Post
Topic
Board Legal
Re: Bitcoin he-said she-said, or, will digitally signed payment requests be needed?
by
sunnankar
on 13/09/2012, 18:45:01 UTC
Well, actually I have scenarios and have no solution to offer.

....

That being said, if there were a protocol built in and it were to become generally adopted, it would probably find itself becoming a legally recognized method shorly after as well.

Oh, I think I understand your issue now. I have been helping a few people with some .... large transactions. With the real estate transaction the Seller of the property is providing the BTC address for payment in the documents to the escrow agent. Sure, this escrow agent handles unusual transactions, one involving like 10+ chimpanzees a few years ago, but that is one work around or possible solution.

I am sure the problem could be solved with an online solution but it may take a third party or network where a payor assets an address for payment and payees can check or verify that a wallet address belongs to the payor.

By analogy, the individual assets that X LLC exists with Y being the registered agent and the other party can verify via the Secretary of State website that X LLC exists and who the registered agent. A similar method could be implemented where X LLC provides a central location, whether a party or network, with a public key and then on X's website can assert they control a particular wallet for payment purposes and the payee can verify. I would think a protocol could be built to accomplish this.