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The cryptocurrency market and blockchain technology are growing incredibly quickly. As a mode of payment cryptocurrencies, such as Bitcoin, have been used to buy real estate shop online or even used as a debit card. However the number of places where you can buy and sell goods using cryptocurrency is still quite limited.
It is only a matter of time, however, until marketplaces spring up where you can buy and sell goods online using cryptocurrency. Imagine an eBay or Amazon, but on a blockchain so that transactions are more transparent and decentralized. And instead of making dollars or euros, you’ll earn cryptocurrency such as Bitcoin or Ethereum.
One such promising blockchain marketplace is called Storiqa. In the Storiqa review below we take a closer look at this project.
Storiqa is a global marketplace based on blockchain technology for small-scale businesses. The beta version of the minimum viable product of Storiqa has been released and is up for users to test. The beta products showcase the vision that the team have in mind.
Their vision, which they laid out in a whitepaper, shows that they aim to create a marketplace based entirely on blockchain technology where one can buy and sell products or items in exchange for cryptocurrencies such as Bitcoin, Ethereum or the native Storiqa token, which has the symbol STQ.
The Storiqa platform is also designed to allow anyone to create an online store within 15 minutes, without having to know how to set up a website, be familiar with coding or pay large monthly and per-item fees, such as those Amazon sellers must pay.
Technology Behind Storiqa
Storiqa uses blockchain technology, which allows the platform to be completely transparent. A decentralized platform for a decentralized market is necessary and Storiqa, with its technology, provides it.
The blockchain technology keeps records of every transaction ever made, which can be terrific for sellers who want to analyze buyer trends and interests. Implementation of smart contracts make the transactions safe.
As of yet, the detailed technology of Storiqa has not been mentioned in their published whitepaper.
The Storiqa Team
The Founder and CEO is Ruslan Tugushev. He is also the CEO of Boomstarter, Russia’s largest creative online platform, and Tugush, an Investment Platform in Moscow, Russia.
The co-founder of Storiqa and the VP of the Marketing division is Evgeny Gavrilin, also a co-founder of Tugush and Boomstarter. Alan Wong is the Senior Vice President, APAC. He has marketing experiences from companies such as Huawei and Cable & Wireless.
Some of the advisors for the team are Paddy Tan, Austin Kimm, Peter Xu, Wolf Kaal, Apurv Mishra who are very experienced in blockchain and ICO projects. The Marketing & Financial Advisor is Aleksey Antonov. He has invested in 15 different ICO projects.
Storiqa Coin ICO – STQ Token and Where to Buy It
STQ, the Storiqa Token, has a market capitalization of over $60 million as of June 2018. The pre-sale registration just occurred and beta testers will get an airdrop of 150 STQ in July of 2018.
If you missed the airdrop, you can also buy Storiqa STQ on exchanges like HitBTC, TIDEX, Indodax, and HotBit using Bitcoin or Ethereum to purchase it.
Storiqa Use Cases
- Marketplace for everyone: Small-scale businesses will develop a lot after getting their own marketplaces online. The business will not have to worry about commissions or providing fees to the online transaction verification sites.
- True reviews: With the transactions being verified through the blockchain ledger, only customers who have actually bought the product will be able to upload reviews of the said product. This will help in keeping out fake and paid reviews away from the site, a problem which plagues sites like Amazon.
- International Reach: Since all transactions will be done through cryptocurrency, customers won’t be charged for international transactions. In return, the transactions will be faster, more secure and with almost zero fees.
Is Storiqa a Good Investment?
Storiqa’s blockchain-based marketplace will allow anyone to buy and sell goods using cryptocurrency. While this project is still in the very early stages it is an intriguing idea and it will be exciting to watch its development and how it unfolds.
It is much too early to really know if the project will succeed, but if it succeeds in what it is attempting it could very well be a competitor with sites such as eBay and Amazon. If this turns out to be the case, we will all wish we had at least invested a little bit into Storiqa STQ tokens.
However, at the present time, until we see further development, one might wonder, is Storiqa a scam designed to simply get money from unsuspecting purchasers of the STQ token? Time will tell.
If you want to be a part of the Storiqa project, buy some STQ tokens or check out the beta version of their marketplace at beta.storiqa.com.
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Dave Starkax built his first computer when he was 8 years old and has never looked back. Dave built trading platforms for the exchange of video game digital goods beginning in 2001. When he read the bitcoin whitepaper in 2011, he recognized it as a solution to the biggest problem his industry had been facing for over a decade. He joined Do Cryptocurrency upon meeting the founder and learning about his inspiring mission for the crypto community.