Marketplaces Turn to Blockchain to Change Consumerism

6 years ago

BERLIN / HONG KONG, 4 April 2018 - Two marketplace team up with OST to make the world a better place through shopping. The Brightly Co, from San Francisco, offers its millennial target market sustainably produced products, with the added bonus of converting tokens into a donation to your charity of choice. Berlin based Fainin starts at a neighborly level by making it easy to borrow stuff you only need in a blue moon. The German startup also does its part for our environment by offering "try before you buy" and "rent on location" products.

Ash Eryani, CEO of Fainin, says: "The shared economy market will grow $335B by 2025. Utilizing blockchain technology with the shared economy of "things" will differentiate us from existing players and bring value back to the users."

He continues: "We will use OST to mint our own Branded Tokens and to have control of our token economy. Also, we're planning to generate rental agreements within the platform as smart contracts staked by OST tokens on to the Ethereum Blockchain."

CEO Laura Wittig of The Brightly Co. has a different use for Blockchain: "The fastest way to scale social impact is through everyday consumer behaviors. We're partnering with OST to create a platform where people shop, learn, and engage with others."

So, what does she have in mind? Wittig: "We'll use blockchain to power our loyalty program. We really believe OST is going to give us a competitive edge over other shops and marketplaces."

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ABOUT OST

OST, founded by Fab.com's Jason Goldberg, ran a successful ICO in November 2017, raising 262.000.000 $OST (~ 47.000 ETH) The team of 45 is spread over offices in Berlin, Pune (India), Hong Kong and New York. A plug-and-play solution for companies to comply with KYC (Know Your Customer) regulations is in the works, enabling companies to process thousands of customers per day. OST Partners include photo giant Unsplash and corporate video platform Wooshii.

PARTNERS:

The Brightly Co.: https://thebrightly.co

Fainin: https://fainin.com

Attached Media

About OST

OST blockchain infrastructure empowers new economies for mainstream businesses and emerging DApps. OST leads development of the OpenST Protocol, a framework for tokenizing businesses and the OpenST Mosaic Protocol for running meta-blockchains to scale Ethereum applications to billions of users. OST KIT is a full-stack suite of turnkey developer tools, APIs and SDKs for managing blockchain economies. OST partners reach more than 300 million end-users. OST has offices in Berlin, New York, Hong Kong, and Pune. OST is backed by leading institutional equity investors including Tencent, Greycroft, Vectr Ventures and 500 Startups.

Press Contacts

Wouter Verhoog

Director of Communications

wouter@ost.com