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reviewing legal issues on servicenode app for escrow.
brb
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There are escrow specific laws, but they seem to be relatively ok
http://www.dbo.ca.gov/Licensees/Escrow_Law/About.asp
Using servicenodes and multi-sig should be a very good way to provide this service. The buyer and seller are party to the multi-sig so they never actually lose control of the funds. That makes servicenode escrow very secure and low risk for the operators of the servicenodes.
They are just a keyholder to prevent one of the parties taking full control. The servicenodes never actually get control of the funds themselves.
This gonna be gud. This is a much, much better service than existing escrow services.
solid suggestion, but do you have the the technical experience/ wherehithal to implement this? If so, fantastic, I'll look forward to putting in my two weeks notice in the next 6 months. If not, perhaps we could create a bounty for someone to do so? reviewing legal issues on servicenode app for escrow.
brb
--->>
There are escrow specific laws, but they seem to be relatively ok
http://www.dbo.ca.gov/Licensees/Escrow_Law/About.asp
Using servicenodes and multi-sig should be a very good way to provide this service. The buyer and seller are party to the multi-sig so they never actually lose control of the funds. That makes servicenode escrow very secure and low risk for the operators of the servicenodes.
They are just a keyholder to prevent one of the parties taking full control. The servicenodes never actually get control of the funds themselves.
How much would you even pay for that huge amount? 