Transparent Safe
To prevent online auction fraud, this study introduces an online auction fund-item exchange mechanism called Transparent Safe. The Transparent Safe allows the buyer and the seller to see the amount of funds inside the safe, without the ability to remove any of it without proper keys. To obtain the necessary keys, both of them have to follow a set of pre-defined protocols and perform a series of confirmable actions. This research shows that the best strategy for both sides of the exchange is to follow this protocol precisely.
transparent safe online auction online fraud settlement