OpenBazaar co-founder, Washington Sanchez recently went online to express his dissatisfaction concerning the exorbitant fees associated with Bitcoin Cash (BTC). Mr. Sanchez also spoke out about his regret for his previous total support for BTC stating that OpenBazaar will henceforth put emphasis on alternative cryptocurrencies.
OpenBazaar is a free online marketplace that allows the buying and selling of goods and services in cryptocurrencies. However, the company had previously facilitated payments on its platform mainly in Bitcoin at the expense of all other cryptos. However, a company executive is now saying he is not happy with the high fees associated with BTC payments.
Mr. Sanchez took to twitter to say that “I personally wasted so much time in the Bitcoin scaling civil war that I could have used designing/building apps and opening up OpenBazaar to multiple currencies. Instead, we had to wait for fees (in BTC) to cripple any consumer usage before we woke up.”
The disgruntled OpenBazaar co-founder also noted that his company’s platform is supposed to be a free and open protocol for trade using cryptocurrency, a way for currencies and tokens to gain meaningful economic utility to acquire goods and services. This vision, he said, cannot be limited to a single coin.
Mr. Sanchez is hoping that by the end of the year OpenBazaar will look radically different with a revamped platform that support users’ ability to purchase/sell goods and services for BTC, BCH, LTC, ZEC, ETH, in addition to any ERC20 token.
Despite the company intent on opening up to alternative payment methods, the most popular cryptocurrency on the OpenBazaar marketplace continues to be the BTC. It has a record 11,000 listings featuring BTC as a means of payment. Bitcoin Cash comes second with 1,100 listings.