We propose a new type of financial transaction that allows the creation of unbreakable self-enforcing purchase contracts between untrusted parties in an anonymous environment.
1. The buyer deposits the price into escrow. In addition, both parties make a security deposit into escrow. Until both parties have deposited all required funds, each party may recover their own funds at any time.
2. Once both parties have deposited all required funds, deposits are locked. The seller now delivers the bought goods or services to the buyer, or fails to do so.
3. If the buyer confirms delivery, security deposits are released and the price is paid out to the seller. If the seller admits to be unable to deliver, all deposits are returned. Deposits remain locked until either of these conditions is met.
http://escrow2p.com/
