Earlier this year, E-Tao, an application for the sale of new/used goods was launched on Chinese and Indonesian markets with the ability to pay for goods using various cryptocurrenies. The application I run on a blockchain to prevent fraud from taking place. Bitcoin and other leading cryptocurrencies will be connected to the E-Tao application.
The E-Tao creators noted: “Today, Chinese applications are already the most popular in the world. Such services have gained traction among many clients. Nowadays, every third smartphone owner in China is an active user of the platforms for the sale of second-hand things… We have gained the support of big business, and thanks to the unique design and technology of E-Tao application, we plan to change the existing industry, to take a leading position,”
Investors have expressed confidence that the E-Tao platform has broad prospects, since similar projects have attracted the attention of major investors: recently, used mobile phones platform «Huishou bao» received A series investments of 100 million yuan, whereas the “Jiu Ai” company gained 30 million yuan in angel investments.
Predict market players commented: “Payments in cryptocurrency is the niche service allowing to buy and sell goods without multiple conversions while maintaining anonymity and paying no attention to the dollar, the euro, and the yen fluctuations. E-tao will be the safest, most convenient and effective exchange platform of commodities, leaving behind those using old technology platforms,”
In the future, the project will be expanding to be available for English-speaking users, as well as for those speaking Russian and Hindi later on.