After the closure of the Bitmith service people started to search for new bitcoin accepting marketplaces. Soon after this, BitcoinTalk chose BitWasp project as the best project of Winter 2014, and today the BitWasp service promises to replace the old Bitmit.

About BitWasp

BitWasp is an open source marketplace which promises to be absolutely independent of third party payment processors and preserve privacy. BitWasp is also available on GitHub.

The BitWasp project received more attention following the shutdown of Silk Road. 

According to the information from the BBC the developer of BitWasp is a 21-year-old man from Ireland, known as afk11, who wants to promote virtual currency. He believes that bitcoins could “become a way to pay for concert tickets and other events”, rather than drugs.

"Just because people want to remain private doesn't mean things are suspicious," he says.

The BitWasp software marketplace has a lot of attractive features: it is an open and free platform, secured and private, so anyone can use it as their own marketplace and accept bitcoin payments. 

All private messages and sensitive data get encrypted with RSA encryption standards; all uploaded images are striped of GPS information. Live exchange rates help customers convert bitcoin prices to major currencies (like USD/EUR/GBP) and would allow prices to be displayed in a user’s local currency. 

Moreover, BitWasp has its own open forums to discuss the project which makes users’ lives a bit easier if any questions arise. 

Expert opinion

This is what John Matonis, e-Money researcher and trusted crypto-economist, said about BitWasp in one of his publications on Forbes: “Newcomer BitWasp is an open source anonymous marketplace built to leverage the features of bitcoin and lower the barrier to entry for launching an agorism-based marketplace on Tor or I2P. All could easily incorporate the escrow and reputation functionality”.

While the Bitcoin economy rises and falls, projects like BitWasp are trying to stimulate and develop its growth. 

If you would like to donate to the project, you can find the address here: 19EkDTAaGWySZv1QsWxyWwYMZpo7jpvPYe