''Sellers can use Spl.yt to innovate new services because our smart contracts can be used to “timeshare anything” that the seller lists with the decentralized global inventory. Similar to how timeshares allow many parties to collectively purchase, own, use, and manage a piece of real estate, Spl.yt’s ecommerce-tailored mechanisms create a framework for individuals to collectively purchase, own, use, and manage any form of property according to their own needs, such as cars, art, musical instruments, industrial equipment, or sports season tickets. Because interest in fractionally owned assets is tracked on the blockchain, they can be bought, given, sold, leased, or otherwise transferred, just like ownership interests in traditional fractional ownership systems.
Marketplaces and sellers can opt to create collective Spl.yt listings that automatically initiate a DAO, decentralized autonomous organizations, governance contracts for collective asset management (“Spl.yt DAOs”). Spl.yt DAOs can collectively choose service providers to maintain assets and be used to cooperatively assign individual usage rights.
Alternate Dispute Resolution Protocol: The legal system creates a strong behavioral incentive in virtually all transactions, and ecommerce is no exception. The threat and reward of litigation encourages everyone to act in good faith and to police each other’s behavior, creating atrustworthysysteminmostcases.Nonetheless, enforcing previously-agreed transactions through the court system can be prohibitively time-consuming and costly for anyone, let alone smaller consumers, marketplaces, or sellers.
SAT’s logic is specifically designed to leverage the positive aspects of dispute resolution. The system is based on a double-staking method:
1. Parties must stake a small number of SATs when they engage the platform, which will be returned to them or go to other parties if justified or desired upon a transaction’s successful completion.
2. Any party interested in disputing the first party’s good faith behavior may stake a matching amount of SATs to indicate skepticism.
3. The first party may then concede that there was poor behavior (e.g., a spam listing or a missed shipping deadline), and surrender the stake to settle the dispute However, if the first party’s confident in that party’s behavior, then that party can stake additional SATs (up to the first staked amount).
4. The disputing party can either surrender that party’s original stake or place a second matching stake to indicate confidence that the first party indeed behaved improperly.
5. If both parties double-stake, then the dispute is sent to a third party who can analyze the evidence and arbitrate, with a portion of the double-staked amount going to the arbitrator for their efforts and the rest going to the winner of the dispute. This double-staking method can be leveraged at any point where human actors are capable of bad faith actions in order to discourage that behavior and give all users confidence in the system.
These are our official social platforms:
Website:
https://www.spl.yt/Telegram Chat:
https://www.reddit.com/r/splyt/Reddit:
https://www.reddit.com/r/splyt/Twitter:
https://twitter.com/splytcoreMedium:
https://medium.com/splytcoreFacebook:
https://www.facebook.com/splytcore/Github:
https://github.com/splytcore''