeshift
- Crypto/Fiat conversions
- KYC for merchants
- Escrow
KYC
for merchants wanting to sell on your platform or KYC as a "tool" for merchants on your platform?
The rest seems like pretty basic stuff. Nothing too excited?
Thank you for your reply.
I agree, obviously it won't happen overnight.
The idea came up with our own ICO named Qredit. Which is focused on fiat conversions. The goal is to allow people end up buying/selling normal household items using or accepting crypto, even when you are not in to crypto.
The idea also came up because of the OTC channels i'm in on Telegram where people got scammed many times, over and over again.
1. Scams ~ True. Only a trusted review system and a KYC procedure for merchants "could" reduce the amount of scammers on these markets.
We have a ID verification system provided by a 3rd party company named Token of Trust (not crypto related) and additionally we could enable mobile, email and social media verifications.
To "reduce" the amount of scammers.
2. You are right. However, it works on existing platforms and some people still prefer to use escrow services.
3. Only way to increase the amount of users is by doing proper marketing. It's a challenge, I agree.
4. Also marketing and targeting the right people to use the marketplace.
@Slow death;
Being a competitor of ebay, aliexpress etc, isn't something I directly mentioned. But I do believe there is gap between fiat and crypto for marketplaces.
The big guys like ebay, aliexpress and amazon will eventually accept crypto as a payment method. But only limited to Ripple or Bitcoin possibily, or maybe even their own coin.
I think it's better to have a platform, where developers could implement their own coin on the marketplace, or maybe even apply for listing first and check if the coin is not trashy.
It will give a nice exposure for new coin developers.
We've allowed PayPal as a payment method. The goal is to allow ourselves to act as the trusted mediator between the transactions and deal.
