BitBoost is a company developing an online marketplace based on blockchain technology. This e-commerce marketplace, called “The Block,” will run on an Ethereum-based cryptotoken known as the BitBoost Token (BBT). BitBoost has just completed its initial token offering as part of its crowdfunding efforts to get The Block off the ground.
Based in Switzerland but with a team of global developers, BitBoost was founded in 2017 by developers Paul Mahone and Andrew Lekar and marketing executive Samuele Maran. All three boast long work and education histories in their respective fields on their LinkedIn pages, with Mahone in particular being a graduate of Harvard University with an advanced degree.
Besides the core founders, the BitBoost site reveals nine other other developers working on the project and three additional advisors. All these individuals have LinkedIn profiles that can be explored for anyone interested in examining the qualifications of these staff.
BitBoost’s core product, being developed partly thanks to the crowdfunding efforts of its BBT token sale, is The Block.
According to the company, The Block is destined to be a multi-platform e-commerce app that allows individuals to buy and sell products and services over the internet using the Ethereum cryptocurrency. Site registration will be free and all user information is encrypted and can be further anonymized, and there are built-in filters for individuals who do not wish to buy or sell questionable or illegal products.
BitBoost takes great lengths to explain that while user data is encrypted, The Block is a public blockchain and that buying and selling illegal products is not recommended.
There are no fees for anyone who makes a sale or a purchase on The Block. The only fee that BitBoost will charge is $1 worth of BitBoost Tokens per listing. Purchases of either BBT or items for sale on The Block are exclusively in Ethereum, which can be transferred in from an existing ETH wallet or can be purchased through The Block via Bitcoin.
The BitBoost Investment Opportunity
While the opportunity to invest in BitBoost Tokens may be over, as the company’s token offering has come to a close, BitBoost is holding free beta applications for individuals interested in familiarizing themselves with The Block. This beta test includes “free” test money, in both simulated Ether and BBT, to test drive the e-commerce site and ensure things are working properly.
Joining the free beta provides users with an excellent opportunity to learn more about the platform and how it works in a completely risk-free manner. While it’s true that there’s no direct benefit – at least not on a monetary level – anyone with ideas of using the platform to buy and sell goods and services in the future will undoubtedly benefit from learning the ins and outs of this platform as soon as possible, and in an environment that is completely safeguarded from failure.
BitBoost is one of those rare cryptocurrency projects that looks to be not only well-thought out but that has the potential to be successful. Unlike all too many scam ICOs, the token that accompanies The Block is not only based on the Ethereum blockchain but is also largely immune from so-called pump and dump schemes, as $1 USD worth of BBT is all it takes to list an item on The Block. In other words, BBT is not necessarily designed first and foremost to be an investment vehicle.
For cryptocurrency enthusiasts or those who value their privacy, BitBoost’s new e-commerce platform may be just what the doctor ordered. With wide enough adoption, The Block may prove to be a popular new online marketplace indeed.