There is something I dont understand with safex,
Since it’s totally decentralize and anonymous if I send 10 000 safecoins for something I want to bought from that guy how can I be sure the guy will deliver? and if he does not what happen?
I think that this problem can only be solved if the system holds the payment and only release it with the confirmation of the buyer,
I know some companies who stay in the middle of a buying operation on the internet.
If the buyer don’t complain after a given interval of days then it gives the money to the seller.
If the buyer complains then the company will analyse the case talking and requesting information and profs of both parts on the operation.
It would be usefull if the DBOT could be the escrow and we had a system like bitrated on SAFEx
Well I dont think “only release it with the confirmation of the buyer” would work because in this case the buyer can scam the seller by saying he hasn’t received anything
and if there’s a middle man, in this case there is a third party involved… and there’s no relevance of safex
Am i right ?
In one case where the products are digital no problem, this is ultra relevant.
In the case of physical goods, we will use a reputation system for sellers, and introduce escrow templates.
You can choose an escrow for anything; since the end goal for safex is a complete language you can design your own system on the fly. And we will explore that further for sure. F
Right now it is all about the primitives, and user introduction; in the next stages we will deal with real world integration with safecoin etc.
So far buying media and cryptocurrencies instantly without 3rd parties is already a breakthrough.
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How is it different from physical goods ? For exemple if I want to buy Safecoins with bitcoins, I send my bitcoin can he just keep my btc without sending me Safecoins ?
I’m not a tech guy so if you can explain it to me in a very simple manner as you would explain to your grand ma that you’d be great
In the case of Bitcoin/Safecoin there is an implentation in mind where you would send $1 worth of safecoin the other party would send you $1 worth of bitcoin, until the trade is finished.
That is a basis for Bitcoin/Safecoin;
Particularly in the case of SAFEX defined cryptocurrencies, we make a temporary escrow and verify the transaction before swapping owners of each cryptocurrency.
For example:
When we have a chickencoin and want to trade for safecoin;
we will escrow the chickencoin in an offer, when someone spends safecoin to this offer, the clients will then be capable of retrieving the coins; otherwise they will be in a reject mode where the respective owners before the trade will retrieve their coins and no one loses if for instance you sent too few safecoin somehow.
Physical goods are different since we will need a way to confirm the goods arrived. The token swap is an easy part it is the actual delivery to confirm that is more difficult to make 100% fool proof. So things like ‘arbiters’ some projects like that method.
More on this in a near future as primitives get published, and you’ll be able to test the system as well for yourself.
A public roadmap is in order I know, so to give a better color of when things will fall into place. Yet things are on the way already, and making a roadmap is definitely a whole day we wont have at the editors… nonetheless hope to at least put it out within the next week or so; getting these primitives settled first.
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