Online Marketplace in Need of Decentralized Arbitration, Or May Be Not
Where the online marketplace industry is going now? And does it need decentralisation at all? CoinTelegraph spoke about the issues with Brian Hoffman, project lead at the fully decentralized marketplace, OpenBazaar, and Tone Vays, head of research at BraveNewCoin. Brian Hoffman explains CT to what extent OpenBazaar has penetrated the mainstream and what will happen next: Market penetration. CoinTelegraph: Are the majority of OpenBazaar’s user base long-time online sellers or is OpenBazaar their first experience with selling? Brian Hoffman: It's a mix really. We are seeing a lot of people....
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A class-action lawsuit accusing MakerDAO of misrepresenting the risks associated with its DAI stablecoin has been stayed pending arbitration proceedings. A court has agreed with the Maker Ecosystem Growth Foundation that a class-action lawsuit over its ‘Black Thursday’ meltdown should enter into arbitration proceedings.The Maker Foundation filed this motion to compel arbitration in response a lawsuit filed by MakerDAO user Peter Johnson in April after he suffered six-figure losses as a result of the protocol becoming undercollateralized in March.In a September 25 order, Judge Maxine....
The traditional financial ecosystem has been on the brink of collapsing for quite some time. To put one more nail in the coffin of traditional finance, it will become much easier for consumers to sue their credit card company in the near future. Right now, credit card companies are protected by an arbitration clause, but that layer of protection could possible fade away in front of their eyes. Suing a credit card company is a daunting task these days, as all of these institutions are protected by an “arbitration clause”. Every individual credit card owner has signed and agreed to this....
The third OpenBazaar beta, "Tabriz," has been released. With this release, the OpenBazaar team starts naming releases after great bazaars from all around the world, with the first being Tabriz, a market in Iran which is one of the oldest bazaars in the Middle East. Tabriz is the first OpenBazaar release that runs on Windows. It is also available for OSX and Linux. The urgent importance of OpenBazaar, a distributed and decentralized marketplace without central servers that can be shut down by the authorities, has been emphasized as a way forward after the Silk Road 2.0 crackdown saga.....
Yesterday, an exciting partnership was created that would enable the creation of the largest Bitcoin marketplace to date - BitDazzle. The collaboration between Cashie Commerce and Coinbase will make it possible for any small business to maintain an online marketplace, while reaching an exponentially growing population of Bitcoin users. The breakthrough means big things for the online marketplace. How Bitdazzle works: BitDazzle works the same as any online marketplace. When you visit the site, the consumer will unveil a vast marketplace of digital and physical goods. Consumers search....