Technologies Used
ReactJSSemantic-UI
npm
node js
ExpressJS
MasterCard Blockchain
Mastercard Blockchain APIs
protobuf
Project Team
About
Most people do have valuable items at home that they will never ever use. The current solution of selling on Craigslist or trading into electronic shops is inefficient. The former will result in receiving lowball offers as well as getting ghosted. The latter might be faster, but the monetary value is extremely low. Both solutions are suboptimal. Introducing Leylong, a new P2P reverse auction protocol that allows users to sell their items the soonest possible at the highest price. A smart contract and price floor will be offered to sellers, and the product will be listed on the e-commerce site with a reverse auction. By offering price floor, a seller will sell their product regardless if there are bidders, as long as time is up. A reverse auction, will economically optimise the seller’s economic surplus, based on the maximum demand of the market. The experience is empowered by Mastercard’s blockchain, as it is immutable, transparent and has high throughput. Let us recreate the next generation of trustable P2P e-commerce together.
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