Cryptocurrency has revolutionized financial systems around the world, providing consumers with new, instant, and low cost ways to pay for goods and services as well as transfer money. The biggest advantage offered by cryptocurrencies is the way they are able to deliver an instantaneous, verifiable transfer of value between two parties with minimal fuss and without the high costs associated with third parties.
There are many industries that can benefit from this form of decentralization, and many different applications of blockchain technology. Initial coin offerings, or ICOs, provide disruptive blockchain tech startups and innovators with a powerful way of crowdsourcing the capital needed to launch groundbreaking platforms, as well as allow investors to contribute to the development of new technology.
One of the most interesting and unique ICOs to launch recently is the Ditch It platform. Ditch It aims to bring classified listings onto the blockchain. In this article, we’ll take a look at the Ditch It solution and find out how it works to help you determine whether it’s worth investing in.
What Is Ditch It?
Ditch It is an innovative new decentralized classified ads platform that uses blockchain technology. The Ditch It platform is intended to democratize the buying and selling process, redefining the ways in which individuals sell and purchase unwanted goods from one another.
Ditchit supports an extremely broad spectrum of cryptocurrencies, and makes it extremely easy to generate crypto by selling things that aren’t needed. The Ditchit solution allows users to search for goods on a location basis, identifying secondhand goods in their immediate area, as well as services that can be delivered by a classified ads platform.
Encrypted communication between buyers and sellers ensures maximum security and privacy. Interestingly, the Ditch It platform also provides buyers with crypto back bonus rewards. Like most classified platforms, Ditch It plans to allow users to bump their ads and promote them further with the use of credits, as well as post video of goods they want to sell.
How Ditch It Works
In order to use the Ditch It marketplace, users are required to create a Pure-U account, which incorporates advanced facial recognition technology in order to confirm the identities of users. After meeting, users simply scan the QR code of the user that is selling the item in a similar manner to most smartphone-based wallet solutions, and the transaction is finalized.
The Ditchit app will be available on the 1st of November. The Ditchit ICO is currently underway, and has already raised a significant amount of capital from hundreds of interested crypto investors. Ditchit are also offering several bonuses during their token sale, with three different tiers of wallet offerings that include free t-shirts, additional platform credits, and cash back bonuses.
Ditch It Conclusion
The Ditch It platform is a unique take on bringing classified ads to the blockchain, and benefits from the added advantage of biometric facial recognition security features. While it has been historically difficult for internet based platforms to create a currency more convenient than fiat cash as a medium of exchange during secondhand goods sales, the additional security and transparency offered by the Ditch It platform may have what it takes to succeed where others have failed.