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Idea for an escrow-type feature


Cantemir
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Hello Lucian & team,

While waiting for the Maiar launch I've got an idea for a feature that might help extend Maiar's use to transfers between two users where approval is required from a third party. I see two possible use cases:

- Escrow: a user wants to make an expensive purchase (ex. a car) but requires some additional approval from an authority, for example age confirmation

- Parental approval: an underage user wants to buy something, but requires approval from one or both parents

I suspect this could be achieved by using a modified version of the current crowdfunding SC example + meta-transactions initiated by the SC to notify the users required to approve transfer. But the key point would be that it could be an automated workflow driven entirely from Maiar. Here's a basic sketch with the steps I'm thinking of.   

Leaving it up to you to decide if this could bring any value; just wanted to share it.

escrow smart contract idea.jpg

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I would love to see something like this built by the community or a dApp.

Moreover, we will take into consideration this kind of use case and others, like scheduled payments, subscriptions, etc.

Thanks for sharing and lets see what the community can build once tools are in place.

 

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  • 5 weeks later...
On 1/29/2021 at 3:31 PM, Lucian Todea said:

I would love to see something like this built by the community or a dApp.

Moreover, we will take into consideration this kind of use case and others, like scheduled payments, subscriptions, etc.

Thanks for sharing and lets see what the community can build once tools are in place.

 

This would be a nice feature, scheduled payments would be great!

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