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P2P Fiat-Bitcoin Exchange

Manfred_KarrerManfred_Karrer Member Posts: 17
edited February 2014 in Projects
I have written a concept for a P2P Fiat-Bitcoin Exchange.
I would like to implement that as well for Ethereum but at the moment I am focussed on the BTC side and I am still in the conception phase.
I am looking for developers, so if anybody interested let me know!

The technical building blocks are 2 atomic transactions for locking and releasing the funds using 2 of 2 Multisig and off-chain tx passing.
Conceptionally it use collaterals to gain a Nash equilibrium. So there is no situation where inhonest behaviour would lead to winnings, instead both would lose money.

Here is the paper:
https://docs.google.com/document/d/1d3EiWZdaM89-P6MVhS53unXv2-pDpSFsN3W4kCGXKgY

High-level overview of the protocol:
http://nucleo.io/bankrun/flow/bankrun.png

Discussion:
https://bitcointalk.org/index.php?topic=462236.0
http://www.reddit.com/r/Bitcoin/comments/1xsona/bank_run_p2p_fiatbitcoin_exchange/

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