to Challenge Ecommerce Giants on Bitcoin Classifieds

322 to Challenge Ecommerce Giants on Bitcoin Classifieds

A newly launched website in New York intends to grab a share of the local trading market controlled by Craigslist and eBay by encouraging optimum use of Bitcoins. has deployed an interface that leads visitors to deals within their own localities first. The site will also use an escrow service for trusted transactions and says it will fully refund buyers who change their mind, according to CryptoCoinupdates.

The firm will be popularizing its Bitcoin-oriented strategy by kicking-off its beta service with what it calls a “Bitcoin Picnic” at Union Square in New York, which will last for seven hours on  April 26.

The event has live music planned as well as food that can be bought using Bitcoins. A 1 BTC price is up for grabs for the first 1000 persons to sign up. A 1-millibit QR code that can be redeemed at the company’s website will also be given away.


Corkket was co-founded by Tom Tang, YJ Dang and Angel Beale, all from Yale. It defines itself as more local-focused than eBay and more trusted than Craigslist. The firm is the first locally online marketplace to support person-to-person dealing and with a fully integrated Bitcoin transaction processing, Corkket claims.

With the Escrow-based system, Corkket will hold Bitcoins until both parties to a transaction are satisfied.

“We believe in making person-to-person local commerce easy, safe, and fast for everyday people. As long-time Bitcoin enthusiasts, we know Bitcoin is ideally suited as a payment method for privacy and security-conscious users,” co-founder Beale is quoted by Coindesk as saying.

The system generates a unique address for each Bitcoin transaction and when Corkket receives money, it sends a QR code to the buyer via email. The buyer obtains a print out of the QR code, which the seller scans to receive payment.

The system attempts to protect sellers from payment disputes as well as chargebacks. To register for a free 2-week subscription to ForexMinute Premium Plan, visit

To contact the reporter of this story; Deepak Tiwari at