W3C home > Mailing lists > Public > public-webpayments@w3.org > September 2013

Attempts for payment escrow

From: <eanders@pobox.com>
Date: Tue, 17 Sep 2013 11:00:31 -0400
To: public-webpayments@w3.org
Message-ID: <3f38b90d8c9f5386c04c737ca62fce0d@pobox.com>
In short, attaching conditions to the spending of sent virtual currency.

Example: Buyer and Seller must both use their digital signature to 
unlock the spending of a sent virtual currency.

IMO, this is one of the largest dropped balls in Bitcoins, Ripple, 
etc...  Also proof of transactions is the 2nd dropped ball.

Sure, not perfect, some risk like extortion for very large transfers, 
but its a step in the right direction.  A web payment system will never 
be general public accepted if "all transactions are always final, and 
no, there is no recourse if you were ripped off, too bad, so sad".

Erik
Received on Tuesday, 17 September 2013 15:17:21 UTC

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