How blockchain multi-sig escrow works in GrabJob
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Transcript of How blockchain multi-sig escrow works in GrabJob
![Page 1: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/1.jpg)
How Blockchain Multi-signature Escrow Works in GrabJob
![Page 2: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/2.jpg)
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.
![Page 3: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/3.jpg)
Client Freelancer
Order
The client order a service of the freelancer.
![Page 4: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/4.jpg)
Client Freelancer
BlockchainDeposit
Freelancer waits until the client send a deposit.
![Page 5: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/5.jpg)
Client Freelancer
Blockchain
Service
Sign
Freelancer confirm the deposit, start working, deliver the service and then sign with his key.
![Page 6: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/6.jpg)
Client Freelancer
Blockchain
Sign
The client check the quality of a service. If she is satisfied, she signs with her key.
![Page 7: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/7.jpg)
Client Freelancer
Blockchain
Deposit sent to the freelancer as 2 of 3 keys are signed.
![Page 8: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/8.jpg)
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.
![Page 9: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/9.jpg)
Client Freelancer
Blockchain
Service
Sign
Freelancer confirm the deposit, start working, deliver the service and then sign with his key, but…
![Page 10: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/10.jpg)
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.
![Page 11: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/11.jpg)
Client Freelancer
Blockchain
Sign
GrabJob comes in to help freelancer get paid for his work. GrabJob sign with their key.
![Page 12: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/12.jpg)
Client Freelancer
Blockchain
Deposit sent to the freelancer as 2 of 3 keys are signed.
![Page 13: How blockchain multi-sig escrow works in GrabJob](https://reader034.fdocuments.net/reader034/viewer/2022051520/587448d71a28ab0e6c8b9103/html5/thumbnails/13.jpg)
In essence, Blockchain Multi-sig Escrow is a flexible system that doesn’t require a third party unless there is a dispute.