Via an official statement today, OmniBazaar announced the beta test of a new e-commerce marketplace that aims to simplify the use of cryptocurrencies by removing the need for intermediaries such as crypto exchanges and banks, and other services like eBay or UpWork.
OmniBazaar to Create a New E-commerce Ecosystem
On August 13, OmniBazaar, Inc., an open-source peer-to-peer network specialized in e-commerce, announced the beta test service of its latest product named OmniBazaar. OmniBazaar, as described in the official press release submitted by the company, will remove the need for all third parties in e-commerce.
OmniBazaar representatives explained what they have set out to achieve — removing the obstacles associated with using cryptocurrencies for the “average user” stating that these users often avoid crypto transactions because of “complexities of opening an account at a cryptocurrency exchange.”
The new service aims to disrupt e-commerce as we know it by removing the middleman while allowing users to directly offer and pay for different services through OmniBazaar.
OmniBazaar Diminished the Middlemen and Banks from E-Commerce
In the official explainer video published by the company, OmniBazaar describes how people can buy and sell their products and services through the service, just like on eBay or Upwork, while utilizing crypto assets instead of local fiat currencies.
This concept removes the need for any intermediaries. Users run software locally on their computer and are connected directly to other users, removing the need for intermediary platforms like Amazon and UpWork, with payment being made with cryptocurrencies.