March has been a busy month for our small team here at Genesis and has seen some major changes and improvements made to the marketplace in preparation of our release in the coming months.
Our main focus for this month has been on making the website compatible with the latest version of MetaMask. Since the turn of the year, MetaMask has undergone some major, but welcomed, changes which fundamentally changed how a website communicates with the MetaMask plugin. At launch, the Genesis Marketplace will be utilizing MetaMask so it was imperative that we made the marketplace compatible with the latest update. A user’s MetaMask account serves as their main wallet and allows access to their account on the marketplace. Further down the line, we plan to integrate these features directly into the marketplace ourselves so that MetaMask will not be required but optional. Thankfully once we had begun the process, it was rather straightforward and we are pleased with the progress that has been made in this area.
We also made improvements to account security this month, meaning that user’s accounts and personal details are now safely secured and can only be accessed by someone who has the wallet private key and password, which should always be the account owner. As with any site or wallet though, it is imperative that users secure their own private keys and passwords to prevent unauthorized access to their accounts.
First Look at Marketplace
It’s been a long time coming but we are excited to be able to give our community a very first look at the marketplace!
Here is an image of how the marketplace homepage looks right now. This is subject to change but it gives a general idea of what we’re aiming for.
Here is how a listing for a product will look. You can see on the right-hand side where the seller’s details will be displayed, including their feedback and ratings which will give buyers an opportunity to gauge how other buyers have rated them from previous purchases.
Feature Showcase – Resolution Center
The resolution center on the Genesis Marketplace is fundamental in resolving any disputes that may arise between buyers and sellers for a number of reasons. While the use of cryptocurrency as a payment method prevents fraudulent activity such as chargebacks, there will always be the odd occasion when one party is unhappy with the other when it comes to sales between people. This is unavoidable whether or not you are using blockchain. However, what blockchain does allow us to do is to create a fair and trustworthy resolution center.
Once someone has purchased a product or service and payment has been successfully received (confirmed on the blockchain), buyers will be able to create a dispute if they have not received their purchase or are unhappy with the product, such as if it was not as described or arrived damaged. Other marketplaces such as eBay always tend to side with the buyer, and as we have experienced ourselves when selling, this can unfair to legitimate sellers. Therefore, once a dispute is started, both parties will have a set amount of time to provide evidence to support their case. This could involve tracking information from a seller if a buyer claims they have not received their product, or pictures from the buyer f their item not being described – ie it clearly does not match the description of the listing.
Once both sides have provided evidence and responded to the dispute, community members will be able to view cases in the resolution center and vote for who they feel is in the right after judging all the evidence. This will last for a set period of time when as many community members as possible will have the possibility to vote on the case. This will lead to a consensus being reached and a final decision being handed down.
We acknowledge that every marketplace in the world will experience some buyers and sellers who are less than genuine, whether that be through selling products not as described, having no intentional or posting out an item or in the case of a buyer, always planning to fraud the buyer out of their product and money. Whenever there is human interaction between two parties, these issues may arise in a very small number of cases and blockchain, no matter what anyone says, cannot control human behavior. However, what it can do is provide a system where both cases can be evaluated in their entirety and voted on by the community to reach a consensus.
We have worked on implementing this feature into the marketplace this month and we are pleased to be able to show you some screenshots of what it will look like.
March’s HODL Program
This month’s HODL Program will take place as usual. Please make sure that your Genesis Coins are not on an exchange and are in your wallet by March 31 when the screenshot will take place.
Payments will be sent out during the following week.