How do we do a two party exchange in an untrusted environment, an environment where secure elements are not available? We need the standard database lock and write mechanism, and a simple third party clearing service, a token service.
A secure two party bot somewhere handles the problem.
Give the secure clearing bot the bitcoin address and fullfillment ID to be exchanged. The handler bot locks that bitcoin address on the block chain with a lock broadcast. The handler also locks the 'delivery' system for the ID in question reserving a delivery path.
So far, we have a data base locking issue, databases with multiple asynchronous access have to lock, it is nothing to do with block chain. Blockchain is a distributed database, all that means is database commands are broadcast, but the rules remain the same..
Now the third party bot is a third party, and a bot but the bot is a known and verifiable token service known to all the pits and ledger services. So pits and ledgers can lock an account upon request. The clearing bot will be verifiable secure, or will be a legal fraud. But basically, it does the simple escrow service. What is new, the obvious problem, block chain n needs to have lock capability, it is just a database thing, sorry.
Blockchain address locking is not very expensive
Exchange blocks that are not locked go through normally, only exchanges that request the lock be released need check the lock list. And, an exchange receiving a block request need only remember the address.
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