Are you one of those in a quandary where to shop? Or where to sell your goods? What’s our take on these? Let me help with a few tips.
Buyers will often pay higher prices from a seller with a better reputation and prefer marketplaces like eBay, Amazon, and Etsy, rather than taking a risk with lower prices from a seller with a lower reputation. As a result, sellers work extremely hard to maintain a pristine seller reputation through great customer service, fast shipping, and quality products.
Craigslist, OLX, and Facebook Marketplace have an extremely wide reach and are free to use. There are no transaction or listing fees in most cases but the same problem exists here, you have no idea from whom you are buying.
After running the Listia p2p marketplace for over 9 years, the Ink Protocol team realized that the problems they were trying to solve could be generalized across all types of marketplaces. Building on those years of experience and learning from over 100M items traded on Listia, they launched a decentralized transaction system that can be used on any marketplace that includes self-sovereign reputation, decentralized escrow, and dispute resolution.
Seller reputation is an important asset because buyers often choose sellers on the basis of their reputation. This is particularly true when the quality of the goods or services are hard to measure and the parties cannot perfectly predict the outcome of the transaction. As a consequence, the seller will be mindful of building and maintaining a good reputation through the information that buyers have about the seller, including previous transactions and the reports of other buyers.
The Universal, Decentralized Transaction System For Any Marketplace
Ink Protocol endeavors to take away the monopolistic power from marketplaces, which have the ability to modify your reputation, censor, or otherwise filter out your feedback, and most importantly, they are able to charge extremely high fees (20–30% in some cases) because they own your reputation data and you are now