Re:A decentralized anonymous marketplace
by runeks on Tuesday March 25, 2014 @08:00AM
(#7465255)
Escrow services would have to be an integral part of the architecture.
The buyer pays the vendor via an, initially, unsigned multisig 2-of-3 transaction, and the goods are sent when the buyer, the vendor and the escrow service each hold a copy. When the buyer receives the items, he signs the transaction and sends it to the vendor, who signs it and it's valid.
If a dispute occurs, the escrow service will have to decide the case, and side with whichever party it finds most credible. A reputation system for escrow services will be as important as one for vendors, as far as I can see, and they need to be compensated for their service, of course.
The buyer pays the vendor via an, initially, unsigned multisig 2-of-3 transaction, and the goods are sent when the buyer, the vendor and the escrow service each hold a copy. When the buyer receives the items, he signs the transaction and sends it to the vendor, who signs it and it's valid.
If a dispute occurs, the escrow service will have to decide the case, and side with whichever party it finds most credible. A reputation system for escrow services will be as important as one for vendors, as far as I can see, and they need to be compensated for their service, of course.