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So the contract is written in plain text an not even mentions who gets paid what and when. Is this system a joke? Not a single judge could decide based on this
by realPubkey 8y ago
So the contract is written in plain text an not even mentions who gets paid what and when.
Is this system a joke? Not a single judge could decide based on this.
- r32a_ 8y agoThis is an example contract proposal. Contractors must login to place a bid on this contract with their public key. Real contracts on the application have very thorough proposals. This is just a proof of concept.
- grenoire 8y agoWait, is the implication that you are holding the contract's budgeted funds on an account that belongs to you as a 'verification?'
- Klathmon 8y agoI'm not affiliated, and I've only taken a cursory glance at it, but it seems like a normal multi-sig escrow service. It's not an account that "belongs to them", but an account that belongs to multiple people (using multi-sig contracts) so that any single party can't decide to spend it. The idea being that if you didn't fulfil the contract, you can't take the money and run. If I didn't fulfil the contract, I can't prevent you from taking the money, and if this service goes down, the 2 of us can still decide who gets the money on our own terms without them. Basically this idea locks away money in an account "owned" by 3 people, and in order to send the money somewhere else, 2 of the 3 need to agree on where it's going.
- Klathmon 8y agoThat's like blaming a paper mill because someone wrote something stupid on a piece of paper. This is a service that lets you write whatever you want as your "contract". Saying the system is a joke because some people write bad contracts is stupid.