Misbahu-web · 2023/11/13
Decentralized Car P2P Purchase platform #881
A decentralized marketplace that leverages the Celo Blockchain technology to enable seamless and secure transactions for buying and selling cars.
Here's how the platform works:
1. Car Minting: Car owners can mint their vehicles as NFTs on the Celo Blockchain.
2. Listing and Discovery: Sellers can list their NFT cars on the platform, providing comprehensive details such as model, year, condition, price, and images.
3. Smart Contracts: The platform employs smart contracts to facilitate the transaction process. Smart contracts act as programmable agreements that automatically execute transactions once predefined conditions are met.
4. Escrow Service: To safeguard both buyers and sellers, an escrow service is integrated into the platform. When a buyer shows interest in purchasing a car, the required payment is temporarily held in escrow. Upon successful delivery and verification of the #car, the payment is released to the seller.
5. Verification and Inspection: Trusted third-party entities can provide vehicle history reports and inspection certificates, enhancing buyer confidence.
6. Decentralized Identity: Users on the platform have #decentralized identities associated with their #Celo Blockchain addresses.
7. #P2P Negotiations: Buyers and sellers can negotiate directly through the platform's messaging system.
8. Secure Payments
9. Feedback and Reputation System: After a successful transaction, both parties can leave feedback and ratings for each other.