Difference between revisions of "FreeEscrow"

What about a free automated escrow service?

This is probably the dream of nearly all users in the Internet, who want to buy or sell something on the Web.

Is it feasible and profitable for the providers of such a service?

The author thinks yes, seeing the following scenarios.

Domain transfers

Step 1: (negotiating)

Potential buyers and sellers negotiate a price (preferably in an OpenBusiness setting, using their authenticated RealNames).

Step 2: (initiating the free escrow-service)

As soon as the first offer above the minimal sell price is accepted (possibly by using an auction), the buyer or seller initiates the FreeEscrow service.

Step 3: (transfer to escrow)

The escrow-service asks

• the seller to initiate the domain-transfer to the escrow-pool and
• the buyer to initiate a funds-transfer to the escrow-pool.

Step 4: (transfer to buyer and seller)

After funds- and domain-transfer to the escrow-service is completed, buyer and seller get their intangible goods delivered.

Note: The procedure can even be simplified, when the escrow-service uses an API to a financial service like e.g. PayPal and an API to the WHOIS database. So the escrow-service is free, only the costs of the involved financial services remain. To make the service useful to the prognosed 200 million kids of the OLPC, we must find the cost-minimal financial service for funds-transfers.

Media content

WorkInProgress

Software

WorkInProgress

The idea came, when searching boldly for "free escrow" free escrow. BugReport

The author found SpartaPay and within this site a simple applet (visible only in Internet Explorer and not in Firefox) to demonstrate the concept.

Click "See Demo" at the top on SpartaPay.co.uk

How to make it free?

One possible solution of such an automated system could be to offer basic services of some intangible goods as free and tangible goods for a price.

The service could build a YouTube.Com-like user-base and trust and by its free service-component and producing profit by the escrow service for tangible goods and of course by advertisments.

What about SpartaPay?

As SpartaPay appearantly has such an automated system, developed at the Manchester University, interested parties could join forces to realize this idea as a base for more embracing ideas:

SolSeedMovementNews

--fridemar 14:43, 24 February 2008 (PST)

Domain FreeEscrow.org points to this page

inviting community-oriented partners to realize the idea as an OpenBusiness by putting your ideas or offerings here to not only buy the domain, but also the energy, creativity and initial publicity in the community to start y/our common project.Optionally make your offer via NameSecure.com. The initial setting of the DNS-server to become active will take until 96 hours. from now on: --fridemar 18:11, 25 February 2008 (PST)

Note: DNS-server is active sooner than awaited --fridemar 08:35, 26 February 2008 (PST)

BiLinks

SolSeedMovementNews, SpartaPay,

User_talk:David_Braden#FreeEscrow