Trade Route: An Anonymous P2P Online Exchange Market Using Blockchain Technology

Abstract

Due to the Internet rapid growth, e-commerce is becoming a new way for businesses to market their listings online and not be limited to local customers. Many buyers like to shop online because of the convenience. However, when clients shop online, many concerns emerge, such as worrying about how personal data will be handled, how secure/private the online site is, and whether or not the website should be trusted in the first place. In this paper, we propose a novel approach leveraging the blockchain technology to create a platform that helps peers exchange goods without the need to go through an intermediary or the use of any traditional currency. All peers in this platform will have to sell their goods in exchange for “Trade Coins” that are only usable in the “Trade Route” market.