New York. 27th August 2019 – Particl has developed a fully decentralised, private marketplace on the blockchain thanks to expert advisors such as Miguel Cuneta and the experienced American entrepreneur and Bitcoin advocate, Charlie Shrem. Today it has officially announced the availability of several product categories in the marketplace, including consumer electronics, sporting equipment (e.g., golf balls, backpacks), beauty products and much more.
Shrem was building use cases for Bitcoin before 99% of the world knew it existed, and Cuneta is right in the middle and instrumental in building the crypto revolution in the Philippines. It’s this level of experience that has been instrumental in guiding the Particl team, helping it evolve from a concept into the shining beacon of hope for merchants that it has become.
On Monday, 12th August 2019, the Particl marketplace was officially launched to the world. This brand-new decentralised ecosystem of merchants and buyers is centered around a native privacy-focused coin that allows people to transact in total anonymity. With the continued support and guidance of key advisors and an enthusiastic community, Particl is working on a couple of features that will enable more larger-scale vendors to join the platform and help continue to grow the number of buyers browsing for goods and services.
Particl enables merchants to create their own stores quickly and efficiently by generating market keys and sharing them with consumers. These user marketplaces are not governed by Particl, meaning that the marketplace is verifiably 100% decentralised. In turn, merchants accept full responsibility for the items they post for sale in their user marketplaces, bearing the full brunt of the law should they opt to sell illegal items.
The PART token utilises various features that ensure complete and undeniable privacy, including RingCT and Bulletproofs. Due to the fact that the Particl marketplace doesn’t gather user data, there is no information that can ever be stolen from the network. As we’ve seen in the past, major e-commerce platforms such as Amazon and eBay are a target for hackers, thanks to the large volume of data generated and collected by these platforms.
Paul Schmitzer, Particl Project Marketing & Strategy says: “Having key advisors such as Charlie and Miguel has added real value to the Particl project, lending their vast experience and knowledge of the Bitcoin startup space to understand the target audience and assess the viability of a privacy-focused cryptocurrency shopping application.”
Since its launch on August 12, merchants have been able to slash the prices of their goods and services compared to their listings on eBay and Amazon.
For instance, a customised set of 12 Titleist Pro V1 golf balls will only cost you 23.9 PART ($48.20), whereas for a customized set of the same spec balls will set you back $71.02 on eBay. Similarly, an Original Chanel perfume is only 64 PART ($129.28), whereas on Amazon.com the same bottle will cost you a rather hefty $227.90. These significant savings are thanks to the ultra-low fees that are charged to merchants on the Particl marketplace. The fee structure allows merchants to offer the same products and services at a significant discount when compared to Amazon and eBay as they’re not charged up to 45% on sales.
As new features go from concept to roadmap items, Shrem and the other key advisors will continue to have a big influence on the development of the Particl marketplace.
Particl is a privacy-focused ecosystem based on P2P/blockchain technologies. It is composed of:
- a privacy coin capable of untraceable/unlinkable transactions,
- a private, decentralised online marketplace where anyone can buy and sell goods and services for cryptocurrencies without leaving a trace, and
- a platform on which various applications can be integrated and interacted with.
Particl uses a double deposit escrow system based on the MAD game-theory. Each party adds collateral (PART coins) into a smart-contract which is released back to both users, without any fee, once they both agree the transaction is complete. This is scalable, requires no staff and ensures a mutually satisfying transaction.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.