RE: A Radically Updated Steem Whitepaper
What happened to escrow transactions?
Steem escrow transactions would facilitate:
- crypto-fiat exchange similar to that of localbitcoins.com
- trade of real world goods and services similar to that of OpenBazaar
- lending with Steem as collateral that could be powered up and delegated back to the borrower
SBD would provide a lot of convenience for pricing.
The exchange, trade and lending would all happen using only fiat and the Steem blockchain and thus bypass Bitcoin as a gateway cryptocurrency.
This should increase the number of active Steem users, which in turn should increase the value and price of Steem.
I may be wrong but if the Steem blockchain supports escrow transactions, why not add the feature to User Interfaces such as Steemit.com and see what happens.