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OpenBazaar, Born of an Effort To Build the Next Silk Road, Raises $1 Million

Posted by timothy on from the please-leave-your-comments-for-the-fbi-below dept.

Patrick O'Neill writes: After the fall of Silk Road, Amir Taaki built DarkMarket in an effort to offer a decentralized and "untouchable" market alternative. That's grown into OpenBazaar, a "censorship-resistant" protocol that just raised $1 million from venture capital firms Union Square Ventures and Andreessen Horowitz, as well as angel investor William Mougayar through the company OB1, which will now do core development on the software.

4 of 107 comments (clear)

  1. Untouchable? by gstoddart · · Score: 3, Interesting

    You keep using that word. I do not think it means what you think it means.

    Because the players here fight dirty.

    --
    Lost at C:>. Found at C.
    1. Re:Untouchable? by petermgreen · · Score: 1, Interesting

      When people built centralised systems for making payments while avoiding the regular government controlled banking system the government either crushed them or forced them to become part of the system.

      It was clearly within the US governments resources to crush bitcoin by gathering together enough hardware to do a 51% attack and thereby prevent unapproved transactions from entering the blockchain but they did not do so.

      --
      note: i'm known as plugwash most places but i screwd up registering that here somehow in the past and now can't register
  2. e-bay & Alibaba killer by Anonymous Coward · · Score: 2, Interesting

    It has the potential to really hurt e-bay & Alibaba. Think about all those traders, that can sell their wares for free. It's a no-brainer to list your sites on OpenBazzar at the same time. Eventually the user-base will get to a point where e-bay is too expansive, and they will have to drop their prices.

  3. Freenet by Anonymous Coward · · Score: 2, Interesting

    All these stories about new darknets, TOR busts, and anonymous networks raising VC funding must tickle the Freenet guy(s) in an entertaining way. How come nobody talks about the darknet that's been around and in use for 15 years.