The P2P market places have grown especially with the adoption of blockchain and crypto technology. Listia, one of the upcoming P2P markets, recently launched ‘Replin’ beta to the public for interested clients to leverage the services.
This project is however ahead in the game due to a feature within its ecosystem that allows users to save their reputations and use the ratings for other networks.
Replin is designed to facilitate transactions and other services such as feedback within Listia’s ecosystem. Furthermore, the project stores this data on Ink protocol, a blockchain network that allows users to maintain their reputation. The network is built for reputation reference and gives no access to 3rd parties owing to its blockchain nature.
Most P2P markets today store user feedback within their ecosystems making it hard for traders to assess new counterparts.
This shortcoming might hinder transactions simply because there is no trust; an issue that can be solved easily through the Ink protocol technology. The Ink protocol ecosystem is accessible by all merchants in P2P spaces that have integrated this innovation. Basically, one can simply check the reputation of a buyer or seller regardless whether they have engaged the network previously.
Chuang Gee-Hwan, Listia’s co-founder and Chief Executive officer, emphasized that the Ink Protocol tech simplifies the screening process for traders. He added that this would go a long way in creating trustable P2P market places hence increase the market share of online shopping through blockchain technology.
In summary, Replin increases the scope of potential market places for both buyers and sellers. The platform presents an opportunity to engage in trades informed by reliable screening based on Ink protocol feedback data.