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Regular notaries could be as crooked as rogue employees, yet we still use them because imperfect barriers are still barriers (as with security). But yeah, when
by hunter2_ 6y ago
Regular notaries could be as crooked as rogue employees, yet we still use them because imperfect barriers are still barriers (as with security).
But yeah, when computer-related vulnerabilities are thrown into the mix, it could get ugly.
- meowface 6y agoSure, there's often going to be some centralized source one needs to trust. The issue with a digital escrow vendor is kind of like the issue with cryptocurrency exchanges - one single breach and you immediately walk out with an unfathomably huge treasure trove. A rogue notary employee can do some damage and notarize things in exchange for bribes, and a rogue bank employee could help siphon some money away, but a rogue digital escrow employee could be bribed to hand over terabytes of extremely sensitive data on lots of big customers, and a rogue cryptocurrency exchange employee could possibly help someone steal hundreds of millions of dollars pretty easily. It's a huge house of cards.