Civkit, a project attempting to revitalize After a dedicated year of work, the global peer to peer economy has released its first beta version. Protocol aims at enabling peer-topeer trading decentralized, removing the need for an order book. It is built around Nostr, Lightning and a reputation-based system.
Nicholas Gregory and a group of anonymous developers have been quietly working to make this vision a reality. “The project is funded by people in the global south. Much of the work has involved understanding their actual needs rather than imposing our assumptions,” says Gregory. “Ray Youseff and Noones have provided funding for some developers, including one who lives in the global south, allowing us to test in regions where this solution is most needed.”
It provides an interface to generate P2P orders. This allows you to make buy/sell trades between peers, to pay hold invoices and to chat with trading partners. You can also confirm the fiat payment received, open disputes in the chat application, or view all other trade orders.
CivKit’s custom Nostr events types allow orders to be distributed among Nostr Relays that support these types, creating a global Orderbook. This system locks 5% of trade value in an invoice that is then released after the trade has been completed. The URL to the encrypted chat is given. It includes basic dispute functions.
In two weeks, the team plans to release the beta version of Civkit’s reputation system. After this the team will focus on federating Fedimint’s order book and escrow and subsequently integrating eCash.
“This is a very ambitious project with a long way to go, but it’s exciting to see our first tangible results,” Gregory adds.
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Source: bitcoinmagazine.com