CLEARWATER, Fla., Nov. 8, 2018 /PRNewswire/ -- Marketplace software developer OmniBazaar, Inc. announced the release of the production version of its peer-to-peer e-commerce marketplace software, OmniBazaar. At the same time, the OmniCoin Foundation launched its OmniCoin cryptocurrency for use in the marketplace.
OmniCoin is one of three cryptocurrencies supported by the OmniBazaar marketplace, along with Bitcoin and Ether. The OmniBazaar marketplace provides a simple "gateway" for new users to enter the cryptocurrency ecosystem. It allows users to list products and services that they can "barter for crypto" in the marketplace. This allows users to acquire cryptocurrencies with every sale.
"New cryptocurrency users are often put off by the complexities of trading on an exchange. So, we give them a simple alternative," said co-founder and CEO, Richard Crites. "People can get their first cryptocurrency in hours—without identity verification, wire transfers or learning to trade on an exchange."
Because of the partnership with OmniBazaar, OmniCoin tokens are tightly integrated into the marketplace. OmniBazaar users can earn OmniCoins by hosting marketplace listings for other users, by providing escrow services between buyers and sellers, and by referring new users to the OmniBazaar marketplace. The reputation and participation of OmniBazaar users is an important part of the OmniCoin transaction processing and security system. This tight integration was designed and built into both the marketplace and OmniCoin.
"The synergy between the OmniBazaar marketplace and the OmniCoin tokens makes both systems stronger and more useful," Crites continued. "It is a 'win-win' situation for both the consumers and the companies."
The release version of the OmniBazaar software is available now. Early adopters receive free OmniCoins for use in the marketplace. Anyone can download the OmniBazaar software at http://download.omnibazaar.com/support/download?ref=referrer. The OmniBazaar marketplace can be completely free to use for both buyers and sellers, if neither party chooses any of the optional marketplace services.
OmniBazaar is a community-owned, peer-to-peer, e-commerce marketplace. The OmniBazaar ecosystem includes its own built-in cryptocurrency ("OmniCoin"), an influencer marketing system, social messaging, reputation tracking, escrow agents, and bonuses to provide user incentives for participation and growth. With OmniBazaar, online sellers save 90%–100% of the fees they would pay Amazon or eBay. Online buyers benefit from lower prices, and escape from "big data" tracking and "push" marketing. Social influencers enjoy a simple referral system that allows them to monetize their social networks. Marketplace users can generate additional income by hosting listings for other user or providing escrow services in the marketplace. OmniBazaar provides a simple "gateway" to cryptocurrency by allowing users to barter for bitcoin℠.
OmniCoin Foundation Company (Cayman Islands) is a not-for-profit organization whose purpose is to develop, enhance, promote, preserve and protect the OmniCoin cryptocurrency and its ecosystem of users, holders, developers and traders.
SOURCE OmniBazaar, Inc.