An online auction platform based on blockchain, using Parity PoA in a Private Network
This aims to be create/add asset from user to on chain by creating a hash, then user can let go his/her regusterd product on to the Auction Table.
This is meant to facilitate auctioning off any non-fungible on-chain asset. Anything represented by an interfaced non-fungible asset token can be auctioned, not ERC20, but need to create equivalent protocol standard for offchain assets.
- Auction a name on the Ethereum Name Service
- Auction off an on-chain virtual good (a digital baseball card or a token that represents ownership over a powerful sword in a blockchain backed RPG)
- Auction off a real world good that’s represented by a token on the blockchain (a concert ticket, or a futures contract)
- Auction off a block of on chain assets that would be difficult to sell all at once on an exchange (10% of all REP tokens).
- Auction off a token that entitles one to a role in an on-chain economy (a board membership token in a DAO, who has power to whitelist proposals)
- Auction off ownership of an account in a service (user in a game is represented by a token...transfer the token)
The use cases are yet to be defined for this.