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:
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 about the process:
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.
Oh my bad in the Canary, i missed typed the year, things like that happen yet i will be updating it right away.
In the disputes part, i will work handle them professional, where there is direct messaging between the seller and the buyer, explaining their issues and will do our best to resolve or to find a suitable solution for both.
Direct communication is the secret on resolving disputes, and there's always a prove on who did wrong, you just have to find it.
For an example, if the seller sends a fake product, you can ask the buyer to show prove of it, and you can investigate it in one way or the other.
There is also tracking numbers if the seller did claim he hasn't received his product, and if he claimed it to be fake, we will ask him for his prove.
I will be creating a list in which sellers and buyers handle responsibility for their products or services, such as if the seller did send a broken item to buyer, he will be taking the responsibility of that, and we will find to whom we refund or release the payment.
Basically, disputes can be resolved with the right communication.