Classified are absurdly popular. If you have extra stuff in the attic, spare bikes in the garage, need to hire someone to help you with a task, are looking for a rare Pokémon card, etc. then you’re are probably going to check a classified ads site first. IF you’re old fashioned you might even look in the back of the newspaper (provided yours hasn’t moved completely online).
Ever since classifieds have moved online the margins have been very high even though the cost to the user is relatively low. Most sites won’t charge you to buy or sell, just to have your ad placed in a higher position on the site.
The background costs are low, the margins are very high, the site demands very little attention insofar as maintenance and development and, lastly, once a site is installed in a geographic area it is difficult to make it budge.
This has led to a situation where the major market dominators (usually there is one per country) have very little reason to actively improve their services. People will post there and people will look there because, well, people post there and people look there!
This inertia, however, is extremely dangerous. Newspapers also once had similar momentum.
Why would anyone stop using newspaper classifieds?
Well it’s because they became complacent, a new technology came along, and they didn’t bother to change with the times.
Enter the Blockchain
Moving from the bulletin board at the local bar, to the newspaper, to the internet has been a series of logical steps. Each one being faster, more instantaneous, more searchable, and having far greater reach.
The latest step follows in that same tradition, but is magnitudes more powerful.
That latest step is the Blockchain, and just like every generation of service in this field before it, the current market dominators are extremely complacent… leaving this massive, high margin market open to services willing to innovate.
Services like Buy&Sell.
The integration of the blockchain into the classified ads market allows for the creation of a truly borderless market on which services can be bought or sold. This has been a long time coming. The ubiquity of English and the all time low price of global shipping eliminated the greater part of the obstacles to the creation of a global exchange of goods and services.
But currency stubbornly kept them separate. France has leboncoin.fr, Norway finn.no, the US craigslist, and so forth for most countries.
This is mostly a result of the extreme difficulty of person-to-person exchanges of money across national borders. It attracts regulatory interest and worse.
With the integration of the blockchain and the utilization of a cryptocurrency as the means of payment, the borders that divide us are flattened like the walls of Jericho at the sound of the trumpets.
Buy&Sell’s implementation of the blockchain also affords buyers and sellers a far greater level of security than they are used to. Transactions are truly peer-to-peer but they are ensured by Buy&Sell’s escrow service in order to prevent fraud.
The blockchain allows for the creation of a history for each item and a way to more accurately follow the process of exchange than is currently possible on other competing sites.
Greater Usability, Better Service, Bigger Margins
The elimination of popular methods of fraud and the tracking allowed by the blockchain gives clients, both buyers and sellers, far greater confidence in the service and the platform. And since Buy&Sell allows for a much, much bigger market than the current classified ad sites, trust is an even bigger factor. If you have problems with fraud just with people in your own town, then imagine the possible problems when you are exchange with someone on the other side of the world.
Luckily Buy&Sell is ahead of the game and has built a specialized system to open up new horizons and to build trust.
Bringing a high margin business to a global level without increasing costs on users.
That’s the power of the blockchain.
For more information about the ICO visit http://buyandsell.io/
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