Peer to peer marketplaces connect users directly with each other to help them sell or trade services. One of the first to really take off was eBay, a huge bidding site that allows registered users to either browse for or purchase almost anything ranging from an autographed poster from the boy band *NSYNC to furniture and even cars.
The Evolution of eBay
In 1995, a computer programmer named Pierre Omidyar wondered what it would be like if everyone in the world had access to one marketplace. The answer to that question came through pieces of code that eventually became eBay, what’s now arguably the most recognizable website of its kind.
Once eBay users showed a preference for using PayPal as a secure way to pay for items won through the site, eBay acquired PayPal in 2002. Since then, the website has growing to accommodate over 90 million users, according to data from eBay. It has also expanded into other areas of the e-commerce market by launching websites like StubHub, a concert ticket marketplace.
For further clarification, eBay is an online auction enterprise that begins with assisting broken laser printer and later on augmented to offering travel tickets on a plane. Several days and months had passed, lots of people have already discovered the great things offered by eBay that’s why it continued to rise for so many ears.
Need a Place to Stay on Vacation? Try AirBnB
Although eBay is not slowing down, it has opened the door for other like-minded companies to follow suit with direct user interactions. One such site is called AirBnB, except instead of selling products; it connects people with places to stay. The website boasts properties in over 34,000 cities within 192 countries.
For obvious reasons, the AirBnB concept is especially dependent on trust. In contrast, if a deal went bad on eBay, the unlucky party might be out some money and not receive a product they’d been hoping for, but they wouldn’t run the risk of a person with ill intentions showing up on the doorstep, simply because PayPal protected user identities and bank account information.
AirBnB is an online community marketplace that links those people seeking for a perfect spot for a vacation stay. It has been assumed to offer policy and provides cash on every booking in a way of buyer mark up, and also a marked commission from the provider himself.
Hence, if you are planning for a vacation whether with your family or not, you can try AirBnB since it offers a very great deal. Ebay has also taken its leap to the business industry before, however AirBnB is much better these days.
Proactive Measures by AirBnB
In an effort to be sensitive to potential user concerns, AirBnB recently announced that it has taken a step to keep people safer with Verified Identification, which connects a user’s offline identity with his or her online persona.
The introduction of this precaution comes after a $1 million property insurance guarantee for hosts, plus a rating system that allows both hosts and people staying in the properties to offer honest feedback.
Fiverr: Selling Services for Cash
In the past, if someone mentioned selling “services” in exchange for cash, that might cause others to raise eyebrows. Now, thanks to the continued momentum of peer-to-peer marketplaces, a website called Fiverr allows people to describe their expertise and aim to get people interested enough to pay five dollars for it.
Listings on the website vary greatly and range from tarot card readings to article writing to video creation. Service providers receive only four dollars because the remaining dollar goes to Fiverr itself. However, one perk is that payment is received no more than 48 hours after a job is completed.
At all three of these peer to peer marketplaces, there are systems in place that protect both buyers and sellers to some degree, whether by ensuring they’ll eventually receive payment or providing insurance against someone who stays in a house and decides to be a very bad guest.
Trends indicate that peer to peer marketplaces will only continue to gain strength. They’ll be best able to do that when users continue to trust each other and also take advantage of protective measures that are in place.
Article by Vishal
Meet Vishal Gaikar, the tech wizard hailing from Pune, India, who's on a mission to decode the digital universe one blog post at a time. When he's not tinkering with gadgets or diving deep into the digital realm, you can find him concocting the perfect cup of chai or plotting his next adventure. Follow his tech escapades on Twitter and buckle up for a wild ride through the world of innovation and geekery!
