If this is made into an SDK, you could be inserted into the checkout flow of so many small/medium businesses. You can become the better business bureau of the bitcoin world. Basically the Venmo feature they added where you can pay a fee to have Venmo act as an escrow.
The 10x concept for this is very solid. Excited to see where it goes guys. @supertestnet đź‘Ťđź‘Ť
I absolutely agree! It has a rest api which is already fully functional btw >:D Any third party who wants to build on top of this can call the api commands and programmatically execute trades and/or refunds on behalf of their users, and we'll just take a 1% cut each time. (Well, right now we aren't taking any cut at all, but eventually we will.) I haven't documented the api but it's what the frontend uses so anyone can check the html to see how it works. For example, the code for creating a new escrow transaction looks like this:
function makeTx() { var buyer_email = document.getElementsByName( "buyer-email" )[ 0 ].value; var goods_or_services = document.getElementsByName( "goods-or-services" )[ 0 ].value; var transaction_title = document.getElementsByName( "transaction-title" )[ 0 ].value; var transaction_details = document.getElementsByName( "transaction-details" )[ 0 ].value; var fee_payer = document.getElementsByName( "fee_payer" )[ 0 ].value; var amount = document.getElementsByName( "amount" )[ 0 ].value; var params = "buyer_email=" + buyer_email + "&session_id=" + localStorage.session_id + "&goods_or_services=" + goods_or_services + "&title=" + transaction_title + "&description=" + transaction_details + "&fee_payer=" + fee_payer + "&amount=" + amount; var xhttp = new XMLHttpRequest(); xhttp.onreadystatechange = function() { if ( this.readyState == 4 && this.status == 200 ) { var json = JSON.parse( this.responseText ); if ( json.status == "success" ) { window.location.href = "/seller-payment.html?tx=" + json.id; } } } xhttp.open( "POST", "/settx/", true ); xhttp.setRequestHeader( "Content-type", "application/x-www-form-urlencoded" ); xhttp.send( params ); }
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and we'll just take a 1% cut each time
Don’t you have to kinda be officially partnered with businesses though? Because you seemingly need some information about the kind of transactions so you know how to fairly arbitrate them.
Like if you’re an escrow for particular products, you need to understand what is and is not expected. Or what the customer did or did not agree to.
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Don’t you have to kinda be officially partnered with businesses though?
No, it's an open api so other companies can integrate it without telling us.
you seemingly need some information about the kind of transactions so you know how to fairly arbitrate them. Like if you’re an escrow for particular products, you need to understand what is and is not expected. Or what the customer did or did not agree to.
Companies or individuals who integrate our api get nice easy api endpoints to settle or cancel payments themselves. They can create accounts on behalf of their users, display the qr codes, and do all the interactive bits for them, hitting the right endpoint when it's time to decide who gets the money. And yeah we just take a 1% cut every time (once we're out of beta) without needing to know what exactly is happening or what the contract is for.
I still need to document the api though and probably do a hello world tutorial and an explanation of some of the things developers can build on top of this.
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Ah! So any company that uses your contract also becomes the arbitrators.
I would imagine that you will want to also offer an arbitrage-as-service. To me, that is the 10x opportunity. especially since consumers want a third party that won’t be biased
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