Arbstore, Singapore (2026)

03/10/2023

ArbStore: The matter of trust for international SMB trade is solved.

ArbStore is a mature escrow infrastructure that helps SMB businesses move to the next level. With its advanced and robust platform, it ensures secure and trustworthy exchanges between buyers and merchants in different jurisdictions when trust is minimal. Whether you're purchasing a domain name from another side of the planet or a one-of-a-kind artwork from a gallery, ArbStore has got your back. This cutting-edge technology safeguards your funds until both parties are satisfied with the transaction, acting as a mediator to resolve any disputes that may arise. You can bid farewell to gambling when dealing with a new partner and sleep well knowing that your hard-earned money is safe with ArbStore.

What’s in it for the buyer?

Let's assume that you are the owner of the hotel. Not very big, but not small either. There are companies who supply you with “consumables”, such as food for the restaurant, dishwashing detergents, floor, etc., as well as the sheets washing - daily. But there are also things that are periodically replaced, but not every day, for example, mattresses for beds, televisions, flooring, etc. With daily suppliers, everything is clear: you will quickly figure out who is reliable and who is not. They will provide you with the line of credit and the trust is ensured since both of you are “local” and visible. What about the mattresses, which you need to replace every six-seven years? In your country, they cost $750 apiece, and in China it’s $150. Where would be your choice? Of course, your pick will be China. But you don't know anyone there, and it's risky to give hard earned money to someone you have not dealt with?

In this case ArbStore has something valuable to offer: the ArbStore infrastructure will provide escrow capability with arbiters in case of a dispute. The system is decentralized, so both the buyer and the seller can trust each other. Two parties unfamiliar with each other from different jurisdictions enclose their money into escrow by means of a smart contract, and in case of a dispute selected by both parties an arbiter will be there to resolve it immediately. As long as the money is in escrow, merchants can proceed to contract fulfillment without any fear. The buyer will release the funds upon delivery of goods or services as stated in the contract.

Therefore, all mattresses, television sets and all carpets can be safely bought from any part of the world, as soon as the price is right. It doesn't matter in which jurisdictions the buyer and seller are located, their risks are covered . The main thing is that Obyte’s platform, which is used by ArbStore, guarantees the safety of escrow and funds transfer.

What’s in it for the merchant?

The same as for buyers, only on the other side of the deal: if the product is competitive and the transaction promises to be profitable, the seller waits for the buyer to confirm delivery of product as specified in the contract. After that, the buyer releases the funds and both splits up satisfied. It does not matter whether they will meet tomorrow “at the same place, at the same hour” or in a few years, when the time will come again to replace mattresses (televisions, linoleum, etc.). The main point is that two businessmen who are complete strangers can engage ArbStore and connect at any time to conduct a deal. They don’t have to concern themselves with potentially being duped. With ArbStore, all parties can rest assured that they are safe and in their comfort zone.

What are the key constituents to Arbstore’s solution?

(a) Smart Contracts

These contracts automatically perform actions when certain conditions are met, eliminating the need for intermediaries and reducing the likelihood of human error or, even worse, human greed. They are still half automated: both sides conclude a very real contract, which is subsequently "invested" in a smart cover. Smart-contracts are protected from unauthorized access, they are transparent and they can facilitate a wide range of functions, in our case it’s escrow. In addition, smart contracts provide transparency, immutability and enforcement, allowing parties to have full control over their agreements. In ArbStore, smart contracts serve as the basis for secure, automated transactions. They facilitate reaching an agreement between the parties, automatically perform actions based on predetermined conditions, and keep an immutable record of all actions. Through the use of smart contracts, ArbStore ensures each transaction is reliable and efficient.

Smart Contracts are based on DAG

Smart contracts hold enormous promise for international trade. With their built-in security features and autonomous ex*****on, smart contracts provide a high level of safety and reliability, making them an ideal tool for global trade. Arbstore’s smart contracts operate on the DAG (Directed Acyclic Graph) platform, a decentralized and tamper-proof ledger that ensures transparency and immutability.

This eliminates the need for intermediaries and reduces the risk of fraud or manipulation in cross-border transactions. For instance, the existing banking mechanisms such as Letter of Credit or Guarantee from a bank can be revoked by the bank or buyer for many “centralized” reasons in the process of contract ex*****on. Now the need for these documents is eliminated: they have been replaced with smart contracts.

As the world becomes increasingly interconnected, smart contracts offer a promising solution to overcome the challenges associated with cross-border trade.

(b) Arbitration

This is a dispute resolution mechanism used in ArbStore for effective and impartial conflict resolution. It involves the transfer of the dispute to an arbitrator who acts as a verified neutral third party, and the advantages of confidentiality, flexibility with the ability for both sides to choose “judges” in a possible dispute who have experience in the relevant industry. ArbStore strives to ensure fairness and impartiality in its arbitration processes. By selecting arbitrators with experience in the relevant field and implementing transparent procedures, ArbStore contributes to the creation of a neutral and fair environment for resolving possible conflicts. This ensures that both sides have an equal chance to present their point of view and get a fair result.

Decentralized escrow protected by independent arbiter

And yet, an important addition: arbitration in the real world sometimes costs even more than the disputed transaction itself. Neutral countries where businessmen find “solvers'' for themselves, such as, for example, Switzerland, will not “get their hands dirty” for some percentage of the transaction: their services are quite expensive: You can pay more for arbitration than you hoped to earn on a deal that got out of control. And this is only if the dispute is resolved in your favor. You don't even want to think what could happen should you lose. ArbStore is extremely democratic in this respect. The price of the dispute in it is so moderate that your nerves will not respond to it. And it's not a fact that you will have to turn to an arbitrator: smart contracts and escrow by themselves guarantee the quality and security of the transaction, and the arbitrator is, so to speak, the cherry on the cake. ArbStore's decentralized arbitration process ensures impartiality and avoids lengthy and expensive litigation related to traditional dispute resolution methods.

Conclusion

ArbStore gives individuals and businesses the opportunity to participate in transparent and smooth trade beyond their local jurisdiction, reducing risks and ensuring fairness. As DAG (Direct Acyclic Graph) technology continues to evolve, ArbStore remains at the forefront, setting new standards for secure and efficient transactions. With the introduction of ArbStore, small and medium businesses can confidently navigate for smart deals, knowing that their funds are protected by decentralized infrastructure, and if a dispute occurs, it can be resolved within a reasonable timeframe and won’t cost an arm and a leg. The future of transactions and dispute resolution undoubtedly belongs to ArbStore.

P.S. and just for fun... if you have time take a look at buyers’ issue of trust which we help to resolve: https://fb.watch/kQb2BPphhZ/ (it has 5M views)

01/10/2023

Decentralized finance needs alternatives to blockchain

Critics often overlook the inconvenient fact that “decentralized” blockchains in fact depend on centralized points of failure that have the potential to corrupt entire ecosystems.

One of the laziest and most frustrating criticisms of digital currencies — particularly Bitcoin — is when pundits liken it to a pyramid scheme dependent on the “greater fool” joining to make a quick buck. While some people do indeed purchase digital assets purely for speculative purposes, it’s unfair to ignore many of the great services and achievements that are being made by developers in areas such as remittances, logistics, financial inclusion and intellectual property.

A fairer criticism of blockchains is that, for all proponents say about decentralization, blockchains are still dependent on miners or other powerful players that control their networks. Whether it be factories filled with servers for proof-of-work (PoW), pools of PoW miners, large pools of tokens for proof-of-stake (PoS), or the fact that at times, more than 50% of transactions that run on the Ethereum network run through the Infura API, there’s no ignoring these massive centralized points of failure.

Granted, the design of popular PoW and PoS blockchains has been incentivized to ensure bad actors are punished, yet it remains to be seen how they will operate when the value of digital assets operating on certain blockchains exceeds the value of the underlying ledger’s native coin.

Imagine, for instance, if a popular stablecoin grew so large that its total value exceeded that of the native coin of the underlying blockchain it operated on. Essentially, it would create an inverse pyramid whereby the holders of the native token could control the transactions of the said stablecoin. Given the concentration of many crypto assets among “whales” who have a vested interest in their blockchain’s native token (and price), this could become a very real problem.

In Ethereum, as a PoS ledger, miners’ stakes are in Ether become larger than Ether in market value, they could theoretically pull off a double-spend in those respective digital currencies, lose their Ether stake, and still profit more from the double-spend. Although it still remains hypothetical, it’s by no means unimaginable.

This then poses a question regarding how we should rethink distributed ledger technology (DLT) architecture and the role mining or staking assets should play.

Tether now boasts a market capitalization of over $80 billion, Circle just under $30 billion, while the Ethereum blockchain it’s programmed on has a market capitalization of Ether over $220 billion — not that far, given how quickly things can change in crypto.

This problem might seem theoretical and far off from being a potential issue; however, the rapid growth of cryptocurrencies as an asset class over the last decade should make people pause to consider what could happen if stablecoins enter the mainstream. Although DLT remains a very young industry, the last 14 years have given us their fair share of unexpected surprises, unintended consequences and shocks that, in hindsight, seemed obvious.

Developers might consider whether now is the time to rethink the architecture underpinning digital assets. Dependency on centralized miners or servers, mistakes made by coders writing smart contracts, and the potential for double-spend when projects exceed the value of their underlying blockchains mean decentralized finance needs to look at alternatives to blockchain. Post-blockchain distributed ledgers, such as directed acyclic graphs (DAG), which allow access to anyone and don’t rely on block producers, could provide an insight into how this industry evolves over the next decade.

Whatever form the new architecture takes is a prize waiting to be claimed. Only then will the industry finally live up to its promise and stop being associated with pyramid schemes.

19/09/2023

Great opportunity for legal professionals and anybody with an area of technical experts to join and contribute to WEB 3.0

It requires zero technical knowledge or expertise since the platform is designed to be used by individuals without any computing knowledge other than basic IT skills.

ArbStore (https://arbstore.org/) provides a technological infrastructure based on smart contracts and decentralized escrow that helps parties in trade trust the integrity of their peer-to-peer transactions using cryptocurrency. In the event of a disagreement, ArbStore provides a structured dispute resolution mechanism overseen by impartial, independent arbiters chosen by the parties. “Arbiter” may sound like an absolute authority and could be attributed to centralization, however in ArbStore’s ecosystem, this isn’t the case.

Anyone with expertise, a professional reputation, and experience in a particular field of the economy can register as an arbiter with ArbStore today and earn fees.

In the process of signing a smart contract, arbiters are selected by both contracting parties out of a pool of arbiters previously registered with ArbStore. Arbiters will participate in the process only if the parties have a dispute concerning their terms or contract ex*****on. Prior to that, when a contract is signed and it’s in the process of ex*****on, arbiters don’t see a thing.

A few requirements

In order to be selected to resolve a dispute and enter a contract with the parties, arbiters would need to demonstrate transparency and disclose the relevant information which is supported by some public source (LinkedIn, press info, publicly registered entity info, etc.). The arbiter could be a private person, a lawyer, or a legal entity with adequate records of its achievements in the business or public space.
Sample of an arbiter's profile in the ArbStore

The escrow side of the contract is based on a smart contract in which the parties can write their own terms and lock the funds, in cryptocurrency, until conditions are met. Should a dispute arise, they can resort to the expert, an independent arbiter selected by the parties prior to signing the smart contract. For the contracting parties, the process could be comparable to any dispute resolution system from centralized online marketplaces such as eBay or Amazon —only easier and faster.

In centralized companies like Escrow.com, the team has the authority to determine the allocation of funds or goods in the event of a dispute. They have total control of their platform and the funds on them. In ArbStore, that role lies with an independent dedicated expert arbiter selected by both parties at the time of signing the contract, prior to the dispute arising.

How does a contract with arbitration work?

The term “smart contract” could imply programming knowledge, but not this time. Anyone can prepare a contract with arbitration by only following a simple path. In the first place, both parties need to have Obyte’s native wallet .

Next, one of the parties offers a contract with arbitration to the other. As an example of Alice and Bob:

Alice and Bob discuss their contract and terms externally or in the built-in encrypted chat in the wallet. For a contract with arbitration, they need to select, for a small fee that allows them to use the platform, an expert or a reliable arbiter from ArbStore.
One of the parties (Alice or Bob) offers a contract with arbitration through the chat, by clicking on the other party’s address. If the other party accepts it, the involved funds (in USDC, GBYTEs, GBB, or any other token) will be locked in a smart contract until the terms of the contract are met.
If the buyer is happy with the goods/services provided by the supplier, the buyer releases the funds from the smart contract in favor of the supplier. In this case, the arbiter is not involved.
If one of the parties fails to fulfill their obligations, the other party can open a dispute and call an arbiter to resolve the issue. The arbiter ultimately decides who gets the funds. Arbiters can also be reported to the ArbStore moderators if they misbehave.
Importantly, the arbiter’s decision doesn’t need to be recognized and enforced by an off-line (traditional) court of justice. The dispute is resolved online in the platform, fast, reliably, confidentially and at low cost.

The arbiter doesn’t need programming knowledge either. Just enough knowledge in the field of their expertise (contracts, web3, IT, real estate, collectibles, domains, export/import, etc.), some time to review and resolve the case, and a personal Obyte wallet.

What is the process like for an arbiter?

If the claim is sent by one of the parties (buyer or seller), the arbiter receives a message in their wallet and email address from the ArbStore Bot. That message includes links to check the written contract (not in a programming language, it’s a legal contract like any other).

When the arbiter is invoked, the plaintiff is asked to deposit with ArbStore the agreed arbiter’s fee. Then, the arbiter would start talking to both parties and gathering evidence to make their last decision.

The parties can contact the ArbStore moderators if they have grounds to believe that the arbiter is not one who can resolve the dispute.

Finally, who receives the funds is just a matter of choosing between two buttons: Plaintiff or Respondent. All of this is always done inside the wallet chat, without any other external middlemen. As a last resort, the plaintiff can report the arbiter to the ArbStore moderators if the arbiter has not acted in line with the ArbStore’s Code of Conduct for arbiters.

How to become an arbiter?

In case of a dispute on the terms of the agreement, a professional lawyer is the best option for an arbiter, but any other professionals are highly valuable to contracting parties, especially in cases when the parties are disputing technical rather than legal matters. There are no applications, only registrations. Nevertheless, the ArbStore moderators have the right to unlist the arbiters that don't add value to the store or misrepresent themselves. And it’s important to note that becoming an arbiter has two small starting fees.

The first one comes for a real-name attestation process, also available through the wallet. Users of contracts with arbitration are looking for reliable experts, so, arbiters must show they can be trusted. That’s why revealing the arbiter's verified real name to the ArbStore (and its users) is strongly recommended.

Even if arbiters don’t reveal their real name and stay anonymous to the ArbStore and its users, real name attestation is still required to prevent multiple arbiter listings by the same real person. Of course, a verified real name doesn’t guarantee the arbiter’s integrity and expertise but, for many users, that would be a minimum necessary (but not sufficient) requirement.

A chatbot will guide registrants through the attestation process. It can be done with the services of Veriff (available worldwide) and its fee of $8 per attempt. If arbiters are attesting themselves for the first time, Obyte will refund them $8 when the process is complete.

Other than this, just follow the instructions of the ArbStore chatbot in the wallet to sign up. It’ll be necessary for arbiters to share a detailed bio on the platform, including professional background, dispute resolution process, preferred topics, approximate fees, spoken languages, and how they are protecting their wallet.

How much can an arbiter earn?

That depends entirely on the arbiter fees, how often the arbiter is selected in contracts, and the value of the transaction. For example, an arbiter Carol can set 5% as her dispute resolution fee for Contract X, which involves $100,000 in USDC. That would be $5,000 for Carol (the arbiter). She decided to set that percentage because it was a complex corporate contract, and the parties accepted it because they trusted Carol’s ability to resolve the dispute. However, she can take “simpler” contracts as well, with a lower fee.

For example, let’s say she agreed to solve Contract Y, a one-page contract that only involves $1,000 between individual parties. This time, Carol may decide to propose a 2% fee, and her gains would be $20 after resolution. However, it’s likely that most arbiters end up setting a pricing that sounds like “2%, min $50, max $1,000” to be adequately paid for their time.

One last important point: the arbiter won’t get paid until they solve the dispute. The fee paid by the claimant is held by the ArbStore until the ultimate decision is made.

Arbiters must protect their wallets and make proper backups. If they lose access to their wallets, the disputed funds of others could be locked there forever. As Uncle Ben said: "With great power comes great responsibility."

Why would I choose to become an Arbiter?

By registering with ArbStore, arbiters have an opportunity to be actors in the highly promising web3 space, extend the borders of their activity, strengthen their profile, while gaining visibility and exposure to a new community of crypto-believers. All of this, of course, in addition to the potential earnings.

Now, if you’re looking to step up,elevate or pivot your professional career, contribute to the development of online international trade, gain valuable experience, and earn some crypto in the process, the ArbStore is waiting for you. Sign up as an arbiter today!
https://arbstore.org/

15/06/2023

Obyte Launches Contracts with Arbitration: P2P Transactions with Decentralized Escrow

In its ongoing mission to enhance peer-to-peer (P2P) and decentralized transactions, Obyte is excited to announce the introduction of smart contracts with arbitration. These contracts offer secure decentralized escrow protection for two-party agreements, eliminating the need for mutual trust. They can work for individuals as well as businesses, but they’re particularly well-suited for international trade —a market valued at a staggering $32 trillion.

Traditional contracts have been the foundation of business transactions for thousands of years. However, the parties involved typically require a level of trust before engaging in any business relationship. This trust requirement poses risks for at least one party involved, buyer or seller. By using contracts with arbitration, that risk is eliminated from the beginning, thanks to decentralized escrow and inclusion of a mutually trusted arbiter.

How do contracts with arbitration work?

In this kind of contract, it’s assumed that one side is the payer (buyer), while the other is offering a product or service (seller) in return for payment. Let’s say Alice is selling some goods to Bob, who’s on the other side of the world.

1. Alice and Bob need to download and back up the Obyte wallet. Alice sends a pairing invitation to Bob (Chat tab – Add a new device) and he needs to accept it from his own wallet.

2. Alice and Bob can discuss the contract details in the chat, as well as the selection of an arbiter from the Obyte ArbStore. Then, Alice writes the contract text.

3. Bob shares his Obyte address with Alice via encrypted chat in the same wallet. Alice clicks it, and selects the option “Offer contract with arbitration.”

4. She fills in all the spaces, including the amount, the selected arbiter address, title, the text of the contract, and personal contact methods. Then, she clicks “Offer Contract”, and Bob needs to accept it and pay to the contract from his wallet.

5. From this point, the funds involved (in USDC, GBYTEs, GBB, or any other token) are locked in decentralized escrow until the contract’s conditions are met. The escrow is provided by a smart contract that allows only a few specific ways of releasing funds from the escrow. The most common way is that Bob releases the funds to Alice after successfully receiving the goods. Another possibility is that Alice refunds the money to Bob if she is unable to ship the merchandise.

If Alice or Bob break the terms of the contract, either of them can open a dispute. That’s where the arbiter gets involved.

Arbiters and Arbstore (Hiring!)

In case of a dispute, the arbiter will be the one to decide who keeps the money. An arbiter is a trusted and verified (human) third party registered in the ArbStore. They’re experts in their area (legal, IT, business, real estate, etc.) that are paid for dispute resolution services.

The ArbStore lists the currently active arbiters with information about their professional backgrounds, pricing, and data about their activity, such as the number of contracts that chose them as arbiters and the number of disputes resolved. The services of arbiters are paid, and they have to be paid only in case a dispute arises. Most contracts are expected to end without a dispute, and their parties won’t have to pay anything to arbiters.

Beyond those experts, if one of the parties finds the arbiter decision unfair for any reason, they can report it to the ArbStore moderators. They won’t be able to make a complete refund, but if they find that the decision wasn’t right, the arbiter will rank lower on the ArbStore and can even be delisted.

By using smart contracts with arbitration, it’s possible to even build any kind of marketplace (exchanges, jobs, used stuff, NFTs, etc.) that automatically protects both parties by locking the funds involved. It’s possible to trade any amount, any product, from anywhere to anywhere, at any time. Trust and reputation are issues no more.

Obyte is now welcoming more arbiters in the ArbStore. The best ones would be experts with experience in the relevant or adjacent fields. To apply, contact Enrique Aznar at [email protected]

05/06/2023

🌍 Expand Your Business Horizons with Arbstore! 🌍
Ready to take your business to the next level? Arbstore's decentralized escrow platform allows you to engage in cross-border trade with confidence. Our innovative technology eliminates barriers, making global transactions secure and frictionless. Join the growing community of businesses expanding their horizons with Arbstore. Visit our website to get started.

04/06/2023

🔐 Secure Your Transactions with Arbstore's Decentralized Escrow!
At Arbstore, we understand the importance of secure transactions for businesses and individuals alike. Our decentralized escrow platform provides a safe environment for conducting transactions, protecting both buyers and sellers from fraud. Say goodbye to the risks and uncertainties of traditional transactions and embrace the power of decentralized escrow with Arbstore. Visit our website to learn more.

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