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      Safeguarding Physical Sneaker Sale Through a Decentralized Medium

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          Abstract

          Sneakers were designated as the most counterfeited fashion item online, with three times more risk in a trade than any other fashion purchase. As the market expands, the current sneaker scene displays several vulnerabilities and trust flaws, mostly related to the legitimacy of assets or actors. In this paper, we investigate various blockchain-based mechanisms to address these large-scale trust issues. We argue that (i) pre-certified and tracked assets through the use of non-fungible tokens can ensure the genuine nature of an asset and authenticate its owner more effectively during peer-to-peer trading across a marketplace; (ii) a game-theoretic-based system with economic incentives for participating users can greatly reduce the rate of online fraud and address missed delivery deadlines; (iii) a decentralized dispute resolution system biased in favour of an honest party can solve potential conflicts more reliably.

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          Author and article information

          Journal
          20 May 2023
          Article
          2306.05359
          05af8e31-a2f2-49ab-80e0-35bb972d0221

          http://creativecommons.org/licenses/by/4.0/

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          Custom metadata
          27 pages, 6 figures, 7 tables
          cs.CR cs.GT

          Theoretical computer science,Security & Cryptology
          Theoretical computer science, Security & Cryptology

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