Bitcoin Forum

Rimbit Buyer Protection

Currently, there is Escrow which is the ONLY form of protection available to Cryptocurrencies, but then the Escrow agent is another avenue of trust that must be addressed!

The aim of Cryptocurrency is free trade, but with it comes the bad side of free trade, which is the bad actors who chose to ruin free trade

Rimbit's aim is to let free trade continue, but with the backing of Rimbit itself, to ensure Merchants can instill confidence in their Buyers, by offering Rimbit Buyer Protection.

How this works for the Seller/Merchant:

    Merchants needs to supply traceable details to a division of Rimbit, that is only responsible for vetting merchants
    The merchant is then allowed to offer Buyer Protection to their customers
    A maximum value limit of protection is issued to the Merchant
    Merchants are listed as verified on a searchable database
    Merchants must always provide recorded data on the transaction, that is verifiable online, such as shipping receipts etc.


How this works for the Buyer:

    The Buyer can file for a "non delivery of item"
    The Buyer is requested to contact the Seller and after 24 hours, we will contact the Seller
    The Buyer must show documentation issued by the Seller stating the goods purchased, such as invoice, which MUST INCLUDE the wallet address of the Seller, so we can verify the transfer has taken place.
    Once the documentation has been reviewed, Rimbit accesses the issue and if proven that the Seller has not completed the transaction, within the alloted timeframe and or has not responded to the Buyer or Rimbit, then we take action.
    The Buyer is sent Rimbit from us
    The Seller has their Buyer Protection cancelled on the spot.
    We do offer the right of appeal, for reinstatement of the Buyers Policy


This allows both Buyer and Seller to be in full control of the Buys and Sells, without interference of a 3rd party, such as PayPal does by freezing accounts, regardless of the circumstances.

Rimbit does not need to maintain any special software, except a database that can be viewed by anyone.

Branding on subsequent Wallets, both PC and Mobile device will make everyone aware that there are merchants who they can trade with in some high degree of confidence.

This project will make Rimbit the only Cryptocurrency that can offer Buyer Protection, which should be newsworthy and attractive to both Buyers and Sellers alike.

Even the mighty giant Bitcoin cannot offer this service, because its business model simply does not allow for it.

Currently we are Beta Testing the system with 2 merchants who we have been working with over the past few weeks, to iron out some bugs and find out exactly what we need to include in our new website that is being constructed.

More Information - http://rimbit.com/threads/rimbit-buyer-protection-program.6229/

Hi sir, do you want a portuguese translation?

Pm me if you need this.

Cya

Rimbit activities have been posted at almost every corner of this forum but their op does not always respond to comments, i will know what to say when this op update the thread.