Startup Particl Reveals Marketplaces Creation and Management Feature

Privacy-focused blockchain software project Particl has announced a market management option that allows vendors to create and manage stores for specific audiences.

Particl revealed the development in a press release shared with Cointelegraph on Sept. 12. With the new feature for its Open Marketplace product, Particl will enable vendors to set up an unlimited number of marketplaces within the ecosystem and share them with a specific group of customers. Such marketplaces will be available to only those users who have a market’s Market ID.

Creation of personalized stores

As such, merchants can create personalized stores on the Particl Open Marketplace and aggregate their products within a single environment. The release further explains:

“One other use case example is a merchant offering special discounts on products for VIP customers. The merchant can create a private marketplace and only share the access keys with their premium customers, giving them VIP access to unique items and discounts that other users cannot buy or don’t even know exist.”

Commenting on the product development, Paul Schmitzer, project marketing and strategy at Particl, said that “it’s critical for merchants to be able to create ‘invite only’ marketplaces for premium clientele and the power this gives them to target users and key demographics is an undoubted gamechanger, something that other platforms fail to provide.”

Harnessing the benefits of blockchain

As previously reported in a dedicated analysis, harnessing the benefits of distributed ledger technology could improve security, give customers more control over their data and create new forms of marketing to help retailers meet consumer needs with higher precision.

Leading merchants around the world have made a pivot to blockchain technology. In August, American retail giant Walmart submitted a patent application for a blockchain-based drone communication system. In essence, the vehicle-to-vehicle communication system between unmanned drones would relay messages, mesh communications networks and allow machines to be aware of each others’ location and bearing.