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Problem statement :

Fraud is a big problem on the internet, you can’t really trust anyone. That makes it hard to sell or buy on sites like ebay or craigslist

Describe your solution to the problem

Both parties make a deposit they can lose if the the other party is not happy. This is supposed to keep scammers away.

Relevant experience

Detailed plan (not required) – Fill in here any additional details

Fraud is a big problem on the internet, you can’t really trust anyone. That makes it hard to sell, buy or doing business on sites like ebay, craigslist or even websites that are completely fake.

So is there a way to make sure that an anonymous person fulfills their part of the deal without a third party?

My idea is that both parties make a deposit equal to the value of the deal. If you want to buy something for $50, both make a deposit of equal value.

If the deal succeeds and both are happy, they will get the deposit back. If the buyer doesn’t get the goods, he can erase the deposit of the seller and the seller won’t get it back. The seller can also erase the deposit of the buyer. Both can erase it without a reason.

Erasing the deposit is not supposed to be a common occurance, it’s supposed to deter scammers, because their deposit can be erased and they won’t make a profit. A scammer would avoid this option and the buyer can be pretty sure that the seller is serious and is not trying to rip him off.

I think that works especially good with smaller things with a value below $100, because the higher the value, the higher the deposit.

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Enable trust between anon. people

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