Jeff Swann @Jeff Swann - 1y
2 party escrow doesn't allow chargebacks or reversals. It locks the money until both parties come to an agreement. The buyer initializes a payment, which locks the money in a provable fashion, & the money cannot be called back or claimed by the seller until both parties come to some sort of agreement.
This was the norm on the Silk Road & early darknet markets.
Sure, and there is no reason that you can't continue to require full payment upfront, but there are inevitably going to be spam problems with new sellers making listings just to collect payments & disappear without shipping or producing anything. We need a way to create some sort of hedged risk transactions to keep both sides honest. Sellers need proof the money is on its way, & buyers need a way to prevent sellers from running off with the money and sending them nothing.
