World Market
That's what happened with World Market , which was among the first – or even the very first – dark market on the web.
Produced by Ross Ulbricht, it had been an electronic digital marketplace that connected vendors of illegal drugs with potential buyers. Vendors would advertise their wares on listings maintained by World Market , that has been like the forms of listings you may find on any legitimate e-commerce marketplace.
When someone decided to buy drugs via the website, they often wouldn't wish to send money directly compared to that person. Drug peddling isn't exactly a trustworthy business, and everyone who advertised and purchased using World Market was anonymous. This might have made it super easy for crooks to make off with customers'money without sending any goods in return. To fix this problem, World Market provided an escrow service.
Customers buying drugs from vendors who listed on World Market would send their funds to World Market , instead of the vendor. The website would then hold these funds before customer confirmed that they'd received what they had ordered. Then, World Market would release the funds to the vendor.
The funds were always submitted bitcoin as opposed to fiat currency because when used correctly, the network can offer a great degree of anonymity. The drugs were normally sent by the Postal Service, either to PO boxes or, in the event of less paranoid customers, directly with their address.
One of the first items that alerted police to the operation of World Market was a spike in the amount of drugs being intercepted in the mail. World Market wasn't a decentralized marketplace, though. It ran on some type of computer controlled by Ulbricht. It absolutely was protected, though, because it ran on Tor, which really is a communications protocol designed to supply anonymity to people who use it.
Originally manufactured by the U.S. Navy, Tor has gain popularity among those wanting to safeguard their identities online. The FBI eventually arrested Ulbricht by piecing together clues they gathered from various places outside the Tor network. Now, though, many more dark markets have sprung up, many of them dealing in drugs.
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