OmniBazaar, Inc. announced that it has released an updated version of its e-commerce marketplace software, OmniBazaar. The new version uses the company’s patented “peer-to-peer-to-peer” network architecture. The advanced design solves a long-standing problem with peer-to-peer systems.
Older peer-to-peer systems require that users keep the peer-to-peer networking software running and stay connected to the internet to participate in e-commerce or file sharing. The new OmniBazaar network architecture allows users to sell products and services in the marketplace without the need to keep their computer running and continuously connected to the internet. The “peer-to-peer-to-peer” design allows casual users to post their marketplace listings to a selected “Publisher” node. The Publisher node then makes that content continuously accessible to other marketplace users.
“OmniBazaar was designed and built for the average person who wants to buy and sell in the marketplace without running a full node on the network all the time. Our technology has already allowed us to develop a ‘lite’ client for the casual user and opens the door for development of mobile applications,” said co-founder and CEO, Richard Crites.
The OmniBazaar Publisher Node system is one of several features that help to reduce the “friction” associated with the use of a peer-to-peer marketplace. Other friction-reducing features include a choice of built-in cryptocurrencies, a simple escrow system, and a social messaging system.
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. The OmniBazaar marketplace is open and “live” during the beta test, and the public is encouraged to participate.
OmniBazaar is a community-owned, peer-to-peer, e-commerce marketplace. The OmniBazaar ecosystem includes its own built-in cryptocurrency , 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.