(Final Project: Consensys Blockchain Developer Bootcamp)

Really Really Free Market (Idea One)

Overview

The Really Really Free Market (RRFM) is distributed network of peers which allows for the trustless gifting of material goods.

Mechanism

• Peer A lists an item in the marketplace
• Peer B requests ownership of the item
  • The item is taken out of the marketplace until Peer A responds to the request.
• Peer A accepts or rejects the request
  • If the request is accepted:
    • A verification process is triggered on the network
    • Once the request is verified the state of ownership of the item is transfered to Peer B
    • A (hypothetical) self driving vehicle or drone is then triggered by a smart contract to deliver the item to the new owner.
    • Confirmation of delivery by Peer B ends the transferal process (and potentially rewards Peer A with a token?).
  • If the request is rejected:
    • The item is placed back into the marketplace

Tokens

Tokens ensure that the marketplace is not misused.

• On joining the marketplace the user recieves x amount of tokens
• When a peer recieves an item from the marketplace x amount of tokens are deducted from their account
• When a peer lists and succesfully gifts an item to another peer x amount of tokens are deposited in their account
• If a user has 0 tokens they cannot request an item from the marketplace.

Notes on Concept

• The concept is based on the real world "Really Really Free Market" which allows for the gifting of goods and services. Further Reading: [Really Really Free Market - Wikipedia] (https://en.wikipedia.org/wiki/Really_Really_Free_Market)

Running the app

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Fallback Ideas

• Seed Exchange