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December 04, 2017, 02:41:48 PM |
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For the decentralized marketplace, I am interested in understanding how the marketplace will handle reputation, reviews, and disputes. Since the marketplace will be peer to peer and decentralized, presumably a seller or a buyer could use a different Phore address and therefore a different identity for every transaction and there may be no easy way to associate past transaction history with a listing you are looking at.
A solid escrow system built into the Phore blockchain should solve many concerns in this area, and I'm excited to see what options are available for that--perhaps you might even offer multiple escrow options if there are different use cases more suited to different escrow methods, or that may appeal more or less to different people. If so, it might be a good feature to let sellers offer multiple escrow options, let buyers search/filter on the escrow options they want to use, and support the selection of the escrow option they want as part of the purchase.
Apart from escrow, I'd love to hear the developers' perspectives on whether or not a persistent reputation score makes sense in this context, and if so, how that would work to keep a history of all of the users' transactions--essentially, what would be used to associate those transactions with the user's identity. Perhaps it could be made optional, by allowing an identity and reputation score to be kept for a single Phore address and having a review reputation score feature kept for that address, so that sellers or buyers who want to offer that as part of their "brand" can do so, understanding that there may be a slightly elevated risk to their privacy by doing so.
Outside of that, and this may be longer term, I think it would be great to make it very easy and user friendly for people to convert their local currency directly into Phore and anonymize it with the zerocoin feature, right from a mobile device. I'd like to see this marketplace available to everyone and not require someone to go through the steps you need to today to convert local fiat currency to bitcoin, and then trade it for Phore before being able to use the great zerocoin anonymisation and privacy features. It might even be a great service to build right into the marketplace, allowing users to trade local currency for Phore, although that would likely require some kind of bridge with the credit/banking system or fiat currency peer to peer payment services like PayPal or Venmo, and might have the challenges that come with those systems as a result (e.g., what if the PayPal user disputes the charge after buying Phore).
Finally, a completely decentralized cryptocurrency exchange could be a killer app feature all by itself. With the hacking incidents, accusations of corruption, etc. with some centralized exchanges, it would be a great option to allow a solid escrow-based cryptocurrency exchange that is truly decentralized, with lower fees and full API support for 3rd party products and services to integrate with it, and importantly no worries about withdrawal limits or identity verification that are common complaints on current exchanges. It would be interesting to understand what could be done to provide a website/graphical interface and how to manage scalability of a feature like that which I think could take off like wildfire.
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