Tristan on Nostr: Escrow: the most boring yet important hidden pillar of finance that you use everyday ...
Escrow: the most boring yet important hidden pillar of finance that you use everyday - And it’s going to change Bitcoin forever.
Why is it important?
Why does #Bitcoin need it?
A thread 🧵
—
What is escrow?
It’s a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a transaction.
It’s absolutely vital for trust and security in every financial transaction.
—
Why is escrow important in finance?
It’s used everywhere – from buying a house, to online shopping.
It ensures that money changes hands only when all terms of an agreement are met.
—
Credit cards and marketplaces like eBay and Amazon use escrow mechanisms to protect buyers and sellers.
It’s a layer of security that’s become a standard in online transactions. Filed a dispute? Get a refund? That’s escrow in action.
—
However, traditional escrow hasn’t seen much innovation since the 90s. It’s often slow, expensive, and centralized.
This is where BitEscrow steps in.
—
Bitcoin’s irreversible transactions pose a risk - it may be a feature, but that’s all about to change.
Imagine a reversible Bitcoin transaction with escrow… This will be a game-changer - adding a layer of security to #bitcoin transactions.
—
Decentralization is key with BitEscrow. Anyone can become an agent, breaking the monopoly of traditional escrow services.
This democratizes the process and enhances trust.
—
BitEscrow is building an API for developers - to build anything on top of it.
Want to make a #bitcoin airbnb? A game aaset marketplace? A credit card?
That’s all now possible, making it easier than ever.
—
We’re also building an app for grandma to use. Super fast, super sexy, and stupid easy.
Make a contract, file disputes, and settle contracts faster than any escrow service in the world.
No paperwork needed, no banks involved. No fiat bullshit.
—
Want to learn more?
Join our discord to stay updated!
https://discord.gg/mx5sHFA97k
Why is it important?
Why does #Bitcoin need it?
A thread 🧵
—
What is escrow?
It’s a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a transaction.
It’s absolutely vital for trust and security in every financial transaction.
—
Why is escrow important in finance?
It’s used everywhere – from buying a house, to online shopping.
It ensures that money changes hands only when all terms of an agreement are met.
—
Credit cards and marketplaces like eBay and Amazon use escrow mechanisms to protect buyers and sellers.
It’s a layer of security that’s become a standard in online transactions. Filed a dispute? Get a refund? That’s escrow in action.
—
However, traditional escrow hasn’t seen much innovation since the 90s. It’s often slow, expensive, and centralized.
This is where BitEscrow steps in.
—
Bitcoin’s irreversible transactions pose a risk - it may be a feature, but that’s all about to change.
Imagine a reversible Bitcoin transaction with escrow… This will be a game-changer - adding a layer of security to #bitcoin transactions.
—
Decentralization is key with BitEscrow. Anyone can become an agent, breaking the monopoly of traditional escrow services.
This democratizes the process and enhances trust.
—
BitEscrow is building an API for developers - to build anything on top of it.
Want to make a #bitcoin airbnb? A game aaset marketplace? A credit card?
That’s all now possible, making it easier than ever.
—
We’re also building an app for grandma to use. Super fast, super sexy, and stupid easy.
Make a contract, file disputes, and settle contracts faster than any escrow service in the world.
No paperwork needed, no banks involved. No fiat bullshit.
—
Want to learn more?
Join our discord to stay updated!
https://discord.gg/mx5sHFA97k