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Towards Decentralized and Secure Electronic Marketplace

Explore the concept of Decentralized Electronic Marketplace (DEM) through Law Governed Interaction (LGI) as a solution for trust and security issues in online trading. Learn about the implementation using Java and Prolog, with a focus on an example marketplace for Airline Tickets. Compare traditional and electronic marketplaces, and review related work to understand the scalability and reliability of DEM. Consider the need for a commercial controller service for widespread adoption. Discover a practical approach to achieving trust and security in digital trading.

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Towards Decentralized and Secure Electronic Marketplace

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  1. Towards Decentralized and SecureElectronic Marketplace Yingying Chen, Naftaly Minsky, Constantin Serban, and Wenxuan Zhang Dept of Computer Science Rutgers University May 6, 2005

  2. Outline • On the nature of marketplaces, and their conventional electronic realization. • Decentralized Electronic Marketplace (DEM), and its implementation via LGI. • A marketplace for Airline Ticket – An Example • Related Work • Conclusion

  3. Market Place Essentials • A venue is required for buyers and sellers to find each other and conduct trading of merchandise. • A degree of trust between buyers and sellers is required.

  4. Electronic vs. Traditional Marketplaces • Traditional marketplace (e.g. Farmers Market, Shopping Mall): • The venue of trading is physical and characterized by geographic proximity. • The trust is generated by traditional societal means—such as familiarity, local laws, local customs, and local police. • Electronic marketplace: • No geographic proximity, thus no human interaction, and no common customs and laws. • The question is: how to regain the necessary trust among the trading parties?

  5. Conventional Approach to E-Market • Trust is established via a central mediator that enforces a set of rules and maintains reputation. • Example: ebay.com, pricingcentral.com/ford • Limitations: • Very expensive to establish, if the marketplace is to be scalable and reliable. • The rules of trading are usually implicit in the code of the mediator, and thus quite obscure.

  6. The Proposed Decentralized Electronic Marketplace(DEM) • Based on Law Governed Interaction (LGI)---a decentralized coordination & access control mechanism. • Interaction between buyers and sellers does not involve any central mediator. • All participants in the marketplace operate via their private controllers, all carrying the same “law of the market”, L. • The marketplace is defined by its law.

  7. Banks Banks Banks Airlines L L L L L L Buyers Sellers Law L L L L L L L Auditor Certification Authority Airline Ticket Marketplace (overview) L Controller Agent

  8. Some Trust Requirements • Airline tickets cannot be forged. • Credit card submitted to a seller can be used only for the specified payment. • Money back guarantee would be honored. • One cannot lie about his/her own reputation.

  9. seller s airline bank sell credit card check req t L L L distribute ticket al ba credit card check resp t t L buy t b buyer Implementation of DEM t controller agent

  10. Implementation of DEM(Trading Law, Cont.) • URL location of the law: • Java law: www.cs.rutgers.edu/moses/examples/marketplace/trade.java1 • Prolog law: www.cs.rutgers.edu/moses/examples/marketplace/trade.law

  11. Implementation of DEM(Performance Evaluation) • Overhead added by a pair of controllers: • Depend on the complexity of the law: 20 – 200 µs • Negligible over WAN • Acceptable over LAN

  12. Controller Service I I I I I I m ==> y y x adopt(…) m’ L L adopt(L, name) adopt(L, name) adopt(…) m’’ Deployment(Using Distributed TCB) Implemented by Moses Middleware

  13. Related Work • European SEMPER project [Wainder, M. et.al. 1996-2000] • Proposed a secure electronic marketplace for Europe • Basic trust assumption has been that each user trusts his or her own machine, but not the machine of the partner. • Had no continuation after the project has been completed in 2000. • Distributed Digital Commerce [Schemees, M. 2003] • Discussed the benefits of decentralized market for digital goods. • Studied the processes involved in digital trading and their implementation using P2P communication • Proposed no mechanism for achieving the trust and security in the marketplace.

  14. Conclusion • Proposed the concept of DEM (Decentralized Electronic Marketplace) • Completely decentralized, fully scalable, and lightweight. • Security and trust are provided by a single, unifying law that governs all the transactions made through the marketplace – in some analogy to the laws that govern the traditional marketplaces. • Proof of concept provided by an implementation of the airline tickets marketplace • Implemented in both Java and Prolog trading law • Demo will be available on the web site of LGI release • Realization of DEM needs a widely deployed commercial controller service, to act as a distributed trusted computing base (DTCB).

  15. The End Thanks ! & Questions ?

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