- March 28, 2024
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CLEARWATER — OmniBazaar Inc., a Clearwater-based software development company, plans to distribute 20 billion units of a new digital currency to be used on its peer-to-peer Internet marketplace. The new “cryptocurrency,” called OmniCoins, will be sent to people who register to use the peer-to-peer marketplace, refer friends, transact business in the OmniBazaar marketplace and provide services for other users.
The developers of OmniBazaar plan to release the entire supply of digital coins.
“We intend to have the broadest, fairest, and most open coin launch in the short history of cryptocurrencies,” OmniBazaar founder Richard Crites says in a press release. “We're not going to hold back any of the coins for the company, for the developer, to pay for future software development, or to repay any investors. The only coins that won't be distributed directly to users of the marketplace will be the coins we promise as 'perks' to our crowdfunding contributors.”
The company says the new marketplace will operate without a central hub/e-commerce site, such as Amazon, Alibaba or eBay, and that individuals or businesses will deal directly with each other through a network. OmniBazaar expects to make money from the venture through a software maintenance fee.
OmniBazaar is raising development funds for the marketplace through crowdfunding on its website here.