Automatic Fair Exchanges

Abstract

In a decentralized environment, exchanging resources requires users to bargain until an agreement is found. Moreover, human agreements involve a combination of collaborative and selfish behavior and often induce circularity, complicating the evaluation of exchange requests. We introduce MuAC, a policy language that allows users to state in isolation under which conditions they are open to grant their resources and what they require in return. In MuAC, exchange requests are evaluated automatically with the guarantee that the only exchanges that will take place are those that mutually satisfy users' conditions. Moreover, MuAC can be used as an enforcement mechanism to prevent users from cheating. As a proof of concept, we implement a blockchain smart contract that allows users to exchange their non-fungible tokens.