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Paypal will never cooperate this, because the service is selling money laundering. Without Paypal's cooperation, you can't guarantee that a transaction present
by patio11 9y ago
Paypal will never cooperate this, because the service is selling money laundering. Without Paypal's cooperation, you can't guarantee that a transaction presently honored by Paypal will not be reversed in the future, for reasons including "the buyer, who legitimately controlled the Paypal account at time of transaction, decided to defraud the seller" and "the buyer, who has credentials for X,000 Paypal accounts obtained by hacking, does not have the authority to commit either the Paypal account or Paypal to a transaction."
- dharma1 9y agoIf the traffic to PayPal confirming the transaction wasn't from a centralised server, PayPal would have no way of differentiating between an ETH sale or any other transaction, so their cooperation might not be needed. Reversal - might be better solutions but couldn't the smart contract escrow simply have a timer built in that would allow the fiat receiver to move the money out of his PayPal account, thus preventing reversal? I'm just running with a half-baked idea, but it feels like it could work. Doesn't need to be PayPal, could be any fiat transaction provider that has an API that allows confirmation of the fiat transfer that the smart contract can access
- Sleeep 9y agoYou can't prevent reversal by withdrawing from a PayPal account. PayPal cooperation is needed because they shut down accounts that appear to be breaking their rules.