A lot of us need lend/borrow BTC and we want to get confirmations when we paid loan back or lent money to somebody..
I have deposited 20 btc, please confirm hashking.
Eveofwar is going to borrow 50 btc and repay 55 btc on 4/5/12. Please agree to these terms Eveofwar. Ok your repayment address is 1L1kNRv7c5KAL6NZZW56E6VFt5mhLiWcjM. Funds are sent.
Let's analyze situation: Person A made a loan of 30 BTC to person B and person B paid back 35 BTC some time later...
1. Person B wanted loan
2. Person B wanted to pay back 35 BTC
3. Person B paid back 35 BTC
4. Person A agreed on conditions to be paid back 35 BTC
5. Person A gave money to person B
If we can link all of these actions to Bitcoin network interactions we can have nice stats... for example how much in debt person is right now, how much he repaid..
Now let's do same transaction again, but using new technique:
Step 1: Person A agrees to lend 30 BTC to person B and be repaid 35 BTC. He opens brand new address ( address A) and gives it to person B.
Step 2: Person B sends 35 BTC / 10^8 = 0.00000035 BTC to address A from address B.
Step 3: Person A sends 30 BTC to address A and then sends them to address B.
Step 4: Person B sends 35 BTC to address A.
If something goes wrong we can always see:
a) If lender actually lent any money
b) If borrower paid it back
c) If he paid in full
What do you think?