Blockchain-based marketplace ventures into classifieds


BlacqMarket CEO Tim Hogins.

Blockchain-based online marketplace BlacqMarket has evolved its business model to introduce a classifieds service that offers buyers and sellers protection against online scams.

Introduced in April, BlacqMarket initially allowed SMMEs and established businesses to list their products and services online, including professional service providers such as plumbers, electricians, handymen, etc – helping to increase their access to earning opportunities, especially during the lockdown.

It is now expanding to target any person wishing to sell any item online, after integrating blockchain-based escrow technology called BlacqPaye, to protect the buyer and seller against online scams commonly found in classified advertising and e-commerce platforms, it notes.

Cyber fraud is witnessing an unprecedented rise across local marketplaces, with business owners telling ITWeb…

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