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March 26, 2014, 01:06:44 AM |
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This to make any kind of deal between random people easier. With a Multisig transaction you could get the equivalent of both sides holding half of a single banknote.
Money you both put in, will take both parties to get back out. In any deal, this creates the need for people to come back together and do whatever it takes to make it end well. It is a mutual bond.
In real life ripping up a dollar bill can work, but it is a bit cumbersome having to tape a torn up note back together. A simple Multisig app could make this real easy with bitcoin.
Let's both put up a bond when we agree to do a construction job tomorrow that needs the both of us to complete. Lend your bike to the guy in a hurry, just make him put up enough to make it credible that he will come back. And do it in such a way that you won't be able to run off with his money either.
It should be a simple app with just two buttons, no more complicated than DEPOSIT and RELEASE on both sides.
What do you think?
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