basically it is an automated escrow service, so the users can just start escrow on their own, without any hassle
Since your site is back online, I could check it out. The fact that
your Canary expired a year ago doesn't inspire confidence either:
Published by: xD500
Published on: 12-01-2021
Next Publish: 12-02-2021
But even if I would trust you, both the FAQ and the "Escrow process" descriptions don't inspire much confidence either
This is
all it shows:
5. Buyer releases the escrow transaction when he receives item(s)/service(s) or start a dispute if not received.
How are disputes handled? How do you prevent an experienced scammer from scamming an innocent newbie? How can you
ever be sure about a trade if you only see the financial side of it?
Common problems with (new) escrows are the lack of trust and unclear decision making in case of a dispute. I don't think I've ever seen any implementation that completely covers all possible scenarios.
I can think of a few scenarios that can emerge. To start:
This is a common practice. I have both bought and sold physical coins, and bitcoin miners using escrow. In all cases, everyone involved wanted the shipment to be sent directly to the buyer by the seller. As an escrow agent, I had facilitated the sale of physical goods, and all parties had always wanted the goods to be sent directly from the seller to the buyer.
How does that protect the buyer if the seller sends a fake? Or how that it protect the seller if the buyer claims he received a fake?
How can you prevent this? If both parties are honest, they don't need an escrow. The escrow is only needed when one of the parties isn't honest, which should be the assumption in all steps taken by escrow.