The Anara platform helps users build trust on the stellar network.
We call Anara a Social Market Exchange to illustrate the elements required to build Trust. Trust meaning - "firm belief in the reliability, truth, ability, or strength of someone or something."
Social - allows users to talk about assets. You are more likely to buy something recommended by a friend.
Market - provides a public / private gathering for buying and selling goods or services.
Exchange - is the mechanism that makes it all work, users are able to buy, sell, hold or trade assets creating demand and liquidity.
How Anara uses Stellar
A user is able to create a stellar issuing account (aka issuer) for their business. An issuing account on Anara implements all of the pertinent stellar ecosystem protocols. e.g. creating a new market at anara.farm will also create the home domain and corresponding stellar.toml from SEP 0001. The domain will be able to interact with other anchors, banks, wallets, exchanges and other Anara entities by implementing SEP 0006
The business is then able to create new assets which represent their product or service. Assets contain all the data required to clearly identify what it represents (name, id, descriptions, images, keywords, categories, redemption instructions etc..) Once the business has created an asset they are able to create offers allowing them to sell or trade their goods.
Using the Stellar Exchange, Anara is able to provide the current market value for assets listed on the stellar network. Knowing the current market value allows both business and consumer the ability to negotiate and ultimately trade. When a trade is made trustlines are created between the buyer and the issuing account.
Anara is also building a system to track the trustline history of assets. Visualizing the trustline history allows users to determine the strength and reliability of any given asset on the network. e.g. a blueberry farmer who has acquired 1000 trust lines in a season indicates that their product is something people enjoy. Where as a blueberry farmer who has lost 500 trust lines indicates declining trust in their product.
The Benefits of Anara on the Stellar Network
The Stellar network acts as a distributed exchange for assets which can be used to track, hold, and transfer any type of asset. e.g. blueberries, chickens, eggs, coffee rewards, dollars, euros, bitcoin, stocks, gold and any other tokens of value.
Any asset on the network can be traded with any other. When you hold assets in Stellar, you’re actually holding credit from a particular issuer. The issuer has agreed that it will trade you its credit on the Stellar network for the corresponding asset, thus creating a trustline
When you hold an asset, you must trust the issuer to properly redeem its credit. Since users of Stellar will not want to trust just any issuer, accounts must explicitly trust an issuing account before they’re able to hold the issuer’s credit. This is the problem that Anara aims to solve, building trust.