I'm offering escrow services using an Ethereum Dapp, called EscrowMyEther: http://escrowmyether.com/
ANN thread: https://bitcointalk.org/index.php?topic=2221107.0
How it works
The buyer initiates an escrow transaction, specifying a seller and escrow agent. The smart contract locks the buyer's funds. Once the buyer receives the item, he can release funds to the seller.
In case of dispute, escrow agent can step in to refund the buyer, or release funds to seller. Seller can also refund the buyer at any time. When the transaction is complete, the seller or buyer (if refunded) can withdraw their funds. Escrow agent can withdraw their escrow fees.
The Dapp dashboard allows the buyer/seller/escrow to view and interact with their escrow transaction history. The Dapp's code is open source and runs from the blockchain. Here's the code: https://etherscan.io/address/0x1c02ce498dc6d0d6ef05a253e021258b07eeba91
Some screenshots
Why it's secure
The smart contract locks the buyer's funds. The Escrow agent never touches the funds, he only has the ability to refund the buyer, or release funds to seller. Even in the rare scenario the escrow agent is compromised, the hacker can only refund/release funds, but cannot steal funds.
Try it out
If you offer escrow services too, you might want to check it out. The dashboard allows all escrowed transactions and their statuses to be easily viewed. Additionally, your intervention is only required when there's a dispute. For a normal transaction, the buyer releases funds himself and no action is required on your part, saving time and transaction costs.
Video guide: https://www.youtube.com/channel/UCLN7fp80Uh8Iwy0tI2jTU0A
ANN thread: https://bitcointalk.org/index.php?topic=2221107.0
How it works
The buyer initiates an escrow transaction, specifying a seller and escrow agent. The smart contract locks the buyer's funds. Once the buyer receives the item, he can release funds to the seller.
In case of dispute, escrow agent can step in to refund the buyer, or release funds to seller. Seller can also refund the buyer at any time. When the transaction is complete, the seller or buyer (if refunded) can withdraw their funds. Escrow agent can withdraw their escrow fees.
The Dapp dashboard allows the buyer/seller/escrow to view and interact with their escrow transaction history. The Dapp's code is open source and runs from the blockchain. Here's the code: https://etherscan.io/address/0x1c02ce498dc6d0d6ef05a253e021258b07eeba91
Some screenshots
Why it's secure
The smart contract locks the buyer's funds. The Escrow agent never touches the funds, he only has the ability to refund the buyer, or release funds to seller. Even in the rare scenario the escrow agent is compromised, the hacker can only refund/release funds, but cannot steal funds.
Try it out
If you offer escrow services too, you might want to check it out. The dashboard allows all escrowed transactions and their statuses to be easily viewed. Additionally, your intervention is only required when there's a dispute. For a normal transaction, the buyer releases funds himself and no action is required on your part, saving time and transaction costs.
Video guide: https://www.youtube.com/channel/UCLN7fp80Uh8Iwy0tI2jTU0A