I get it that once the owner had the phone back they could give the "person whom found it" the other side of the key, (or release the Bitcoins). I don't think multisig works best in this case, you should jsut have a sticker that says "If found you will receive X amount of Bitcoins upon return"
Topic: Idea: Use Multi Sig to have lost property returned to you. (Read 625 times)
That would make it so much easier for thieves to fence their stolen goods. They would get paid by the owner and just say they "found" it.
Imagine the scenario where you lose your phone, jewellery or even your favourite pet. Often times people will offer a reward for the return of such items.
What if instead you attached part of a private key to the item and all a person would have to do is return it to get the other half of the key to claim a bitcoin reward ?
You could even use it alongside serial numbers on your household items so that if your stuff gets stolen you can prove you own it because you can redeem the bitcoin address attached to it.
What if instead you attached part of a private key to the item and all a person would have to do is return it to get the other half of the key to claim a bitcoin reward ?
You could even use it alongside serial numbers on your household items so that if your stuff gets stolen you can prove you own it because you can redeem the bitcoin address attached to it.
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