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from FridemarsOpenDomainPortfolio

What about a free automated escrow service?

This is probably the dream of nearly all users in the Internet, who want to buy or sell something on the Web.

Is it feasible and profitable for the providers of such a service?

The author thinks yes, seeing the following scenarios.

Domain transfers

Step 1: (negotiating)

Potential buyers and sellers negotiate a price (preferably in an OpenBusiness setting, using their authenticated RealNames).

Step 2: (initiating the free escrow-service)

As soon as the first offer above the minimal sell price is accepted (possibly by using an auction), the buyer or seller initiates the FreeEscrow service.

Step 3: (transfer to escrow)

The escrow-service asks

the seller to initiate the domain-transfer to the escrow-pool and
the buyer to initiate a funds-transfer to the escrow-pool.

Step 4: (transfer to buyer and seller)

After funds- and domain-transfer to the escrow-service is completed, buyer and seller get their intangible goods delivered.

Note: The procedure can even be simplified, when the escrow-service uses an API to a financial service like e.g. PayPal and an API to the WHOIS database. But even these domain transaction costs can be reduced or eliminated: see G WeNameInitiative.com.

So the escrow-service is free, only the costs of the involved financial services remain. To make the service useful to the prognosed 200 million kids of the OLPC, we must find the cost-minimal financial service for funds-transfers.

Media content

Similar to domains-transfer. The media needs to be stored only once at the free escrow-service with a usage-count.

Software

Similar to domains-transfer. The binary software needs to be stored only once at the free escrow-service with a usage-count. For source-software the whole version control system-based "software-tree" needs to be stored only once with a usage-count.

The author found SpartaPay and within this site a simple applet (visible only in Internet Explorer and not in Firefox) to demonstrate the concept.

Click "See Demo" at the top on SpartaPay.co.uk

This domain FreeEscrow.org is offered for sale

The idea came, when googling boldly for "free escrow" free+escrow]. Please click the Google Icon in the following G FreeEscrow to verify this contribution at Aboutus at the top of millions of Google-hits.

This screenshot shows the synergies that come from community marketing via Aboutus.org and MeatballWiki, based on a domain-name and an attractive article on the concept.

For info about registrar, availibility and expiration-date see FridemarsOpenDomainPortfolio.

Freeescrow+Aboutus now Nr.1

FreeEscrow one day later is now the Nr. 1 of over 8.5 Million Google hits. Another sideeffect is finding a potential provider of such a service and perhaps a buyer of this domain. fridemar 06:51, 12 February 2009 (PST)

This qualifies as a win-win-situation for Aboutus.org and at the same time for the prospective buyer of this domain (and of course for the seller ;-).

The owner of this domain is just preparing to sell this domain for any Web2.0 community-aware buyer, who knows to appreciate it.

Please feel free to enter the public negotiation on this page, which adds additional value for your domain and fosters at the same time community values as expressed in WikiWayOfLife.

How to make it free?

One possible solution of such an automated system could be to offer basic services of some intangible goods as free and tangible goods for a price.

The service could build a YouTube.Com-like user-base and trust and by its free service-component and producing profit by the escrow service for tangible goods and of course by advertisments.

What about SpartaPay?

As SpartaPay appearantly has such an automated system, developed at the Manchester University, interested parties could join forces to realize this idea as a base for more embracing ideas:

SolSeedMovementNews

--fridemar 14:43, 24 February 2008 (PST)

Domain G FreeEscrow.org points to this page

inviting community-oriented partners to realize the idea as an OpenBusiness by putting your ideas, contributions or offerings here to not only buy the domain, but also the energy, creativity and initial publicity in the community to start y/our common project.

fridemar 11:43, 11 February 2009 (PST) (author and owner)