An Efficient and Decentralized Blockchain-based Commercial Alternative (Full Version)

Abstract

While online interactions and exchanges have grown exponentially over the past decade, most commercial infrastructures still operate through centralized protocols, and their success essentially depends on trust between different economic actors. Digital advances such as blockchain technology has led to a massive wave of Decentralized Ledger Technology (DLT ) initiatives, protocols and solutions. This advance makes it possible to implement trustless systems in the real world, which, combined with appropriate economic and participatory incentives, would foster the proper functioning and drive the adoption of a decentralized platform among different actors. This paper describes an alternative to current commercial structures and networks by introducing Lyzis Labs, which is is an incentive-driven and democratic protocol designed to support a decentralized online marketplace, based on blockchain technology. The proposal, Lyzis Marketplace, allows to connect two or more people in a decentralized and secure way without having to rely on a Trusted Third Party (TTP ) in order to perform physical asset exchanges while mainly providing transparent and fully protected data storage. This approach can potentially lead to the creation of a permissionless, efficient, secure and transparent business environment where each user can gain purchasing and decision-making power by supporting the collective welfare while following their personal interests during their various interactions on the network.