As I see it, development could be divided in different steps.
1.- Game-Theoretic-Collateral transactions.
2.- Distributed order book.
3.- Distributed reputation system.
The first step could be developed without the second and the third. Existing working infrastructure (bitcoin-otc channel, order book and reputation system) could be re-used. As the initiative gains momentum and users, progress could be made towards the second and third step.
Exactly!
We try to make it module based, so several features can be developed independently and are exchangeable. That is also important for security, as every part has its own attack surface and should not have fatal effects to the overall system if it fails.
To use the bitcoin-otc infrastructure could be a low effort solution for starting.
Here a draft for the overall hi-level architecture.
External systems:
- Messaging system
- Wallet
Core:
- Exchange
Facades (provides internal API to access external system):
- Messaging facade
- Wallet facade
Modules:
- Account
- Offer
- Contract
- Identity check (only API, functionality off-system)
- Arbitration
- Reputation
- Blacklist