Crypto

Decentralized Marketplace Based on IOTA Wins Coronavirus Hackathon

As the coronavirus crisis continues, numerous projects and companies want to offer  a helping hand. During the previous week of the CODEVID19 Hackathon, an application based on IOTA technology took first place.

The coronavirus crisis has certainly highlighted many shortcomings in society.

IOTA Technology x Coronavirus

Especially when it comes to logistics and technology, there are many aspects that need to be improved upon. 

There are also ample questions regarding governments and leadership, but that is a different story.

One Hackathon, dubbed CODEVID19, is designed to leverage blockchain and other technologies to aid during the COVID-19 crisis.

Last week, an application known as Open Marketplace took first place.

This solution is built on IOTA technology and provides a decentralized marketplace.

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Its main objective is to connect local businesses and traders.

This will, in turn, strengthen local trading and domestic economies.

Taking on the likes of eBay, Amazon, and others will not be easy, however.

Through Open Marketplace, users can communicate, post sell offers, and provide information regarding overall developments.

Vendors can set their own prices and do not pay posting fees or other transaction costs. 

There is also an option for delivery requests, estimated times of arrival, et cetera.

An interesting example of leveraging IOTA technology to solve a global pandemic.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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