Paper 2023/727
Safeguarding Physical Sneaker Sale Through a Decentralized Medium
Abstract
Sneakers were designated as the most counterfeited fashion item online, with three times more risk in a trade than any other fashion purchase. As the market expands, the current sneaker scene displays several vulnerabilities and trust flaws, mostly related to the legitimacy of assets or actors. In this paper, we investigate various blockchain-based mechanisms to address these large-scale trust issues. We argue that (i) pre-certified and tracked assets through the use of non-fungible tokens can ensure the genuine nature of an asset and authenticate its owner more effectively during peer-to-peer trading across a marketplace; (ii) a game-theoretic-based system with economic incentives for participating users can greatly reduce the rate of online fraud and address missed delivery deadlines; (iii) a decentralized dispute resolution system biased in favour of an honest party can solve potential conflicts more reliably.
Metadata
- Available format(s)
-
PDF
- Category
- Applications
- Publication info
- Published elsewhere. ArXiv
- Keywords
- BlockchainDistributed SystemsMarketplace MatchingIncentivesNFTSneakersGame TheorySmart ContractTrustless
- Contact author(s)
-
marwan zeggari @ lyzis tech
aydin abadi @ ucl ac uk
lambiotte @ maths ox ac uk
muk36 @ psu edu - History
- 2023-05-22: approved
- 2023-05-20: received
- See all versions
- Short URL
- https://ia.cr/2023/727
- License
-
CC BY
BibTeX
@misc{cryptoeprint:2023/727,
author = {Marwan Zeggari and Aydin Abadi and Renaud Lambiotte and Mohamad Kassab},
title = {Safeguarding Physical Sneaker Sale Through a Decentralized Medium},
howpublished = {Cryptology {ePrint} Archive, Paper 2023/727},
year = {2023},
url = {https://eprint.iacr.org/2023/727}
}