Hagglin is a one of a kind peer to peer market place and logistics platform where you can trade in a mixed barter and cryptocurrency environment, to cut off not only the bank but also all middle men.
You could say that Hagglin itself asks as a middleman in this scenario, but since it doesn’t take any active participation other than in setting up escrows or managing the Hagglin Debit Card and the Hagglin cryptocurrency Ribbit itself, we can safely say that this marketplace actually has cut out the middlemen.
The fundamentals of this peer to peer marketplace are based on a barter system and the team has built the cryptocurrency environment around this system of marketplace and logistics.
Be prepared for the ICO of Hagglin to go live on October 31st, 2017.
Who Built The Froggy, And What Is It?
Hagglin was inspired when the patrons of the Founder’s hotel started trading goods for rooms in the good ol’ barter style. This gave smooth birth to the Hagglin App idea. The idea was born in 2016 and in the same year, Steve McHugh and Antonio Palazzola, the hosts of the famous “The Barter Kings” show on A&E, joined the team with their vast experience in running the largest pawn shops in the U.S.
Haggling then partnered with Farshore.com and with 8 in-house MIT grads to start building the Hagglin.com website and the prototype for the mobile app. They also partnered with coinfabrik.com to begin developing the decentralized Ribbit Tokens built on the Ethereum blockchain.
Haggling on Hagglin
The Hagglin app is a peer to peer marketplace where you can sell or buy goods on a mixed barter and currency system.
The app is easy to use. You can just browse through the various categories of products on offer from your peers across the country. When you see something you like, you can haggle for the item, and while at it, you can offer something of value you have in your possession to the user on the other side of the exchange. If the sale is settled with both the peers seeing the items as having an identical value of exchange, you can complete the sale with a pure barter system.
In cases where you don’t see that the item the other user has offered doesn’t really have the same value as the item you are trying to offer, this is where the Ribbits come in. You can use this cryptocurrency to equalize the trade.
The logistics part comes in when people travelling from one city to another can offer to bring the bartered items to your doorstep in exchange for Ribbits for their service.
You can use the Ribbits to buy items directly, as well.
Ribbits can be traded for Bitcoins in the cryptocurrency exchange of your choice, or in the Hagglin App itself.
Is It Smart To Use Hagglin?
The Hagglin team has vowed that they will not be like the multitude of ICOs where the promoters dump the coins on the coin holders and then don’t look after their interests. In order to ensure this, they have a Smart Contract in place.
The Smart Contract is basically a loyalty program that offers redistribution and rewarding of the 30% savings that the Smart Contract achieves among token holders who do not sell up to 42.85% more tokens.
Hagglin also will issue Hagglin Debit Cards which can be used in shops that accept Ribbits for payment. Blending the card with the blockchain asset seems like a smart move on the part of Hagglin.
The rest comes down to the ingenuity of the marketplace itself. Pawning items for money is an already booming industry and cryptocurrency and the blockchain can completely revolutionize the industry by removing all the middlemen from the process.
We think there will be many people who have some things to haggle for when the app goes live, but it will take some time before we can say where the fate of Hagglin will end up.