Ink Protocol - Decentralized reputation and payment system
Ink Protocol is developed by Listia, a P2P marketplace for buying and selling used goods online. A new decentralized reputation and payment system called Ink Protocol is powered by the Ethereum blockchain and XNK, an ERC20 compatible token, and will be traded on exchanges. Ink helps users safely send and receive payments in P2P marketplaces while earning public reputation for every completed transaction.
The Ink Pay app will be released soon after the Ink Protocol becomes available. This will immediately allow buyers and sellers to make and receive payment for items on third-party marketplaces like Craigslist, Facebook Marketplace, OfferUp, and more.
Sellers can accept payment with Ink Pay and build their reputation. Buyers can check a seller’s reputation before buying and also leave feedback once a transaction is complete.
Benefits of a decentralized reputation system:
· Sellers/buyers will be able to sell/buy on many more platforms thanks to their great reputations
· Reputations will be easily transferable from marketplaces to marketplaces worldwide
· Bad sellers/bad buyers will be identified easily
· Nobody can tamper with your reputation, because nobody owns your data.
· Your reputation and history are censor-proof.
· No company is directly profiting from monopolizing your reputation so marketplaces must compete more on fees, thus lowering them for everyone.
Milestones
June 2009 – Listia Inc. is founded and receives funding from Y Combinator
August 2009 – The Listia marketplace launches
October 2009 – Listia announces $400K angel round
April 2011 – Listia launches iOS app, announces $1.75MM seed round led by A16Z
January 2012 – Listia reaches 1M registered users, launches Android app
January 2013 – Listia partners with Best Buy to power the Listia Rewards Store
October 2013 – Listia announces $9MM series A led by General Catalyst
February 2014 – Listia allows Bitcoin to be bought and sold in the marketplace
November 2014 – Listia first experiments with creating a cryptocurrency
December 2015 – Listia launches the Credit Exchange, allowing sellers to earn USD
April 2016 – Listia launches Credits + Cash feature
June 2016 – Listia launches Listia Plus
September 2016 – Listia integrates shipping labels and tracking
May 2017 – Listia hits 10M registered users
June 2017 – Listia begins work on Ink Protocol design and whitepaper
September 2017 – Listia publishes website and Ink Protocol whitepaper
November 2017 – Listia introduces the Ink Protocol project publicly
January 2018 – Ink Protocol public launch and token distribution event
February 2018 – Ink Protocol network goes live and ready for everyone to use!
February 2018 – Listia.com XNK integration goes live!
Q1 2018 – Ink Pay App and Developer Portal launch
Q2 2018 – Launch Reputation Aggregators and work on Marketplace Partnerships
2018 – Ink Protocol services, integration into existing marketplaces, developer community
Moreover, INK Protocol will also manage the payments thanks to an escrow smart contract working on the Ethereum blockchain. The moment you will buy an item, the amount will be put on the escrow smart contract until the buyer confirms the delivery.
Website: https://paywithink.com
Twitter: https://twitter.com/PayWithInk