BUY&SELL is bringing the crypto revolution to the online classified ads market. Until now, the online classified ads market has remained relatively stagnant. What essentially happens is, in each country or region, the first classified site to get popular stays on the top.
The reasons for this are simple: they have the most available products, the most available consumers, and the most mindshare. When you want to sell something online in the US you use Craigslist, in Russia Avito, and in France, Le Bon Coin.
However, these market leaders rest easy on their laurels, online classifieds are easily maintained and extremely profitable… so there isn’t much incentive to push the envelope. But this kind of complacency has led to a stagnation in development and is to the disadvantage of users that are missing out on new features and services that could be developed, but aren’t. They collect the cash but very little is reinvested in user experience or service improvement.
To see the proof, just look at Craigslist. You’d think there hasn’t been a single development in web technology since 1998!
Online classified ads are profitable to these companies because the service is necessary. The reach is greater than that found in just about any newspaper. What’s more, the messaging systems enable quick communication. In business language, the “time to purchase” is shortened.
But these services can be improved with the latest and greatest technologies - and that is exactly what BUY&SELL plans to do by integrating blockchain technology into their classifieds platform.
The changes will be vast as the industry has a lot of catching up to do. But the major tenets of cryptocurrency will be the stars of the show: decentralization, anonymity, independence, and security.
BUY&SELL is one of the first online classified sites and the coming together of these technologies will give users of all kinds a new, unique, and secure experience that showcases the best of crypto.
Sellers of goods on BUY&SELL will quickly see the upside of the platform insofar as security.
They will have access to a totally decentralized, geographically unlimited client base that is ALSO unlimited by currency or banking systems.
This drastically increases the number of potential customers and increases the likelihood of sale. This may seem a bit far fetched at first but remember international communications and shipping have been here for quite some time.
What has been missing is an uninterruptible monetary connection… and this is built right into the BUY&SELL platform with the BAS token. Smart contracts will provide another layer of security for sellers and help to make sure that they are paid for the goods rendered.
It is generally not the sellers who have the major issues with online classified ads and the ensuing transaction. The seller knows the history of the object, generally doesn’t render it until payment is received, and basically holds all the cards if shipping is involved.
The transfer of money is instantaneous, shipping is not. This puts the buyer at a disadvantage.
So, it is the buyer that stands to increase his protection the most with BUY&SELL. For one thing, smart contracts will allow the buyer to check the history of an item. This will help the buyer get an inside look at what the object is and better recognize fraud.
For sellers there will also be a built-in process of arbitration if, say, a car’s mileage is different from what was stated online or if the description was misleading or outright false.
The Ethereum-based smart contract system will also allow for transaction holds and even counter transactions should the buyer believe that the exchange was attempted fraud.
And remember, the built in anonymity and security of cryptocurrency protects both parties from most of the typical mail fraud schemes. The blockchain is very difficult to work around or defraud.
BUY&SELL is more than just a person-to-person service it also connects businesses to people and people to businesses. Given the global reach that is built into BUY&SELL and the included advanced analytical software, the service is equally usable by businesses and by individuals.
Using blockchain technology the businesses will be able to better understand trends, what works, and where certain things should be advertised, or where they might be more easily found – all the while without violating the privacy of the user.
This is the power of cryptocurrency and online classified ads in the modern age.
This press release is for informational purposes only and should not be viewed as an endorsement by CoinIdol. We take no responsibility and give no guarantees, warranties or representations, implied or otherwise, for the content or accuracy. Readers should do their own research before investing funds in any company.