The emergence of the "on-demand" economy, which makes it possible to quickly obtain a product or a service thanks to its smartphone, has allowed the emergence of large world market places like Amazon - while the sales of small businesses tend to stagnate or regress.
But new technologies do not only favor large groups. The Blockchain is a perfect example of an emerging technology that can benefit local commerce and peer-to-peer transactions, allowing small companies to attract new customers. As more and more companies are interested in Blockchain, new ways of using this technology are emerging to help grow the local economy.
One of the latest trends is the creation of decentralized applications, also known as "dApps". Unlike the applications we use on a daily basis, like Uber or Gmail, they do not require a "trusted third party" to work.
DApps are revolutionary because they bring users and suppliers - in other words, customers and businesses - closer together by enabling true peer-to-peer transactions based on trust and transparency. DApps are usually open source, and do not rely on a central server that might be faulty or have security vulnerabilities.
DApps: the future of marketplaces (online marketplaces) online?
5miles, a US marketplace connecting individuals, is closely interested in Blockchain technology and decentralized applications. The platform plans to take advantage of decentralization through its next CyberMiles marketplace, developed by the 5xlab laboratory.
"Our vision for the future is a public network that allows members to take advantage of secure services," says Dr. Michael Uyan, CyberMiles' Scientific Lead. "All small businesses should be able to use the services offered by this network to rely on" smart business contracts ".
5miles aims to gradually migrate its users to this new decentralized network. The company believes that the Blockchain can provide solutions to the problems commonly found in the marketplaces "C2C" (inter-consumer exchanges).
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