Cryptocurrency startup Peddler.com is the first crowd-buying marketplace that is revolutionizing shopping with digital currency
One of the challenges facing cryptocurrency adoption is finding businesses and stores that accept them. Of course, there are a handful of companies that accept cryptocurrency but they are minuscule by comparison. What about if there is a marketplace where anyone can buy from any business using cryptocurrency? That is the problem Peddler.com is trying to solve. Peddler.com is the first crowd-buying marketplace platform that is revolutionizing shopping with digital currency. The Amsterdam-based startup allows buyers to buy any products and make payment using Bitcoin, Ethereum, Litecoin and many other cryptocurrencies. Next month, Peddler.com plans offer first cryptocurrency car-buy throughout the EU.
For a start, Peddler.com’s marketplace includes products for major brands like Sony, Nike, Samsung and Dyson. Products range from the hottest new Nikes, to Samsung phones, or even Dyson vacuums, but what distinguishes them from other retailers is their ability to harness the collective purchasing power of groups to offer discounts of 20% to 50%. This often enables them to offer brand-name products cheaper than anyone else in the UK (their primary test market), even including giants like Amazon.
“We realized that we have a lot of consumers who hold digital currencies but have no place to spend them. So we expanded our crowd buying for this community. The crypto markets can drop if there’s a lack of general purpose application. With our platform, we see a real opportunity to provide real utility,” Peddler.com founder, James Klymowsky, said.
In order to explain the growth of crypto currencies, we must first understand the value of currency. By itself, cash has no intrinsic value. It only has value because society as a whole accepts cash as a medium of exchange for actual goods. The biggest issue right now is that there are not enough places to spend these digital currencies. Peddler.com will now be a major platform where consumers can purchase nearly any product they want with cryptocurrencies.
The promise of blockchain is a world without middlemen — something that also lies at the heart of this startup’s crowd-buying model. The blockchain is a digital ledger of crypto transactions that cannot be controlled by any single entity. Instead, it has a self-auditing ecosystem of computing nodes. Every node is an “administrator” of the blockchain, and joins the network voluntarily. In this sense, the network is decentralized.
This startup’s new model is creating a more decentralized shopping alternative. Klymowsky explains, “AI enables us to cut out the middle men – big advertisers who are getting our data for nothing – and even start paying users for sharing the things that they want. It’s your data and you own it, so you should get paid for it.”
Every time we use Facebook, we’re creating data that they sell to advertisers. In return we’ve developed addictions, watched national elections fall, and helped Facebook grow into a trillion dollar company with our data. “Our ambition is to scale and become decentralized in order provide our AI and crowd buying capability to everyone everywhere — even one day cutting out Peddler.com itself,” Klymowsky said.
Soon customers will get paid for their data on Peddler. But starting today, they can pay for products with cryptocurrency on a platform that is cutting out the middlemen and passing these savings back to where they belong: customers’ pockets.