All we need is a decentralized Global Escrow Pool, and exchanges no longer needed

in #escrow6 years ago (edited)

All we need is a totally decentralized Global Escrow Pool, and exchanges no longer needed because any coin out there is already a market in itself since it's a peer-to-peer network WITH VALUE.
One element is missing - a decentralized escrow option accessible from any web browser.
As a user I know what I want - I want a Global Escrow Pool - a smart contract running on a secure blockchain like DGB (although any other crypto worth its salt might compete ) - which would match-make among Digi-IDed users as per their DECLARATIONS of the values they offer or seek. No transactions just yet - only declarations.
I simply go on a Escrow portal, and escrow to buy or escrow to sell anything, using any wallet of any coin, any blockchain. And it is only after all the parties consent on the conditions of the smart contract it acts as an authorized intermediary.
So, instead of trusting my private keys to some third parties I would rather trust the Global Escrow Pool smart contract which is secured by Digi-ID - or any other type of decentralized authentication method - and thousands and thousands of nodes of the coin I trust - and all that is simply one QR-code away!
No more humiliating KYC and emails - why the hell shall provide my personal info when I simply want to swap something with someone??
You can escrow anything (swap cryptocoins, sell your old car, rent a bungalow for a week, etc,) by scanning a QR-code using any wallet - simple as that.
The trading fees go to the nodes of the blockchain that runs the Escrow (you help the system to be secure - you get a piece of pie). Imagine all the fees that all the exchanges charge people now go to the people running nodes of the coin the Escrow is built on - here's your incentive.
Now, i don't even have to have a bunch of DGB in my DGB wallet - i can escrow any coin for any other coin. The DGB is this case is the hydrophilic system of the escrow and does not get in the user's way. I don't have to purchase intermediary coins. I don't need any "stable coin". You want to swap ETH to BTC - just QR-code it. You do not transfer your value to another value (like stupid exchange tokens nobody needs) in order to swap it then for a third value you desire.
Now, you think your coin can do better? - Run your Escrow and let's see who provides better Speed, Security and Safety (SSS) - that's what I call fair competition. That's what they call free market.
The trick is that things start cooking way before the values swapped. All the home work is done in the escrow layer before the actual swap happens, so your coins are intact until you consent to swap.
The swap can be immediate and fully automatic (change some ETH to BTC) or I might want to press consent button in my Escrow app only after I arrive to your bungalow in thee days time and checked it if it's the one you had advertised - as we had consented in the Escrow.
They enlist or delist our coins at will? - Try to delist something from a Global Escrow Pool now, when anybody with a phone becomes a market participant.
Now that we have Didi-Id, and thousands and thousands of nodes of different blockchain projects what prevents a developer team of at least one of them to create a simple but smart contract like that?

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