Marketplace powered by Ethereum smart contracts may change the industry as it sets new standards of fees and personal data security.
The online marketplace industry is dominated by eBay. The popularity of this platform is incredible: by the 1st quarter of 2018 the service had been connecting 25 million sellers with 145 million buyers. This result sets the bar high. Nevertheless, blockchain-based rivals may diminish the position of the dominant platform. Ethbay is ready to prove that the power of decentralization can change this industry.
Ethbay is a blockchain-based online marketplace that uses Ethereum. This platform has all the advantages of the blockchain technology like security, transparency and so on. However, the main attraction of Ethbay is the 1% fee.
The platform is about to launch the ICO: the EBY token sale is scheduled for the 7th of June. Early birds get significant bonus: during the first round all the buyers will be rewarded with 25% bonus. Ethbay plans to issue 100 million EBY tokens – and 80 million are to get to the public.
The ICO is about to start and the platform has announced the benefits for the EBY token holders. Firstly, the token owners will get a proportional share of the fees generated on Ethbay. Secondly, they will get a chance to influence the development of the platform by voting on site proposals.
Ethbay is a platform that has been developed to satisfy all the needs of its users. The 1% fee is not the only attraction that can be found when studying the business model of the project. One more important step is the rejection of listing fees. Sellers do not have to pay for posting.
The blockchain nature of Ethbay and the usage of smart contracts guarantee security and safety. The team of the project has decided to go a step further in this direction: the platform does not require any personal information for successful registration. The status of the truly anonymous marketplace is supported by the system of encrypted messaging available for all the registered users.
The innovative approach of Ethbay may change the online marketplace industry. Low fees and free listing are not usual for the industry – but Ethbay may become the game changer.
Users of Ethbay are to get to the new level of personal data security. If a user can provide the email address in order to get notifications on the sales and purchases. Sellers can disclose the Ethereum address for the payments. Still, it all depends on the user – the platform does not require this information at the registration stage. One more example of breaking limits is the geography of Ethbay: the platform will work worldwide.
Ethbay is in the stage of active development. The platform will soon get new features. One of the expected innovations is Ethbay Service – marketplace for services powered by Ethereum. This part of the project can be described as decentralized Fiverr. The platform is also considering the creation of local marketplace solution – Ethbay Classifieds.
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