Quote from: Vannicke on February 11, 2014, 09:35:33 PM

Quote from: martismartis on February 11, 2014, 09:15:51 PM

Quote from: Vannicke on February 11, 2014, 09:12:38 PM

Quote from: martismartis on February 11, 2014, 08:48:10 PM

In my mind I have another approach for trust, not using any rating system, using some "permanent account" to act like escrow.

1. Jon wants to sell "asset" for Sue for 100NXT
2. Jon push "sell", asset goes to "permanent account"
3. Sue push "buy", 100 NXT goes to "permanent account"
4. If both things arrived to "permanent account" then this account sends 100 NXT to Joe and "asset" to Sue.

"Permanent account" is only for naming, can't find better description for now

Does it sound stupid?

Yes, but how would you implement this for real world items. When Jon pushes "Sell" he can't send 10 ounces of bullion through the internet, for example. This could be a decent way to send/recieve other cryptocurrecies, but who has the access to the escrow account in order to send the received BTC when Sue pushes "Buy", for example? It could be done for some things like other cryptos, but how do you make it p2p and secure? Real world commodity trade may be difficult with this approach.

OK, this questions are for devs

That was only conception.

Just to be certain, I did not mean "yes" in my post "Does this sound stupid?" >_<

Its a decent idea, but there is an issue in who controls the asset accounts. Unless I'm missing something, the only way we can send from the "permanent account" is if the account is controlled by a trusted escrow. It's doable, but makes it less decentralized.

What might be interesting is to implement escrow right into the asset exchange, so that anyone can have a rated escrow account as well. For example:

1. Jon wants to sell "asset" for Sue for 100NXT but has little or no rating.
2. Jon push "sell", and sends the asset to a linked and highly rated escrow account
3. Sue pushes "buy", 100 NXT goes to the linked and highly rated escrows account
4. If both things arrived to account then this account sends the 100 NXT to Joe and asset to Sue.
5. Upon successful transaction, the escrow, Jon and Sue all +1 each other for a good trade, thus developing rep for Jon, Sue, and the escrow.

Just an idea, still hard to implement the real world commodity part of the escrow, and maybe that would complicate it too much, but just an idea. Still, I think ratings of some sort could establish trust. As far as commodities go though, I think a system to easily implement dividends may prove useful, but I wonder the legal implications of such a thing. But a full peer-to-peer trading platform would be excellent.

Edit: pardon me, I've derailed the thread to suggestions ... back to asset exchange testing.

Ok, I'm not native English speaker, but try to explain my thoughts:

This conception is suitable on things, which we can cross-chain in NXT. Most of them are crypto. "permanent account" or "escrow" I meant is hardcoded in protocol and serves only for collecting "assets" from both parties and release them to both parties. I mean if Sue push "buy", but Joe will not push "sell", assets goes back to Sue. If both push their buttons, escrow releases assets to both parties.

Or something like this

P.S. for a while I don't see how to use Asset Exchange for real world commodity

EDIT: "permanent account" or "Escrow" could be the similar account we have today: Genesis account or account, collecting fees and sending them to block forgers.