The thing that has really excited me the most this year up to and including Consensus NYC was not digitized gold, it was not the infrastructural growth of Bitcoin, it was not the tokenization of real estate or the latest smart contact platform nor has it been the number of companies that were offering to build smart contract solutions on a blockchain for enterprises.
No, none of these have excited me as much as Particl’s Private Markets!
Oh, but ‘private markets’ you say, what does that even mean? Privacy is a big thing these days and I suppose it can mean many things. And isn't a blockchain sort of private anyway? And what’s so impressive about that?
In this series, I will explain to you why I think Particl’s Private Markets will cause a major disruption in the eCommerce world, both at a B2C but also B2B level. For this first part of the series, I will first introduce you to the concept of Private Markets and break down what makes them so special and so unique. Then, in the next parts, I will present you different use-cases of how these Private Markets will dramatically change some industries, for the better, and what it will mean for the global economy on a wider level.
So let me rephrase this somewhat. I think the most disruptive force to enter not just the blockchain space but also the global eCommerce and international trade space is the ability to create infinite, online, private marketplaces the existence of which are only known to those who possess the respective “viewkey” for any specified marketplace.
In these private markets, vendors and buyers can transact for goods and services that are only visible within that private market, to a specific group of users, and for a specific time period.
The settlements for all these private marketplaces will be occurring on a combined distributed ledger using a native currency coin where all transactions are fully anonymized to hide the identity of the transacting parties as well as the amounts being transferred. Every other personal information or generated data is also entirely anonymized as a way to prevent data mining and abuse. Settlements on Particl’s Private Markets will also be occurring in such a way that no third-party or intermediary is required at all.
Maybe you’re asking yourself how will such a trustless system prevent a party from trying to screw the other party over, either by not sending the payment after a product is shipped, or by shipping a faulty product (or not sending it at all) after receiving payment.
Settlements on Particl will employ a two-party only escrow system which requires both buyer and seller to put a security deposit which will only be refunded after both parties agree a transaction has been completed satisfactorily.
Particl’s Private Markets aren’t operated by any company, person, or party. As a matter of fact, transaction settlements happen on a privacy-focused blockchain which shares all the universal benefits usually associated with this technology, namely security, validity and authenticity of all transactions and the absolute takedown resistance of the network itself by virtue of it being distributed and verified simultaneously on thousands of computers worldwide.
And the icing on the cake? The network for these transactions is built in such a way that it can directly interface with other blockchain networks to allow direct currency exchange without the need for a trusted third party currency exchange service.
So do you now see the potential of this network in the same way that I do?
Yes? No? Did we arrive at the same or similar answers?
This series will be going over many working examples and case studies and use cases for such a private, global eCommerce network. This could include:
* International pharmaceuticals arbitrage
* Protection and masking of manufacturing supply chains from competitors
* Shielding production processes for sensitive intellectual property and research from those who might be attempting to steal it
* 1:1, 1:2, 1:Many OTC trading markets for financial instruments
* Getting aid from NGOs and charities to the right people in the places it is needed
* Restricting human trafficking and the flow of illegal goods
* Allowing vendors of general eCommerce goods to reduce prices whilst improving margins through the absence or eradication of commission fees
I'm really excited to present this series to you as what I'm outlining represents an ethical revolution in global trade and commerce. It will provide a significant justification for the existence and potential of cryptocurrencies to assist in driving global liquidity, trade and value growth.