> Danny, > > What you are trying to do is build an escrow service... you have not > invented anything new. Study some existing escrow services, then design your > system... > > Sidd.
I disagree. Somewhere along the line the idea has been twisted back into the simple escrow system but I got the feeling initially the service would most certainly be able to become a repudiable payment. This is what I thought could occur: Merchants have 2 options. first to accept only non repudiable payments or 2, the repudiable option as well. The fees would be higher for repudiable, the sender has the ability to repudiate the payment at a timeframe suited to the merchant under possibly restrctions set by merchant payment system (disclaimer on sale that they cannot simply cancel for any reason - and if not then maybe the people can decide who is right or wrong - READ BELOW) . INTERNAL JUDGING SYSTEM: The system could set up a number of neutral judges/jury which could easily sort out repudiable payment conflicts. Lets say, for the clients safety, a $2.50 fee is charged on all repudiated payment problems (the fee is taken from the amount of the payment) - the service could look for interested judges who wish to receive a % of that fee for deciding for or against a repudiation. 3 judges could independantly vote for the dispute (reading each users case) and the vote would be final. May seem hard to work, but it could really involve members - and the incentive of maybe 50c-$1.00 for being a judge could create a good income for many full time people! The system could even start judging the judges - and they can get prizes every month foe the most consistant judge (the one who agrees with one other the most). Verification of client could also play a big part, and would come at a cost of the repudiable payment user - but benefits will be there for that cost. for example: The goldnow.st verification system (think they charge $5.00 for that) which would mean better chance of non repudiation of funds PLUS Graham could charge a very good rate instead of the high 15% range for Credit Car deposits to the repudiable payment as well. They can verify client, and have faith in the client - thus allow the user the benefit of paying the $5 fee for continual better credit card deposit rates. I think it is similar to escrow in that the funds will be held or not be able to be spent, BUT, the major difference is the merchants and users can start to create a market whereby trust is built up and merchants can arrange for shorter timer=frames for revesal and a load of options that could make it a safer spend. Dannys example of this is digital software - the perfect product for repudiable payments. It allows the merchant to sell more than before - but even if 50% of these were reversed payment (highly unlikely with a scenario above where members become the judge and jury)then they were better off with the repudiable option. The sky is the limit with ideas and concepts on how to make this work. To simply shut the door on it and say it is an escrow servie is small minded. Its all in the marketing, and I can see some huge potential with a system like this. > -- _______________________________________________ Sign-up for your own FREE Personalized E-mail at Mail.com http://www.mail.com/?sr=signup --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
