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E-Commerce on Demand: Crypto-Based Site With 50,000 Products Offers Delivery in Two Hours

A decentralized marketplace offering e-commerce on demand has launched with 50,000 items, enabling shoppers to have products delivered in less than two hours.

A decentralized platform offering “e-commerce on demand” is launching, and says it has the ambition of enabling shoppers to have online orders delivered in less than two hours — with food shopping arriving at their door in 30 minutes. says its service will initially be available across six zip codes in New Jersey, providing customers with a choice of more than 50,000 items. A center in the town of Mahwah is going to monitor the platform’s progress, and the startup has bold ambitions to roll out across the state and nationwide in the months that follow.

Customers can make their orders through the website, and the company says that apps for Android and iOS are in the process of being approved by the app stores. Two other apps have also been completely developed for drivers, enabling them to fulfill orders quickly and with precision. says the launch of e-commerce on demand comes nine months ahead of schedule, and it describes the service as the company’s “holy grail.” Over time, it aspires to become a household name, a crypto alternative to the online behemoths offering same-day deliveries.

Benefiting businesses says it wants to enable businesses at all stages of the e-commerce supply chain — retailers, distributors and suppliers among them — to pool their orders together so they can satisfy minimum order quantities and enjoy greater discounts on a product’s price. Not only does this help keep profit margins healthy, but it also enables businesses to offer compelling discounts to shoppers — better insulating them against online giants.

From the consumer’s perspective, hopes that its app will enable the public to access items “from a much wider range of suppliers than is currently available in the centralized e-commerce market,” and access better bargains than they can now.

New technology

The company is hoping to “develop the world’s first vertically integrated blockchain platform,” and wants to drive engagement from shoppers by offering a limited number of “high-quality discounts and promotions” on a daily basis. These deals are also going to be targeted toward users based on their interests and previous purchases and will be time-limited to help boost sales from consumers eager to snap up a bargain.

Through its platform, “social sharing” will be incentivized, meaning the number of deals made available on social networks will increase as gains exposure. added: “We will ultimately level the playing field for existing e-commerce stores, allowing them to compete with the likes of Amazon, Walmart and other major retailers. The app serves both as a business-to-business and business-to-consumer platform, harnessing the power of the masses to offer direct product pricing on millions of goods.” is available here

Localizing shopping again

Localization is a big emphasis for, and the platform says that consumers will be more willing to spend their hard-earned cash with small businesses in their area if they can offer the same pricing and convenience as online behemoths.

To enable hyperlocal deliveries to take place within two hours, the company is doing away with the notion of expensive, centralized warehouses that stymy the flow of products and increase costs. This would be achieved by paying the owners of empty spaces — such as garages and storefronts — to become “distribution nodes,” creating a dependable network where small businesses can store their stock and drop it off to shoppers quickly.

The platform also hopes to tackle some of the other issues that have been blighting the industry, such as the chargebacks that cost retailers billions. Its Prime-Protect technology gives merchants access to an escrow service, in which funds are released when a customer receives their item and is happy with their purchase.

A sale of BUY tokens is currently taking place. As well as being used for making purchases and paying micro-distribution centers and deliverers, these tokens will serve as a reward mechanism for shoppers.

Over time, plans to integrate two million products into its platform.

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Decentralized Exchanges Aren't Living Up to Their Name – And Data Proves It

Some say a “decentralized exchange” is an oxymoron. Perhaps not, but for now it’s not much more than an aspiration.

Over the past year, dozens of cryptocurrency trading platforms have marketed themselves as decentralized exchanges. While models vary, the term implies they allow users to trade on a peer-to-peer basis, and more importantly, without using a platform operated by a single entity.

The main selling point is that unlike today’s better-known crypto trading platforms (think Coinbase, Kraken or Binance), a decentralized exchange shouldn’t require traders to store their money with a third party that can be hacked. Yet while “DEX” has been a hot buzzword, it’s been unclear how decentralized they actually are.

Early indications, however, suggest they’re not living up to their name yet.

According to data collected exclusively for CoinDesk from July 2 to July 12 by the ethereum analytics firm Alethio, as well as interviews with market participants, what decentralized exchange models actually offer is a spectrum of technologies with varying degrees of centralization.

Some attempt to decentralize a traditional exchange company, such as the Huobi Chain Project announced in June, while others seek to build a community with stakeholders around a peer-to-peer model, like 0x.

“Decentralized exchanges are making headway toward the re-elimination of central parties in that [crypto trading] system,” said Wall Street veteran Jill Carlson.

But they still have quite a ways to go.

Alethio data analyzing DEXs from July 2-12.
Note: RadarRelay is a 0x relayer.

For example, Bancor was itself the only market maker on its decentralized platform, where it facilitated roughly 9,691 token swaps between 1,147 traders over the two-week period, Alethio found.

That lack of diversity compounds a problem with the “decentralized liquidity network,” highlighted by the steps Bancor took to address a recent $13.5 million hack. Specifically, Bancor’s freezing of funds, an action allowed by a mechanism in its code, prompted criticism that the platform was, for all intents and purposes, no different than its centralized predecessors.

“You’re not a ‘decentralized exchange’ if you’re taking away other people’s tokens whenever you want,” tweeted developer Udi Wertheimer.

Decentralized how?

One problem with talking about decentralization in this context is that it can be measured in different ways. An exchange platform might be highly centralized in one dimension but quite decentralized in others.

Take, for example, 0x. During the two weeks tracked by Alethio this open-source protocol that relies on independent relayers for token trading, had 914 market makers facilitating 9,017 trades by 234 traders – already head and shoulders above Bancor in the diversity-of-participants department.

However, those trades are funneled through a much smaller number (17) of “relayer startups.” Each relayer has its own business model, and the majority of them use their own proprietary software built on top of 0X, rather than purely open-source code that anyone can inspect.
And while 0x isn’t responsible for compliance with regulations, its relayers are. So it’s hard to call this type of DEX leaderless.

One of those relayers, Paradex, was acquired in May by Coinbase, a company that many in crypto would call the quintessential centralized exchange.

To be fair, though, it could be argued that the 0X ecosystem is arguably more decentralized than other exchanges in the way that counts the most.

“It’s different from a centralized exchange because these relayers are not holding user funds at all. They are completely non-custodial,” Amir Bandeali, CTO of 0x, told CoinDesk. “We have seen a lot of relayers starting to make open source market-making tools.”

For Carlson, who works as a consultant to 0x, the term “decentralized” should primarily apply to non-custodial trading platforms. As such, she believes hacks such as the Bancor theft point to the dangers of centralized custodians, telling CoinDesk:

“When we talk about decentralized exchanges, the primary threat that people are concerned about today is custody.”

Early days

Stepping back, it’s important to remember that the DEX market is in its infancy, and so the volume is still pretty low.

Indeed, among the DEX platforms analyzed by Alethio, the most popular was IDEX, an exchange developed by the fintech firm Aurora, which facilitated 69,339 swaps between 12,400 traders during the two-week period.

Compared to centralized Bitfinex, which facilitated roughly 92,024 trades in just two days, from July 9 and 10, according to CoinDesk’s analysis of its trade history, IDEX’s volume is a tiny drop in the niche bucket.

Marshall Swatt, founder of the institutional crypto asset exchange Swatt Exchange, argued that decentralized exchanges are merely “a fancy form” of over-the-counter (OTC) trading that won’t be able to scale. He told CoinDesk:

“I just think the lack of fiat on-ramps, the lack of governance, and the lack of compliance, are going to relegate decentralized exchanges to the margins.”

Swatt, who previously co-founded the New York bitcoin exchange Coinsetter then sold it to Kraken in 2016, warned against underestimating the difficulty of managing compliance, security, and customer support, business departments that may not fit bitcoin’s grassroots model.

“You’ll never have the level of liquidity because it will never attract the algorithmic traders,” he said.

Indeed, most DEX models only allow users to swap one cryptocurrency for another, which keeps newcomers to crypto, whether they be institutional investors or first-time buyers, at bay.

Carlson agreed it’s hard to imagine decentralized order books, market makers, or know-your-customer identity checks. These are all core pillars of most popular exchanges.

However, in her view, it’s an oversimplification to say DEX is merely glorified OTC.

“The difference here, at least today, lies at the settlement level, not at the execution level,” Carlson said, speaking to how some DEXs allow P2P settlement without third party oversight or custody. “What you end up with is an experience that is disintermediated.”

DEX fever

Indeed, none of the shortcomings of current decentralized exchanges have quelled the DEX fervor sweeping the industry.

Speaking to the Paradex acquisition, Scalar Capital co-founder Linda Xie, a Coinbase alum turned hedge fund manager and 0X advisor, told CoinDesk demand for non-custodial P2P platforms could inspire centralized incumbents to offer DEX options as well.

Indeed, Bloomberg reported the long-established exchange Binance wants to “decentralize” itself. So does the legacy platform provider Huobi, which announced in June it’s offering roughly $166 million to a fund for contributors to the upcoming Huobi Chain Project, which aims to establish a decentralized autonomous organization (DAO) and eventually incorporate parts of Huobi’s exchange.

“We’re not 100 percent sure if a corporation can be 100 percent autonomous,” Gordon Chen, Huobi Chain Project’s executive leader, told Coindesk. “We’re not sure if it can be 100 percent decentralized either. But we believe there can be some kind of balance in between.”

Although granting businesses more sway than users on Huobi’s voter-driven exchange HADAX sparked backlash, a few hundred people already applied to build the project’s public blockchain.

Along those same lines, Bancor co-founder Eyal Hertzog tweeted that his project is also on a “pathway to decentralization.”

Alethio’s data suggests that so far platforms with more straightforward P2P models have achieved more diversity of participants, even if they have so far gained less traction. For example, during this two-week period in July the startup AirSwap, which operates almost like a Craigslist for ethereum tokens, facilitated 695 swaps between 216 traders with the help of 60 unique market makers.

Such potential is why Xie remains optimistic about the prospect of DEXs, saying: “This is still just the start.”

Agreeing with Xie’s point, Carlson said the wide range of models offer a promising starting point for the further decentralization of trading platforms, concluding:

“All aspects of the spectrum have an important role to play.”

Man in maze image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Digital Marketplace Startup Completes $15 Million Token Sale

A startup aiming to build a decentralized marketplace has raised $15 million in an initial coin offering.

Listia, which is planning to launch its decentralized marketplace next month, drew funding from more than 4,000 people during the sale. Founded in 2009, the startup already operates a more traditional online market but is moving develop new services by utilizing the technology.

The company said that the sale ended in about 12 minutes after it hit the hard-cap of $15 million. Contributors to the sale include ConsenSys Ventures and Tetras Capital, according to CEO Gee Chuang.

The company also announced that it will launch its Ink Protocol on its marketplace on Feb. 28. On the same day, the site’s users will receive Listia’s native XNK tokens, which they can use to purchase or sell goods listed on the company’s website. Chuang said the launch will see up to 10 million users receiving XNK tokens.

The Ink Protocol aims to decentralize marketplaces by enabling users to establish their own credibility without fear of having their profile taken down by the website they are selling goods on.

Chuang explained:

“[The] Ink Protocol decentralizes marketplaces by allowing buyers and sellers to control their own reputation, choose any marketplace platform they prefer using, and safely pay for goods and services without relying on any central service provider.”

Listia wants to leverage the protocol as a way to allow users to list the same item on multiple marketplaces, with each listing changing as necessary if the item is bought – without requiring the seller to manually edit the listing’s information, as previously reported by CoinDesk.

Marketplace image via Shutterstock

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