Decentralized e-commerce applications like The Block are the next evolution of buying and selling on the internet. The Block team envisions a world in which free trade is available globally, regardless of your nationality, what language you speak, or what type of currency you use.
The buying and selling process of an online store today is riddled with fees, privacy invasion, and inefficiencies. A seller pays a listing fee, the store takes a percentage of the profit, a third-party payment processing system (like PayPal) charges buyers a usage fee and sellers a withdrawal fee, and your information is easily accessible to all companies involved. Conversely, The Block charges a $1 USD listing fee. Further, since all transactions are managed by smart contract, there is no need for third party payment processing, and there is no need for your information to be shared with anyone.
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By Research Team