Decentralized marketplace
system for
processing purchase transactions of physical goods, including: a) a tokenization module that generates a non-fungible token for each physical product on a
distributed ledger technology (DLT) and stores
metadata of the token in a decentralized storage
system; b) a marketplace program that provides at least functions for creating a listing,
purchasing (buy_now), submitting shipping information (submit_tracking) and confirming delivery (confirm_delivery); c) an
escrow smart contract which, upon triggering buy_now, locks a purchase token in an
escrow vault, transfers a transaction fee to a fee vault, and immediately delivers the non-fungible token to the buyer; d) a carrier
oracle that transmits a cryptographically signed delivery event with
timestamp and nonce to the
escrow smart contract, the
smart contract verifying the validity of the delivery event by signature
verification; e) a mechanism which, after successful
verification of the delivery event, releases the purchase token locked in the escrow vault to the seller; f) a mobile front-end that communicates with the DLT via a wallet adapter interface, transfers image data to the decentralized storage for tokenization and provides the marketplace functions mentioned in b) to the user.