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Bitcoin Marketplace OpenBazaar Is Coming Back

Decentralized marketplace platform, OpenBazaar, which allows users to buy and sell goods without the need for a central authority, is returning after two years. OpenBazaar closed due to dried up funding in late 2020, but CEO Brian Hoffman confirmed that the platform would be rebuilt, although he gave no further details. OpenBazaar was known for its unique approach to online shopping, providing a decentralized marketplace where users could buy and sell goods without a central authority. The platform enabled users to have more control over the goods sold, and merchants were able to set up shops and accept cryptocurrencies for their goods. The OpenBazaar website has been updated to say “OpenBazaar 3.0 – coming soon.” The founder of OpenBazaar described its purpose as a free and open protocol for trade using cryptocurrency, providing an entry point for people to earn and onboard, as well as creating meaningful economic utility for currencies and tokens. Following the shut down, OpenBazaar suggested that structural changes would be necessary to ensure greater control of the marketplace by the community and away from the company that initially created it.

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