Arbitcoin.org serves as a responsible and trusted escrow, arbitration, and mediator of Bitcoin transaction between two or more un-trusting parties. Without a 3rd party mediator, such as Arbitcoin.org, these un-trusting parties would not be able to safely and securely transact with one another.
One of the simplest, yet most powerful, smart contracts for arbitrating a Bitcoin transaction is using a 2-of-3 multi-signature (multisig) transaction. In such contracts, 2 signatures are required to complete the transaction. Generally, sender and receiver both agree to complete the original agreement; however, in the event of a disagreement, Arbitcoin’s 3rd key-holding arbiter steps in to resolve the conflict. We carefully weigh the evidence provided by both parties before deciding on the most fair resolution to the trade.
We are currently developing a web-app and native iOS and Android apps that offer seamless 2-of-3 multisig contracts baked right in. Our goal is to roll out the most reliable and easy-to-use escrow experience and interface currently available anywhere on the Bitcoin network.
Our apps are currently being developed and tested and have yet to be publicly released. If you would like to receive updates on our progress, please contact firstname.lastname@example.org.