Escrow?

[Gulp2788]

So I am wondering if there could be a business for trusted Escrow middlemen. I believe that scams could be reduced if there were effective and trusted escrow positions. Obviously I believe I could perform this function however I have no reputation as it stands right now so I wouldn't expect anybody to use me. But don't we have some very well known members in the forum who might be good to use as escrow actors?

I offer this to the forum in the hopes of discussion, perhaps we could unlock a class of actors in this forum who perform the role of Escrow managers?

 

[Deleted member 44062]

Sir, this is a Wendy's.

Money is the root of all evil.

 

[timyboy]

Great idea for being here 1 day!!!

 

[Kerby87]

I agree maybe an admin can designate someone and charge a fee to use it

 

[CnC5]

There is a company that does this but they are on the dark net!

 

[Deleted member 44062]

Darknet is where it should stay. Seriously. Magazine subscriptions and research journals have no use for escrow services. It's nothing but a liability.

 

[timyboy]

This exists already and is in the DN! And that's also how you lose your $$$

 

[CnC5]

This exists already and is in the DN! And that's also how you lose your $$$

Im not talking about the markets im talking about a separate website that offers escrow between individuals.

 

[CnC5]

Darknet is where it should stay. Seriously. Magazine subscriptions and research journals have no use for escrow services. It's nothing but a liability.

Scamming vendors is also a liability, websites like fair trade are great to work with theres nothing wrong with escrow at all!

 

[Gulp2788]

You see CnC5 I agree with you this seems to me like it could be a business for someone within the forum community. A sort of decentralized escrow based on what though? How do we determine reputation?

 

[Gulp2788]

If the escrow manager knew nothing about the reason for the payment proceedings and only was there to be an impartial judge to arbitrate the contracts, you could have a safe, from an opsec perspective, transaction in which honest parties are rewarded and appropriately compensated, and dishonest parties most likely would be punished.

The biggest four issues I see are:

1. Escrow managers could be corrupted
2. Exit scams from escrow managers
3. Escrow managers can be fooled
4. Untested/untrusted escrow services are rife for scams and abuse
I can think of a few ways to mitigate some of these issues, but I don't think I can eliminate them all

Would love to know what you guys think.... If I can I would love to offer myself as candidate for a small proof of concept if the powers that be bless me.

 

[Kerby87]

If the escrow manager knew nothing about the reason for the payment proceedings and only was there to be an impartial judge to arbitrate the contracts, you could have a safe, from an opsec perspective, transaction in which honest parties are rewarded and appropriately compensated, and dishonest parties most likely would be punished.

The biggest four issues I see are:

1. Escrow managers could be corrupted
2. Exit scams from escrow managers
3. Escrow managers can be fooled
4. Untested/untrusted escrow services are rife for scams and abuse
I can think of a few ways to mitigate some of these issues, but I don't think I can eliminate them all

Would love to know what you guys think.... If I can I would love to offer myself as candidate for a small proof of concept if the powers that be bless me.

Let the admin pick the person tho I wouldn’t send my money to someone that voted themselves into the position and joined yesterday just being real

 

[Gulp2788]

Nah I get it I just figure I may as well establish that of course I have interest in doing this, it being the reason I made this thread. That being said I agree with you Kerby, leave it to trusted members to choose trusted people I think.

 

[Kerby87]

Nah I get it I just figure I may as well establish that of course I have interest in doing this, it being the reason I made this thread. That being said I agree with you Kerby, leave it to trusted members to choose trusted people I think.

Yeah seems like the best option to let admin pick… but great idea

 

[Gulp2788]

Ideas are one thing but action is another, is there any interest in this at all? Because I think the community could use a centralized escrow management system.

 

[Deleted member 44062]

DNM's frequently have a questionable reputation for dealing in illegal items and services. Modeling the community after one risks drawing lots of unwarranted attention from regulatory agencies. Why go to the trouble for books and magazines?

And if, say, the IRS or some other agency manages to breach or confiscate the server, they get to come knocking at everyone's door for unpaid sales taxes etc.