171014 OpenBazaar is Bitcoin’s Killer App

When a disruptive technology, like Bitcoin, goes from being a novel idea to Main Street, it is usually a ‘killer app’ that gets it there. Bitcoin’s ‘killer app’ could very well be OpenBazaar.  OpenBazaar is an open source marketplace.  Hence the name.  There are no fees at all, ever.  You can browse the site as a customer.  There are already over 5000+ shops, or, open your own store.  Again, as a shopkeeper, there are no fees.  You post what you want to sell, with pictures, description, and price in the currency of your choice.  I’m from the United States so I put my prices up in dollars USD.  Oh, did I mention I opened a store? More on that in another posting.  When it comes time to pay, the buyer is given the equivalent price in Bitcoin at current rates.  All transactions are in Bitcoin.  The site is fabulous and will become very popular.  It is Beta now but it is very much alive with real products and real Bitcoin.

The site layout and design are sparse, without clutter.  That’s not a bad thing.  Every element is clear, simple and direct.  In the end, I believe if there are any shortcomings with the site they will come down to good, old-fashioned selling.  To compete for attention merchants are going to clamor for something more than a good search algorithm.  They might even be willing to pay for advertising to attract customers.  The mechanism of selling and payments has been solved. OpenBazaar does what it set out to do — create free and open markets, and, it does that very well.