Foreign currency exchange contract in Solidity

terzim

Hi,

I was wondering whether anyone has developed a template of foreign currency exchange contract in Solidity. The way this could potentially work: Suppose I have a 100 Currency_X and I want to convert it into Currency_Y:

1) reads the exchange rate ether / Currency Y and ether / Currency X from a financial platform.
2) blocks that exchange rate for a period of 2-3 days
3) accepts incoming transactions from people who have Currency_Y at the predetermined exchange rate
4) if the funding target is achieved within the deadline (i.e. equivalent ether amount of 100 Currency_X), then it unlocks the transactions and releases the funds.

In essence, it would be similar to a crowdfunding exercise but with the ability to make a bilateral transfer of value and interact with the outside world to read exchange rates. Only fee to be paid would be the gas for running the contract (economical?)

Any thoughts?

Thanks - Massi

Pranay

Its nice idea to create currency exchange contract. We have created simple sample for currency exchange.

terzim

Hi @Pranay . Please let's share drafts. Where is your repository?

Pranay

Its in my local node as of now, i will create a repository and share with you ASAP.

sjoseph

@Pranay / @terzim do you mind sharing contract code if it is in a public repo. Thanks

Pranay

Hi @terzim , did you get it working?

terzim

@sjoseph my code for the p2p lending is here (based on crowdfunding dapp) - https://github.com/ethereum/dapp-bin/tree/master/p2plending

However, @Pranay has not share his code yet.

sjoseph

Thanks @terzim ...