OmniBazaar Releases Marketplace Safeguards to Deter Crime

CLEARWATER, Fla., Aug. 20, 2018 /PRNewswire/ -- OmniBazaar, Inc. announced today that it has released an updated version of its e-commerce software, OmniBazaar. The new version will make it more difficult for criminals to use the peer-to-peer marketplace.

Peer-to-peer marketplaces are susceptible to illegal activities because they are community owned and operated. Buyers and sellers deal directly with each other, without an intermediary. With no central site or responsible authority monitoring the content of listings, such sites can become havens for criminal activities.

"OmniBazaar was designed and built for the average person who wants to buy and sell goods and services in the 'white market'. Other distributed marketplaces enable 'black market' activity by providing tools for anonymity and IP obfuscation. With 'community policing' we are taking an active step to use our patented marketplace technology for the public good," said co-founder and CEO, Richard Crites.

The OmniBazaar community policing system allows marketplace users to flag listings as illegal or objectionable. If enough users with enough community ranking object to a listing, it will be removed from the marketplace. Listings by known and respected members of the community are harder to remove than listings by new, or relatively unknown, sellers. These rules make it harder to thwart the system.

Community ranking, and the accompanying ability to "down-vote" a listing, is acquired by providing services to the community and developing a good reputation in the marketplace.

"This isn't censorship by some central authority," Crites continued. "'Community policing' provides a positive way for the marketplace community to set and enforce its own standards."

The latest version of the OmniBazaar software is available as part of the company's public beta test. Beta testers and early adopters receive free OmniCoins for use in the marketplace. Anyone can download the OmniBazaar software at http://download.omnibazaar.com/support/download?ref=social. The OmniBazaar marketplace is open and "live" during the beta test, and the public is encouraged to participate.

About OmniBazaar:

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 users or providing escrow services in the marketplace. OmniBazaar provides a simple "gateway" to cryptocurrency by allowing users to barter for bitcoins℠.

Media contact:

Richard Crites, CEO
[email protected]
877-534-5347
http://OmniBazaar.com

SOURCE OmniBazaar, Inc.

Related Links

http://OmniBazaar.com