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Coinbase's Wallet Service Now Lists Ink Protocol's New Payments Dapp

Ink Protocol, a decentralized platform for peer-to-peer (P2P) payments, announced Tuesday that its decentralized application (dapp), Ink Pay, is now available on Coinbase’s Wallet app.

According to a news release, the new dapp enables buyers to evaluate a seller’s reputation prior to making purchases – as well as leave their own feedback – and conduct transactions through third-party marketplaces using either Ink’s XNK token or ethereum’s ether. At some point in the future, Ink also said it intends to add a mediator or escrow function.

The XNK token is currently used as the primary form of payment for all transactions on its own marketplace, Listia, the release notes.

Currently, Coinbase doesn’t seem to offer its app store in all jurisdictions served by the Wallet app.

According to Gee-Hwan Chuang, co-founder and CEO of Ink Protocol, over three million “real-world items” have been listed on the marketplace using XNK.

Chuang told CoinDesk:

“Ink Pay enables secure buying and selling on any marketplace, while earning public, transferable reputation for each transaction. With over three million real-world items listed using XNK already, we are joining Coinbase in moving past speculation and ushering in the important utility phase for crypto.”

Ink Protocol’s founders previously raised $15 million in an initial coin offering (ICO) to power the Listia platform, as previously reported by CoinDesk. ConsenSys Ventures and Tetras Capital participated in the funding effort, among other firms.

Coinbase image via Shutterstock

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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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