Confession! I've been HODLing this bottle for awhile now. The remaining bottle of two we've got from Narita duty free shop. Now with current supply crisis and the upcoming Tokyo 2020 Olympics, this particular bottle is rather hard to come by. Anyway my article today is relating to transacting protocol if I decide to sell it.
Method 1 - Cash on Delivery.
Easy and simple. Bring the bottle to prospective buyer. Let him or her and their appointed 'expert' to inspect. If happy, cash for item. Done deal. Risk being mug losing all and logistics overhead is a concern.
Method 2 - Retail or auction premise
A more relevant and targeted audience. Transaction can assume COD or through establishment's merchant payment account. Counter party risk of shop goes missing similar to centralize exchanges.
Method 3 - Using bitcoin.
This method can be like many decentralize exchange. By utilizing a 2 of 3 multisig wallet with seller, the buyer and a 3rd party independent arbitrator.
Buyer deposits 1 BTC into the 2-of-3 multisig wallet to show his intention to buy is real. After six confirmation, product can change hands. If buyer agrees to buy, then buyer and seller can transfer the 1 BTC to the seller's personal wallet. If buyer disagrees, then seller takes back the merchandise and transfer the 1 BTC back to seller's wallet. If there is a dispute, then the arbitrage can be engaged to decide who to transfer that 1 BTC.
However, do note this scenario is base on an assumption all parties are honest.
Method 4 - ICO the bottle content.
Let say we issue 25000 tokens at USD 0.20 per token or 0.001 ETH per token. Every 1000 token entitles the bearer to claim ownership of 1 small peg (~30ml). Token bearers entitle to vote to keep the bottle or open to drink. This method disregards the geography limitation bearers that ICO has no bound and the bottle custodian risks. The asset will appreciate over time, since product was discontinued for some time now.
There you have it. Four possibilities to sell premium item like these. Are there any other ways?
Posted from my blog with SteemPress : http://joebabana.vornix.blog/2018/10/12/transaction-protocols/