We all know that the biggest risk when trading goods for capital is the other person cannot always be trusted. So how does one go about creating an escrow automatically in code?
I was thinking that a guy advertises said product. Buyer A accepts the price and proceeds with that purchase. The advertiser would then give an escrow address to the bidder and dispatch the item. Then, once the bidder has relieved said item the funds are released to the seller. Very similar to eBay and PayPal.
I'm struggling to understand how the site would setup an escrow automatically.
I was thinking that a guy advertises said product. Buyer A accepts the price and proceeds with that purchase. The advertiser would then give an escrow address to the bidder and dispatch the item. Then, once the bidder has relieved said item the funds are released to the seller. Very similar to eBay and PayPal.
I'm struggling to understand how the site would setup an escrow automatically.