After shutting down in 2020 due to fiscal issues and poor growth, decentralized businesses seem to be making a comeback.
The decentralized business OpenBazaar seems to be making a comeback after being shut down twice in the past, according to a number of social media and GitHub updates.
The GitHub repository at the point of cooperative software development showed progress most recently on April 12 in setting up a new interpretation of the business, closing in 2020.
Brian Hoffman, former design lead at OpenBazaar and CEO of OB1—the nonprofit company that develops the software—tweeted April 9 about the progress being made on the “new” interpretation of the business, saying it was “getting more exciting by the day.”
In his reply, Hoffman was asked how the business would be different this time, given that OpenBazaar was initially forced to close due to fiscal problems and poor growth.
Hoffman replied speaking of “freedom of quest” and concluding that outside influences had contributed to his original downfall.
The first hint that OpenBazaar was making a comeback came in a tweet from Hoffman on March 28, in which he linked OpenBazaar’s GitHub runner indicating that he was working on a new interpretation of the business using the programming language Rust.
Hours later, the OpenBazaar account functionary also posted a tweet saying that “it is time to grow back from the ashes,” and that “the work has begun. ”
Adding to the evidence that the business looks set to be relaunched, the OpenBazaar website currently contains the communication “openbazaar3.0- coming soon. ”
After the exchange closed in 2020, Hoffman tweeted that unborn OpenBazaar replication would result in further independence from OB1, but did not provide further information on how this would work.
Hailed as eBay’s decentralized will, OpenBazaar was first launched in 2014. It allows drug dealers to interact directly with each other to make deals using Bitcoin
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The business was originally named “DarkMarket”, but changed it to OpenBazaar following community input in an effort to improve its public image.
Cointelegraph communicated to Hoffman and OpenBazaar for comment but did not receive a response.
The OpenBazaar business post saying it will ‘rose again from the ashes’ first appeared on BTC Wires.