A Distributed Asset Trading Mechanism Based on Automated Negotiation

Abstract

Asset digitization is an important part of digital society. However, there are many problems in existing centralized asset trading platforms, for example, the platform has the dominant power in the transaction process and holds a large amount of user data, which is detrimental to users’ interests. To solve these problems, we propose a distributed asset trading mechanism based on automated negotiation. Firstly, we propose a distributed asset trading framework based on the consortium blockchain, which provides trust guarantees for trading through the access control of the consortium blockchain, represents the ownership of assets through non-fungible tokens (NFT), and reduces the blockchain burden by moving the negotiation process off the blockchain through the state channel technology. Then, to reduce the negotiation cost and improve the negotiation results, we propose a bilateral automated multi-issue negotiation model for asset trading. The experimental results show that the negotiation model performs well in terms of success rate and negotiation time, and can achieve win-win agreements.