Vision Statement
airbtc becomes an open source project project that works on software much like Bisq (in fact, forking Bisq v2 may make sense here), except that instead of trading BTC as a contract, you are creating short-term rental contracts (BTC trades underneath). For example, consider a market maker (home owner) that creates a rental contract offer (i.e., sell offer) and publishes that offer to the P2P network of nodes interested in such offers. This works very similarly to Bisq. Of course, a renter could also create a rental offer that can be taken by a property owner.
P2P Network for publishing offers
Much list Bisq, offers are published on the P2P network (or some other data structure, e.g., DHT, bitmessage, etc). When created, Offers (buy/sell) are backed by a security deposit by the market maker. This deposit services the same function as a deposit in Bisq multisig trades; that is, it encourages contract members to act rationally.
Potential renters can use the same software to see all offers relevant to them, and take those offers if they agree to contract terms.
This is an open system allowing anyone to create and engage in short-term rental contracts. Bisq provides the necessary infrastructure for creating such offers.
Arbitration
Currently in Bisq, arbitrators are the third parties that make decisions in the case of contract disputes. A similar role is available to airbtc users. Using the Bisq arbitration mechanisms helps reduce to the costs, making airbtc more cost competitive than its alternative (centralized company taking custody of user funds).
Note that costs are reduced BECAUSE we are using the multisig contracts with deposit directly using the Bitcoin blockchain, avoiding centralized custody of user funds. This enables companies like airbtc to NOT have to take (even temporary) custody, lowering costs. In other words, airbtc.online (a company) would be fee-for-service by performing fee-for-service .
, open set of independent arbitrators (new name tbd).
What is function of the arbitrators: design value-adds; what specifically are the roles and responsibilities of the arbitrator.
Discuss how the rental contract proceeds in accordance with the Bisq Multisig contract flow. Each party requires a deposit. Should there exist some dispute, the arbitrators decision determines which party deposits' are returned to. But if the contract proceeds without dispute (i.e., completes), each party receives their respective deposit back.
Discuss buy and sell orders in rental terms:
- rental offer (created by home owner); typical; owner selects preferred arbitrators that renter must agree to. Home Owner can potentially offer different set of arbitrators if he/she doesn't agree to sell offer.
- offer to rent (created by renter): offer to rent a house in a particular location during a specific time-frame for a range of BTC. Home owner must to terms or offer different set of arbitrators., etc.
Discuss the
TODO:
- Create a new sovereign stack website that deploys airbtc.design. Hosts the website for the airbtc open source project.