I am building a site similar to localbitcoins.com and am interested in feedback before I get too far along. Thanks
Overview:
Inspired by the bitcoin-only service localbitcoins.com, localstellarassets.com seeks to solve the problem of limited access for users who wish to market or purchase Stellar Lumens (XLM) and other Stellar tokenized assets, in their local currency. This globally accessible service is designed to provide a secure marketplace with built-in escrow facilities for Stellar assets, allowing sellers to advertise the assets they have for sale, the currency and the exchange rate sought.
Potential buyers can make an offer for purchase, then arrange directly with the seller, the time and method of exchange of that local currency, for the purchased asset. localstellarassets.com will then take the stellar asset being sold into escrow, holding it until instructed by the seller to release the volume to the buyer, as an indication of receipt of payment. The process permits the buyer to verify the legitimacy and integrity of the asset being purchased, before transferring the agreed payment amount. It also protects the seller from risks of fraud associated with failed or insufficient payment, while maintaining a simplified purpose-built interface which does not require prior trading knowledge or experience, time or the hassle traditionally associated with crypto-currency exchange services.
Furthermore, since localstellarassets.com does not come in direct contact with, nor partake in the processing of the payments being exchanged, there is a considerable reduction in the responsibilities, risks or regulatory approvals required for the provision of a currency exchange service.
