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Ask HN: Is web3.0 or Blockchain tech likely to disrupt centralized marketplaces?
7 points by beerglass 3 months ago | hide | past | favorite | 8 comments
Centralized marketplaces often tend to optimize the profits of the corporation running it rather than the experience of the buyers & sellers participating in the network. Can new decentralized marketplaces be created using blockchain technologies, especially for digital services that do not have huge offline logistics? Can decentralized networks connecting cab drivers and commuters, educators and students, artists and audience, etc. solve the trust issues better than traditional web2.0 companies?

I am currently working as researcher and software dev exactly in this field, this is my personal opinion:

Nope. At least not at the current market conditions.

Almost ALL the clients and institutions with which I have collaborated like lot of things about web3 and blockchains, but in the process of finalizing the requirements they end up disliking a lot more of them.

Like almost everyone wants a way to revert transactions easily and very fast by a "controller" entity managed by themselves. They want advanced fraud prevention. They want a way to recover private keys (wallets) for their clients or to manage those directly themselves. They want a way to manage whatever there is in those wallet for various security purposes. They often want to collect a lot of personal information which require a strong synchronization between what there is in the bc and a very large db. They want transaction costs to be almost nil with nonsensical transaction volumes. Etc etc

All these things are hard to do using blockchains, but possible in some way or another. The problem is that the result is often a bastardization of what a blockchain is, with lot of extra slow, sync and cost factors. So you end up with just another centralized and very inefficient solution that most of the time would be far better just removing the whole blockchain concept from the project.

In the last three years probably I can count just ONE project which was truly a good match for a bc solution (and was not strangely requested by a local association of no-profits for a local-economy solution), another dozen which were hard bastardization, and a lot of others which we just refused to implement because they were absurd proposals, even if the clients put a lot of money on the table.

My contacts in the same field feel all the same.

No. Most people want good services and products, they don't care about decentralization.


As a consumer i want to get stuff i want quickly and get refund if i'm not happy. Amazon solved it, even though it's ridden with fake reviews and fraud. This is lesser evil many can live with.

However, as an investor or business builder I want full control over my resources, finances, investments, business values, risks and rewards.

That's where the governments tends to put too much nose in.

And that's where decentralization can totally help to make outdated, expensive, controlling and abusive financial and taxation systems obsolete.

Everyone in this thread so far says no. Existing marketplaces and companies have solutions to their problems. You need to look at important problems that can not be solved with standard tech and are trivially solved with web3 or blockchain. There are many examples if you look hard enough.

I worked for a marketplace and had a day per week to work on whatever shenanigans I wanted.

So I built an equivalent marketplace based on an etherium smart-contract, web3 and all the decentralized stack. It was just a tech project but got some interest internally to see if there is any future in it.

TL;DR: No.

No one wants to make a marketplace even more expensive by paying for gas when you buy or place a bid.

Prices, speed, customer support and trust (in the brand name) are what drive people to use a platform or another. Blockchain tech doesn't add anything to that space.

ETH is not the only smart contract game in town.

It is being crashed by their own unscaleable, misdesigned weight and picked apart as we speak.

Large ETH ecosystem shows the level of demand in this space, but not the necessity to use ETH.

No, I don't think the database technology is what matters in marketplaces.

Capitalism never lets such thing happen without making it something that it profits itself first. I think the issue is not trust but exploitation, and such future without a central authority of eco, edu, tech and etc. can be attained ONLY via revolution not innovation

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