Details

OmniBazaar (the marketplace network) was designed to have the form of a Distributed Application or  Distributed Autonomous Corporation (DAC), also sometimes referred to as a Digital Autonomous Organization.

In other words, the peer-to-peer marketplace will essentially be "owned" and operated by its users, and by the holders of the marketplace cryptocurrency (OmniCoin). Marketplace services, such as publication and storage of listings, escrows, transaction processing, privacy, moderation of content, support, and other services, will be provided cooperatively by the users of the marketplace network. Users will pay small financial rewards to these service providers in the form of micro-payments included in each transaction.

OmniBazaar, Inc. (the company) was organized to create and maintain the software for the marketplace. We are raising funds now to finish development and distribution of the OmniBazaar and OmniCoin software. The role of OmniBazaar, Inc. in the marketplace will be limited to maintaining and improving the software through which users access the marketplace.

The technology built into OmniBazaar and Omnicoin will enable the following features:

  • Smart Assets -- Users will be able to list in the marketplace assets, the ownership of which will be trackable and transferrable through the OmniCoin blockchain.
  • Multi-Sig  -- We have designed a distributed escrow system using multi-signature transactions.
  • Incentives  -- OmniBazaar users will be able earn monetary rewards by providing various services in the marketplace, not just mining.
  • Reputation -- We have developed a reliable, tamper-proof reputation system to provide purchase protection and security in the marketplace.
  • Exchange -- The technologies listed above will allow us to create a secure distributed cryptocurrency exchange.

The revenue model for OmniBazaar, Inc. is to receive a small (~0.5%) "software maintenance fee" from each marketplace transaction. 

We are currently seeking development funds from our Private Placement Offer to complete and distribute the OmniBazaar and OmniCoin software.

For additional technical details about OmniBazaar and CryptoBazaar, download our white paper (PDF) here.

Components

  • Cryptocurrency Exchange +

    Targeted for release in 2021, the CryptoBazaar module will provide a secure, private, peer-to-peer marketplace for buying and selling cryptocurrencies. Buyers and sellers will exchange cryptocurrencies among themselves, with the

    …     Read More

  • Peer-to-Peer +

    OmniBazaar is a private, cooperative, internet marketplace composed only of its users. Users deal directly with other users through a revolutionary peer-to-peer marketplace network, with no central site . There is

    …     Read More

  • Escrow +

    If a user does business with someone who is located in another state or country, the included OmniBazaar Escrow Module provides access to escrow agents — other OmniBazaar users — who can

    …     Read More

  • Privacy +

    Today, every online shopping site is run by a “middleman” — a big internet e-commerce company or retailer. When you buy or sell at one of these sites, they keep track

    …     Read More

  • Cryptocurrency +

    OmniBazaar users buy and sell directly among themselves without using credit cards, or even having a bank account. Payments in OmniBazaar are made using a new type of money called

    …     Read More
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Latest News

  • OmniBazaar Marketplace has Launched +

    The official "production" version of OmniBazaar and OmniCoin launched at 0:00 (UTC/GMT) on 31 October 2018. SOFTWARE INSTALLERS FOR WINDOWS,… Read More

  • Andreas Antonopoulos Educates Canadian Senate about Bitcoin +

    Two hours long, but worth every minute. Read More

  • Why Bitcoin Matters for Bankers +

    "American Banker" magazine's feature story for March 2014 discusses in detail what Bitcoin is, how it works, and why it… Read More

  • OmniBazaar White Paper Released +

    The OmniBazaar/OmniCoin White Paper is now available in 13 languages in PDF format via this link. Read More

  • Could Bitcoin Be as Transformational as the World Wide Web? +

    In this video, Richard Brown, IBM Executive Architect for Banking and Financial Markets Industry Innovation, argues that Bitcoin's true significance… Read More
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