The Ethereum-based marketplace BitBoost will allow anyone to list items for sale and shop online, with low fees, a high level of privacy, and zero censorship.
BitBoost is announcing The Block, a new decentralised e-commerce platform, and will shortly launch its public beta ahead of a crowdfund later this year. The marketplace, which is based on smart contracts protocol Ethereum, will allow buyers and sellers to trade online, in a similar manner to eBay but with the efficiencies and advantages of a decentralised architecture.
‘Ethereum allows us outsource the global infrastructure that eBay has to maintain, with the result that we can charge way, way less,’ explains CEO Paul Mahone. ‘We have a very simple fee structure. We only charge to list an item, and never take a percentage of the sale price. A basic listing will cost about 1 USD in BitBoost tokens.’
Paul Mahone has been invited to Seamless Ecommerce Middle East 2017 in Dubai, where he will be one of the Conference Speakers on May 2nd, presenting “Evaluating the potential of the blockchain for ecommerce” as Bitboost CEO.
The Block is currently available as a desktop application, with a mobile version to come. Cryptocurrency applications are typically complex and require a high degree of technical proficiency as well as a resource-heavy blockchain download – something that the creators of The Block have been at pains to avoid in the interests of building a platform suitable for mass-market adoption.
The marketplace has a clean, straightforward interface that will be familiar to anyone who shops online. A built-in Ethereum wallet, with ETH purchases via BTC enabled through an integrated instant-exchange app, means that the user never has to leave the platform and no third-party wallet service is required. Multiple languages are offered, and a stable, fast user experience ensures no unnecessary technical barriers for customers. However, being built on Ethereum’s blockchain means that The Block offers something qualitatively different to other e-commerce platforms.
As a decentralised platform with listings held on the blockchain, The Block never goes offline and there is no single point of failure. It is a censorship-resistant system: any merchant can list anything for sale, and users can buy and sell without the risk of intervention by third-parties for political or other reasons. Information is stored on thousands of computers around the world, so The Block cannot be shut down.
In line with other cryptocurrencies, using Ether as a payment method brings the possibility of a high degree of privacy. In contrast to other e-commerce platforms, no personal information is ever required from users, either for registration or for payment. Users can connect via the developers’ Ethereum nodes, or via their own node for additional safety if necessary. Listings cannot be removed, even by The Block’s team – although optional blacklists can be provided, to allow users to filter out particular items and sellers if desired.
The Block is currently in private beta. The pool of testers will be expanded as the application becomes market-ready, and a public beta will follow before full launch. For more information, visit www.bitboost.net.