What Is Public Market?
Public Market is a new blockchain company that is looking to restore the potential of commerce with the creation of a marketplace that is open, transparent and really competitive. The creators of this company believe that the eCommerce model that we, as a society, are using now is completely broken.
According to the company, it took less than two decades for some platforms to take more than half of the online retail sales. They charge big fees and commissions and force the sellers to drive the prices up, which ends hurting the consumers.
Because of this, the Public Marketplace was created as a decentralized alternative to this business model that is not any good for the customers and the sellers, only for the owners of the marketplace.
How Public Market Blockchain eCommerce Protocol, PTRN Token Rewards Works
Basically, the main idea of this company is to use the blockchain technology to build a decentralize alternative that could be used on the market to take the monopoly off the hands of the companies that basically own this market right now.
By using the blockchain tech, Public Market will replace these companies and use an open architecture that will dramatically lower the costs for both the buyers and the sellers of online merchandise and will make their businesses grow more.
How will this company actually win, though? By creating a platform that offers convenience and no fees. That’s right, the Public Market’s main goal is to is to charge no fees or commissions at all from the professional merchants. Why? Because this way they can really be free to use the platform and will not have to worry about high fees never again.
The sellers will be able to ship their goods to the whole United States and the buyers will pay in the way that is more convenient for them. You will be rewarded for sharing your data with the company (because your data will be really yours) and the companies will be able to send blockchain rewards to their customers to get their loyalty.
Public Market has decided to create an architecture for open eCommerce by connecting the public inventory with the public catalog. This way, the information about the products can be decentralized and considerably more transparent than it is in many of the eCommerce platforms that are appearing right now.
The two main goals of the company with this move are to protect the clients against fraud and creating a universal platform that you can really trust. The other objective is related to rewarding the buyers and the sellers for participating in the platform and making really profitable for them to continue to do it for a long time.
Who Is Behind Public Market?
The personnel that makes up the leadership team of the company is composed by KJ Erickson (co-founder and CEO), an entrepreneur with more than 14 years of experience and Kanth Gopalpur (co-founder and Chief Strategy Officer) which has been involved in eCommerce since the 90s.
The CTO of the company is Anthony Nystrom, the chairman of the board is Xavier Helgesen and Robin Jones acts as the Chief Operating Officer. Nick Zhebrun and Peter Gumeson are both engineers and developers of the product. The advisors of the Public Market team are Neel Grover, Jonathan Zabusky and Steven Waterhouse.
Public Market Conclusion
This looks like a nice new eCommerce platform. There is a large number of new eCommerce marketplaces appearing these days and most of the newer ones use the blockchain technology, so we have to say that the Public Marketplace will have a rough time to carve its place in the market. That said, the company definitely seems to have some potential.