Monero contract system
Monero Contract System
Monero Contract System is a open source web application written in Rust that allows for you to host your own escrow service. (with no javascript involved) People can create contracts like, "You will build me a website like X and Y in 1 month" or the what i think will be the most common "You will sell me 10 xmr for 2k usd" The person selling the XMR will deposit it into the multisig escrow, share the link to confirm the funds are locked, and if the other party (in the USD example) deposits the USD, the funds can be released. If things go smoothly, the Buyer and Seller can release the funds together. If not, the website administrator can step in for arbitration.
Right now, the only form of monetization is charging a fee for arbitration. If desired, I can add a feature to always take a 5% fee from each transaction.
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You can see it roling in a video here: Monero Contract System MVP demo
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Or you can run it yourself in here: Github of the MVP
Different from the MVP, this release will use Monero multisig for escrow
This proposal is to make the first release and allow people to run a business on top of this.
Me, Nicolas, will be doing all the dev work by myself in the span of 4 months.
I have divided this into 4 parts: Improve security, Usability, and deployability. Getting a payout for each part that is done.