Nick Tong has started a new open source projecet called cfCommerce (cfCommerce.org)The idea is that this will be an open source project developed by the community to be a viable solution as a drop in commerce application. Already the Google Group has got 21 members and the chat is picking up too. At the moment it's still early doors though and the general discussion is the direction cfCommerce should be going in. So if you have an opinion/thought leave a message in the comments or join the group.cfCommerce.org
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