how blockchain multi-sig escrow works in grabjob

How Blockchain Multi-signature Escrow Works in GrabJob

Client Freelancer

Each person has one key. Money will be sent to a freelancer when 2 of 3 keys are signed.

Let’s see how it works in the course of transaction.

Client Freelancer

Order

The client order a service of the freelancer.

Client Freelancer

BlockchainDeposit

Freelancer waits until the client send a deposit.

Client Freelancer

Blockchain

Service

Sign

Freelancer confirm the deposit, start working, deliver the service and then sign with his key.

Client Freelancer

Blockchain

Sign

The client check the quality of a service. If she is satisfied, she signs with her key.

Client Freelancer

Blockchain

Deposit sent to the freelancer as 2 of 3 keys are signed.

As you can see, GrabJob basically doesn’t have to get involved in the process of transaction. We come in only when there is a dispute.

Let’s take a look at that case.

Client Freelancer

Blockchain

Service

Sign

Freelancer confirm the deposit, start working, deliver the service and then sign with his key, but…

Client Freelancer

Blockchain

the client doesn’t respond to the delivery. She doesn’t answer the message. He believes his work was

good. There is no way he can handle this problem.

Client Freelancer

Blockchain

Sign

GrabJob comes in to help freelancer get paid for his work. GrabJob sign with their key.

Client Freelancer

Blockchain

Deposit sent to the freelancer as 2 of 3 keys are signed.

In essence, Blockchain Multi-sig Escrow is a flexible system that doesn’t require a third party unless there is a dispute.