Quote from: robelneo on November 22, 2016, 01:53:38 PM

Quote from: massnetwork on November 22, 2016, 01:06:29 PM

Quote from: Shkembe on November 22, 2016, 12:00:29 PM

Third party escrow?

First of all, please scroll back this thread a bit and you will see the answer. In short the answer is "please offer someone for the escrow, we will consider if that person has any more esteem as our dev do who are mostly quite well-known".

But let me add something.

"Escrow" has become a part of the genre here in alt coin section. It's a cliche similar to why the forum for cryptocurrency has to have ugly and outdated UI. For the same reasons that nerds and geeks in movies don't comb their hair, don't take shower, and wear cheap clothes that doesn't fit. For no reason. Because it is just not true. And crypto community needs a normal UI forum not this piece of shit. That's one thing.

Secondly, If I understand it correctly, the term "escrow" means an arbiter that guarantees:

(1) either that the money that are meant for some specific purpose should be kept unspent until the time comes;
(2) or the money has to be forwarded to a designated party under the fulfillment of specific conditions.

__

Mass Network sell an app coin, that fuels the specific [already existing] application. There's no requirement or need to have any USD or BTC to create the coin at the announced moment. So, there's no purpose to "hold" the funds as in item (1). It's like when you are offered to buy bitcoins, you just buy some bitcoins. Or course, Mass coin is far from being a bitcoin. But it is of the same nature. Technically, there's no problem to emit it because it is just a Colu.com asset. Even if CEO runs away with the corporate cash, there's just no problem to create a distribute the coin. It will be created and it will be distributed, at least because some dev own it (well, WILL own after the distribution) and because there are already quite a few people who have invested. So why waste it? Why would anyone on this planet waste a chance for a pump-and-dump, at least?

Now, to the item (2). Mass Network does not sell equity (as shares of a DAO, for example). Therefore, it does not offer any part of control over ways of product development. So, there's no specific designated party that needs to be protected.

Considering this, what might an escrow exactly do for Mass Network? What functions of it do you mean could you elaborate, please?

You have a clear and logical explanation,why you should not hire an escrow,but time can only tell if this is the right decision,I hope it is.Massnetwork could be one of the crypto currecy Ico that do not hire an escrow and had a success with it,I guess with this many will follow your leads.

We don't "hire" an escrow because we can not understand what it means. Who exactly is good enough for us just to give a spare key of the apartment and 2FA to the e-mail account? Who's that? Someone that can be "hired"? This is nonsense. Barack Obama? Would he be interested.

"Escrow" is just part of the scam genre. You don't need an escrow if you just sell an app coin. You can't have an escrow if you got something that's valuable.