Phore marketplace goes live with 'open beta' launch

Phore blockchain's decentralized marketplace that offers zero-fee transactions opens its doors to customers on March 25 with an open beta launch
21 March 2018   573

A private community-based blockchain Phore is set to launch open beta version of its marketplace on March 25 in full accordance with its roadmap. The marketplace offers zero-fee transactions of sale and purchase of goods. The marketplace itself is a fork of OpenBazaar and at the beginning will use centralized search engines to find new shops and stores. The company's ambition is to become a 'decentralized eBay' with every shop having its own digital address that uniquely identifies it with all of its data and allows customers to access these shops without the help of any centralized server.

Phore platform is actually a fork of PIXV blockchain, and features like advanced and flexible smart contract platform for building decentralised applications that can be used in conjunction with private transactions, custom blockchain creation services, etc are set to be developed along the way. Phore has its protocol in the form of PoS blockchain with its native PHR token. Users are rewarded with PHR for validating and maintaining transactions. Now, as all the transactions take place at the protocol level, Phore designed this decentralized and trustless trade platform. Atomic swaps are to be implemented, meaning that the users will be able to instantly exchange alternative digital currencies into PHR coins. By the end of 2018, Phore intends to start collaborating with 'offline' vendors to allow physical goods be bought at the marketplace.

Another major use-case of the marketplace is that it allows other projects to seek investments and hold crowdfunding campaigns. Using the platform and posting the relevant information on the project along with significantly lower fees, it adds an additional intriguing dimension to the marketplace overall.

Phore Blockchain is evolving into one of the most flexible ecosystems on the market with capabilities that will far surpass others. In addition to this, we are able to appeal to a broad audience that includes not only First World countries, but also developing nations. Through our decentralized marketplace and partnerships with providers, we will bring internet capabilities to unserved and underserved regions, enabling some of the poorest countries in the world to become part of the global economy. Later this year, we will launch a pilot program in an emerging market, giving people with little or no access to the digital economy the ability to buy and sell goods and services.

 

Anthony Alleyne

Co-CEO, Phore

At the time of publication, Phore market characteristics are as follows:

Average price: $1.60

Market cap: $11,485,033

Volume (24h): $19,762

South Korea to Invest $1B in Blockchain Startups

Blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution, local authorities believe
19 February 2019   93

Until 2022, Seoul authorities are investing 1.2 trillion South Korean won ($ 1.07 billion) in fintech startups working with distributed ledger technology. This is reported by CoinDesk.

Funds will be allocated for the development of new technologies through the Seoul Innovation Growth Fund, created last year by local authorities. The foundation will support startups working on various solutions, including those that are in the early stages.

In the first half of this year, the Fund will allocate 13.25 billion won ($ 11.75 million) and 8.4 billion won ($ 7.45 million) in the second half of 2019. For the Korean authorities, the blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution.

The officials also noted that the average investment per start-up at an early stage of development in South Korea is almost seven times lower than, for example, in Silicon Valley.

Last fall, Seoul authorities submitted a five-year development plan for the blockchain industry.