A truly democratized marketplace driven by demand, supply and value added services is not easy to come by in a traditional setting. Currently most of the services are offered by businesses and companies, leaving individual service providers with a very small market share. But by creating a levelled playing field for the service industry, every one irrespective of their stature will be able to offer their services to the huge market, solely based on their expertise and experience.
The innovative approach was first put to practice by OpenBazaar, which made it easier for everyone to sell online for Bitcoin. The truly decentralized blockchain based marketplace has influenced another services oriented marketplace to opt for a blockchain based model with its own cryptocurrency. Arcade City, which started as a Bitcoin accepting peer to peer ride sharing application in direct competition with the likes of Uber and Lyft has unveiled much bigger plans. The platform will no longer be confined to rise sharing, but will include all peer to peer services including peer to peer delivery services and short term home rentals.
In order to put its plans to work, Arcade City is currently in the process of building a whole ecosystem using Ethereum Blockchain. The Arcade City platform will also have its own blockchain based economy integrated into it in the form of Arcade tokens. As Arcade City’s developers continue to build the ecosystem, the platform is currently running a crowdfunding campaign through an ICO. The ICO, started on November 1, 2016 will go on till the 28th of this month. As a part of the campaign, the platform will be offering 84,000,000 of total 100,000,000 ARC tokens to investors.
Investors can purchase ARC tokens with Ether. After the investor transfers the funds to Arcade City’s ICO wallet address, the platform will be crediting the investor’s wallet with an equivalent of ARC tokens on a later data after the completion of ICO. These tokens will also be available for trading on some of the leading cryptocurrency exchange for trading as well. Arcade City has already announced the platform’s detailed development road map in its recently released whitepaper, available for download on the website.
Finally, the end product will be a combination of blockchain technology open source development, platform cooperativism and a decentralized ‘swarm’ organizational model. One can learn more about the Arcade City ICO here.