Dash-On-Delivery Idea For Internet Transactions:
DOD - Dash on Delivery:
A) a VERY brief overview of a solution for buyer security.
B) Currently, once coins are sent, they are pretty much gone, unless the recipient (seller) voluntarily returns the money.
C) Proposed solution:
01 - define two types of send functions: "final send" (FS) and "conditional send" (CS).
02 - FS = no change from current method of sending.
- CS = send to be conditioned upon the buyer (sender) being happy with his/her purchase; and
confirmed by a "confirmation key" (CK). The CK must be scanned / entered into the blockchain
prior to a certain block (time/suspense) in order for the funds to be fully
confirmed by the miners and/or masternodes.
D) Example: Parties: seller/recipient (Sam), buyer/sender (Bob, also Bob1, Bob2,..Bobn) and Carrier.
01) Sam lists a single product for sale.
02) Bob buys the product, (assuming only one bidder/buyer) and pays by conditional send (CS), with
suspense of X-days; results:
- a) product arrives via Carrier; Bob sees product and is happy to accept, he enters the confirmation
key (CK) prior to the X-day suspense, with Carrier acting as the person receiving the CK, which
serves as the signature equivalent. Carrier drops off product, and the confirmation key (CK)
allows the blockchain to confirm the original Conditional Send (CS) and Sam receives his coins.
- b) product doesn't arrive; product arrives late, defective or Bob doesn't sign off with confirmation key
(CK) before X-day suspense, then the original Conditional Send (CS) is NOT validated and NOT
sent; also Carrier does NOT deliver, and returns the product to Sam the seller.
03) Obviously, if more than 1-buyer is interested, then Sam will simply sell to the highest bidder; and this
becomes an automatic auction.
E) Details to consider: Carrier will need to have an app/wallet function to access the blockchain and enter key on behalf of Buyer. probably, many others ... that's just the nature of ideas & solutions. We can think these out. What do you guys think? Sweet? Simple? Possible? Hard? Easy? User friendly? Already done? I don't know the technicals, but I think this would really facilitate a more secure buyer experience.
DOD - Dash on Delivery:
A) a VERY brief overview of a solution for buyer security.
B) Currently, once coins are sent, they are pretty much gone, unless the recipient (seller) voluntarily returns the money.
C) Proposed solution:
01 - define two types of send functions: "final send" (FS) and "conditional send" (CS).
02 - FS = no change from current method of sending.
- CS = send to be conditioned upon the buyer (sender) being happy with his/her purchase; and
confirmed by a "confirmation key" (CK). The CK must be scanned / entered into the blockchain
prior to a certain block (time/suspense) in order for the funds to be fully
confirmed by the miners and/or masternodes.
D) Example: Parties: seller/recipient (Sam), buyer/sender (Bob, also Bob1, Bob2,..Bobn) and Carrier.
01) Sam lists a single product for sale.
02) Bob buys the product, (assuming only one bidder/buyer) and pays by conditional send (CS), with
suspense of X-days; results:
- a) product arrives via Carrier; Bob sees product and is happy to accept, he enters the confirmation
key (CK) prior to the X-day suspense, with Carrier acting as the person receiving the CK, which
serves as the signature equivalent. Carrier drops off product, and the confirmation key (CK)
allows the blockchain to confirm the original Conditional Send (CS) and Sam receives his coins.
- b) product doesn't arrive; product arrives late, defective or Bob doesn't sign off with confirmation key
(CK) before X-day suspense, then the original Conditional Send (CS) is NOT validated and NOT
sent; also Carrier does NOT deliver, and returns the product to Sam the seller.
03) Obviously, if more than 1-buyer is interested, then Sam will simply sell to the highest bidder; and this
becomes an automatic auction.
E) Details to consider: Carrier will need to have an app/wallet function to access the blockchain and enter key on behalf of Buyer. probably, many others ... that's just the nature of ideas & solutions. We can think these out. What do you guys think? Sweet? Simple? Possible? Hard? Easy? User friendly? Already done? I don't know the technicals, but I think this would really facilitate a more secure buyer experience.