According to the World Bank, half of the world's population -- over 2.5 billion adults -- do not have a bank account. This makes it almost impossible for them to participate in any form of e-commerce.
Almost every e-commerce site on the Internet (think eBay and Amazon) currently requires shoppers to have a bank account or credit card to purchase goods or services online. Similarly, sellers must have bank accounts in order to receive payments through the e-commerce site. This effectively bars half of the world population from doing business on the Internet.
OmniBazaar is different. Buyers and sellers transact business using Bitcoin (and other cryptocurrencies), without credit cards, bank accounts, credit checks, monthly fees, or any other the other obstacles that have previously prevented individuals and micro-business from buying and selling on the Internet.
OmniBazaar sellers and shoppers come together, and deal directly with each other, in a virtual "bazaar" with no central host. Because there is no central host (think eBay and Amazon), up to 80% of the costs of listing and selling are eliminated. This removes yet another barrier for the "un-banked" billion, making it more profitable and practical to do e-commerce.
Help build the world's first cooperative, distributed, "un-banked", digital marketplace. Tell your friends about OmniBazaar. Like us on Facebook, and follow us on LinkedIn and Twitter. Accredited investors please see (and "follow") our profile and private placement offer on AngelList.