Proof of Concept for an p2p open market for insuring escrow based transactions on the blockchain.
Suppose Party A is a malevolent corporate competitor to Party B in the manufacturing industry. In the pursuit of total market domination, Party A attempts to grief Party B by increasing it's inventory loss and accounts receivables default rate by making multiple orders and withdrawing the payment at the last minute.
Being suspicious, Party B demands that it will only go through with the transaction if Party A creates an insured escrow transaction. In the event that Party B sends the goods, but Party A decides to default on the transaction, a third party Party C provides insurance up to the maximum value of the transaction to be paid out to Party B for inventory loss expenses.
If, however, the transaction goes through, Party C is paid a premium on the transaction value, for providing insurance services and absorbing risk.
- Clone repo
$ git clone https://github.com/aquaflamingo/Ethereum-Open-Transaction-Insurance-Market eotim
cd eotim && npm install- Start
ganache-cli - Deploy contracts:
run
truffle migrate --reset - Start the server:
npm run start - Navigate over to http://localhost:3000
- Make sure you have MetaMask
- ???
- Profit???
- Escalation of claims on transaction to disburse insurance back 🔥
- Proof of Goods Arrival // defaulting of payment to counter party 🔥
- Registry Contract with insured, owned, settled contracts for queries
- View my insured transactions view 🔥
- Better architecture with registry and action relayer
- Filtering market contracts
React, Redux, Truffle, Solidity
This repository code is open sourced under Apache 2.0