Particl – A Decentralized Private Marketplace Whitepaper

Particl - A Decentralized Private Marketplace Whitepaper

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The online services we use are increasingly demanding more of our personal data, a disturbing trend that threatens the privacy of users on a global scale. Entities such as Google, Facebook and Yahoo have grown into colossal, seemingly unaccountable corporations by monetizing their users’ personal data. These entities are charged with keeping said data secure and, in the case of social and economic interactions, safeguarding the privacy of their users. Centralized security models are not applicable to the new generation of technologies such as Bitcoin. This paper discusses a system which combines a Bitmessage-style network with anonymous payment schemes to create a privacy-centric marketplace. Furthermore we apply a multi-signature escrow technique involving insurance deposits should which deter fraudulent actors from participating in trades, given that their incentive is to make a profit.