The project is about to introduce a new decentralized reputation and payment system. It aims at enabling seller/buyer trust based on their reputation aggregated from several peer-to-peer platforms.
Ink Protocol is developed by Listia, a P2P marketplace for buying and selling used goods online. Launched in 2009, the marketplace now has over 10 million registered users who have exchanged 100 million items.
Simple use case: Imagine that your Airbnb, Amazon, Craigslist, Leboncoin, Ebay reviews could be used from one platform to another one. For example, you could capitalize on your reputation from your Airbnb reviews to sell something on Ebay easily.
Is to provide Sovereign Consortium Blockchains to different use cases, to build a blockchain based infrastructure for the Creative Industry where various applications were possible and correlate to each other in one system. Based on public blockchain (Qtum), an Intellectual Property Assets Exchange is built as a trusted corridor for cash generation and token issuance, making it an integrated ecosystem. At the same time, the cross-chain protocol enables value and information to flow freely between public blockchain and consortium blockchains.
Ink Protocol helps users safely send and receive payments in P2P marketplaces while earning public reputation for every completed transaction. Sellers can take their earned reputation with them from marketplace to marketplace. To ensure sellers’ reputations are credible, feedback may only be given on completed transactions.
Ink Protocol’s built-in dispute resolution allows a mediator to be assigned to a transaction. Mediators exist as independent Smart Contracts and are jointly agreed upon by the buyer and seller. With mediation, payment is held in escrow until the buyer confirms the transaction. In the event of a dispute, the mediator works with both parties to decide on an outcome.
The Ink Pay app will be released soon after the Ink Protocol becomes available. This will immediately allow buyers and sellers to make and receive payment for items on third-party marketplaces like Craigslist, Facebook Marketplace, OfferUp, and more.
Check out https://paywithink.com for more info about project!
