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Escrow Service as a Smart Contract: The Business Logic
Background
An area of Smart Contract development that has consistently intrigued me is its real world usage to disintermediate the middleman. There’s one gem of a Smart Contract that achieves this in the Solidity documentation called Safe Remote Purchase. This is the first blog post of a 2-parter where I will document how to execute Safe Remote Purchase using a combination of Remix and MetaMask.
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This series will be particularly useful for folks who:
- Want to know what a Smart Contract is.
- Want to code Smart Contact but do not wish to go through the hassle of running Geth nor syncing to the Blockchain.
In this blog post, I will describe how Safe Remote Purchase works and discuss the mechanism that makes it impossible to cheat.
The Business of Escrow Services
My other hobby is flipping watches. I often buy my watches on the Internet, wear them for a few months, get bored and attempt to sell them to buy another one. It becomes a challenge to do this if I don’t get to deal face-to-face because I do not trust the buyer and the buyer does not trust me. The buyer may take my watch and not…
