TessaB Announces The Launch of The Glyde Marketplace
TessaB Corp., a technology company developing a blockchain platform to solve market inefficiencies in the used mobile phone industry, announced the launch of The Glyde Marketplace (Glyde). Glyde will usher in the future of buying and selling used phones by harnessing new technologies to provide buyers and sellers a higher level of transparency and security, thereby allowing consumers to cut out the many industry middlemen who needlessly drive up prices.
CEO of TessaB, Flavio Mansi, commented, “We are delighted for the official launch of The Glyde Marketplace to solve issues within the used mobile phone market. Right now, there is an average of seven middlemen between a customer who trades in a phone and its next owner. Our goal is to eliminate these inefficiencies and also instill trust between buyers and sellers. The biggest barrier to purchasing a used phone is lack of confidence in the condition of the phone the buyer will receive. That is why we have selected blockchain and other innovative technologies to create a more transparent, secure, and efficient marketplace for used phones.”
Glyde is the first to put advanced mobile diagnostic tools that original equipment manufacturers (OEMs) and wireless carriers use in the hands of buyers and sellers, allowing them to securely test the condition of mobile phones as they transact. The Glyde Marketplace is also the first to use smart contracts to minimize fraud and discourage unscrupulous buyers and sellers that currently plague today’s peer-to-peer marketplaces that sell used devices. The global market for used phones is huge, forecast to be worth $67 billion by 2023 according to William Stofega, Program Director, Mobile Device Technology and Trends at IDC.
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TessaB also announced they have teamed up with Near Protocol for layer one of the blockchain. This will provide the foundation for a fairer marketplace for both individual consumers and businesses, one in which transactions are more transparent and, as a result, prices more accurately reflect the quality and value of the device. With Glyde, business rules programmed into smart contracts to guide dispute mediation when the condition of a phone a buyer receives does not match the condition the seller posted to a phone listing, minimizing the need for subjective decision-making.
“We are excited to see innovative projects like The Glyde Marketplace bringing applications that can serve millions of customers to market faster using NEAR. We are looking forward to expanding our collaboration with the TessaB team and bringing to life even more breakthrough projects that create new marketplaces and help consumers save money.” Erik Trautman, CEO of NEAR Foundation.
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