Decentralization
We can make the market decentralized.
The biggest problem is probably that everyone is
marking a market and no one will ever buy really
from it or abuse the technology.
The biggest problem with such marketplaces is the fact that most of the previous ones that announced themselves as decentralized platforms, turned out to be centralized
[to an extent]!
- Would you mind giving an in-depth explanation in regards to how you'd be tackling that issue?Note: I don't have a idea for a vote system yet.
That's the tricky part
[e.g. clean/real votes].
Multi signature Escrow
Every order get a new bitcoin address that is secured
by 2/3 Multi signature. If the vendor don't send the
product to the user it can report the scam. The 3th party
(the marketplace) can sign with the user and send the bitcoins back.
- How are you planning to choose/hire the escrow providers?
- How can you be sure that the escrow provider doesn't have any connection to the vendor or the buyer?
Fees
The marketplace is mainly paid by fees. If a vendor has a high level they pay less fees.
Levels
The Vendors can level up with every feedback or order they get.
What's your plan in regards to dealing with fake ones?
Thanks for the feedback (i really need that),
1. Decentralization
Projects like BitBazaar work on this problem but
if the market is centralized the community can
lead the market and staffs can moderate the market
without having access to the major baking (bitcoins, ...).
2. Multi signature Escrow
We simply use our own. The Vendors have a PGP and can more, maybe a mnemonic, uuid, auth token etc....
3. Levels
The feedback can be approved by the community, like Reddit. If anything suspicious happen staffs can handle it.