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RE: Openbazaar

in #technology7 years ago

I also think that it's a very interesting project. There are a few other projects with a similar value proposition like particl.io which had their genesis block creation a few days ago and who are also looking to create a decentralized marketplace with similar features. If they can somehow figure out the legalities of this (best case scenario through anonymization and encryption), this could become very big. Only time will tell which of the marketplaces will survive.

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The hard part for these marketplaces will be building and establishing trust online. Complete anonymity will be counter-productive for legitimate businesses.

When we think of the internet there is both the good and the bad coexisting. At first people would have spelled doom for the internet because of all the evil it could be used for. I don't see why a similar paradigm cannot exist for these decentralised online marketplaces.

particl.io looks interesting. I will check it out some more.

I think OB has come up with some decent solutions for helping trust https://steemit.com/tutorial/@cryplectibles/tutorial-with-images-how-to-buy-with-steem-on-openbazaar especially with upcoming TOR support for those who are super anonymous will still be able to hold their accounts and have transaction activity tracked tied to a user at least.

The advantage of a democracy is the slowness at which change happens.
The advantage of technology is that change can be very quick.
The problem when new technology and democracy meet is that laws take years to establish while technological change can happen within minutes sometimes.

That's why there still are a lot of problems with the Internet more than 20 years after its mainstream use.

I guess it will take another 20 years for this technology to be somewhat regulated. Right now, it's Wild Wild West out here.