OWNTRAD: a blockchain-based decentralized application for vintage E-commerce marketplaces.

Abstract

Nowadays, vintage e-commerce marketplace has grown significantly. As e-commerce expands, more and more products, including high-priced vintage product like designer apparel, jewellery, and vehicles, are being offered online rather than in brick-and-mortar shops and flea markets. Vintage items are seeing rapid expansion as shown in the rise of this sector on online marketplaces throughout the world. However, the problem of e-commerce vintage is lack of transparency and trust regarding vintage product. Therefore, the objective of this system known as Ownership Transaction Decentralized Application (OWNTRAD) offer the transparency information of vintage items and resulting the increasing the trust in buyer also higher in security because it applies Blockhain technology. The aim of OWNTRAD is to enable the tracking of ownership transactions to provide high in accuracy in getting correct price for buying and selling vintage product apart with the transparency and higher security in the system. OWNTRAD successfully developed with public Algorand network as the network ledger.