A monopoly refers to a market structure that is characterized by having a single seller only who sells a unique product in a market. He doesn’t have any competition, so to speak, as he is the only one selling in that market. This means that he controls the market all by himself, which makes him the price maker as well. This hurts the independent entrepreneurs, as he restricts them from entering the market through factors such as copyright and patent, licenses from the government, and ownership of resources.
As the company continues to grow, and their market shares expand, it would want more. Soon, it dominates the market, and once they started to control 70% of the market, it eliminates major competitions. That’s when monopoly starts and becomes powerful because it will do everything to maintain its control in the market so that no other company can come in and take over. Having a dominant market share and billions of dollars in revenue will not be enough for it. Therefore, it will find other products that they can buy or create so that they can control other markets. This cycle will go on and on, while its monopoly continues to expand.
When this happens, monopolized markets squeeze out any independent entrepreneur from any area where profits can be made by the controlling company. When monopolies get to the top, they become fearful as they become stagnant. Without competition, they do not focus on innovation anymore, hence producing the same products for many years. They are fearful not only for the independent entrepreneurs but also for the consumers as they can only buy one product because no other companies could afford to compete with them. As they take over more markets, the product options become less for the consumers. This leads to another frightening factor as they abuse their power of dominance by their outrageously high prices.
In such cases, independent entrepreneurs should find a market wherein there can never be monopolies, such as the Virie Market. This market can survive not only governments, banks, and other institutions, but the much more frightening opponent, monopoly. It is a decentralized distributed exchange network and a payment system where anyone can exchange anything for anything from anywhere in the world. It gives equal opportunities not only to the big companies but most especially to the independent entrepreneurs. No third party is required to process any transaction on behalf of the buyer and seller like it is in the traditional trading system. This makes it much more cost-efficient than any other existing market.
In a world where big companies monopolize the majority of the markets, the creation of the Virie Market came at the perfect timing. Right now, it’s the only market in the world without a powerful monopoly. Now that it’s here, soon enough, healthy competition among ordinary companies and individuals will emerge, leading not only to more choices for the consumers but to more innovative and new products. It has the most user-friendly interface in the market today, where transactions are processed in as fast as 5 to 15 minutes. The application can be downloaded and installed in no time at all. Download it here and see for yourself.