Comment by adrianwaj

The builder splits their work into milestones and the funds get released at the beginning of each milestone. Users are just group-buying someone to do some work. The builder is getting a reputation in the process. Think ebay.

When work received, the funders rank work according to overall quality, and quality against the expectations set. It's like ranking a purchase on ebay.. overall was this purchase good? How many stars? etc.

Who resolves the disputes? No one. The funds go into escrow for 2 weeks, if over 70% of funders reject the work, the funds are returned. Not sure if some funds can be retained, however. I suppose the "rejection retainer" can be customized. Also, the builder's code can go into escrow too so the builder keeps their code. The problem is crap code, what if the product is good but the code ends up bad? I suppose too bad.. the builder just suffers reputation wise.

Also, the builder's dev environment can be streamed as well, and an ongoing conversation can occur. There's a sharing and collaborative process. That will keep users aligned. Like with gaming or music creation. Potential funders can watch someone work and think.. is this someone I want to work with? So it's about making it personal, but with rules in place and removing the need for arbitration. That doesn't have to be a must, but can work for some situations.

The bare-bones product can be fairly black and white and gradually build features as problems/opportunities arise.

Perhaps builders can choose or at least know about their funders' rejection rates in advance and actually select their funders if a project is over-demanded (under-priced?) Sort of like Hipcamp hosts' response rate and wait-time - would you message someone who never responds? The key is reputation on both sides - like ebay. Hipcamp hosts also can reject bookings for their listings if it's not an Instant Book so bookings are discretionary.

Also, maybe funder and builder wallet totals can be revealed. Would it help to know if one of your funders or builders is a billionaire? What do you think? I suppose it could be optional. It'd be more for status, because you can easily fake a low wallet balance, but can't fake a high one, or not easily.

"Oh, I know absolutely nothing about this funder, except that he/she is friggin' loaded... oh wait, maybe I can charge more.. or less! This coin is going to be pumped 'til kingdom come!" So there's a name for it - "KingdomCome" or just Kingdom...KingDome?!