OpenPeer is a decentralized peer-to-peer (P2P) protocol for people to exchange crypto assets like Ethereum and USDT (Tether) for fiat money without centralized counterparty risk through escrow smart contracts. The protocol allows people from any country to exchange assets on any smart
contract-supporting blockchain network and with any fiat money payment network or bank transfer method.
The protocol is governed by a decentralized autonomous organization (DAO) that also arbitrates disputes between parties. Stakeholders coordinate through the protocol token, but OpenPeer users will not need to interact with the protocol token in order to complete an exchange. The dispute mechanism relies on game theory incentives for arbitrators to rule cases truthfully and to prevent bad actors.