ArbStore: Empowering Online Freedom and Independent Justice in Cyberspace

Trust is an asset in our globalized and digital society. There are millions of strangers out there, willing to legitimately offer interesting products and services, but other millions are willing to deceive and scam as many people as they can. We can’t tell them apart easily, so we need trustable “referees” to be in the middle. They could be companies like banks or escrow platforms run by law professionals.

In this process, the process of trusting middlemen only, we lose privacy, freedom, flexibility, speed, and money. We have to pay a lot for that trust, after all. But this could be remedied with a decentralized escrow platform like the ArbStore, which embraces the cypherpunk and crypto-anarchist movements in favor of an independent and free cyberspace. And yes, it can save you a lot of money online as well.

What is Decentralized Escrow exactly?

Traditional (and centralized) escrow is a financial arrangement where a trusted third party temporarily holds funds or assets on behalf of two parties engaged in a transaction. The funds are released to the seller once the buyer confirms receipt or fulfillment of the agreed-upon goods or services, ensuring a secure and fair exchange.

So, what's a “decentralized” escrow? We can define it as a cryptocurrency-based system that eliminates the need for a central authority or intermediary to hold and release funds in online transactions. Smart contracts automatically execute the release of funds when predefined conditions are met, ensuring trust and security in peer-to-peer (P2P) negotiations. The code is the trusted party here and no one else, ensuring privacy and the absence of high fees.

Unlike centralized platforms, decentralized escrow systems like ArbStore eliminate the need for expensive middlemen; your funds would be safe in a smart contract, they can be used from anywhere in the world, and there are almost no requirements or red tape in the middle for the parties.

Decentralized Escrow for an Independent Cyberspace

These platforms hold significant potential in shaping and fortifying an independent cyberspace. To achieve this, two crucial components are required: independent money, already manifested through cryptocurrencies and an independent economy. The latter hinges on secure transactions, a need fulfilled by platforms like ArbStore.

Through their implementation, these systems foster autonomy, privacy, and security within digital transactions, consequently contributing to the establishment of a resilient and self-sustaining online ecosystem. In other words, people can safely engage in any kind of transaction no matter where they are, no matter if they trust each other or not.

This foundational autonomy enables users to exercise greater control over their digital interactions, thereby laying the groundwork for an independent cyberspace where participants operate on their own terms. Even entire network states could be built with this kind of decentralized economy.

Moreover, the inherent nature of decentralized escrow systems lends itself to resistance against censorship and external interference. By eliminating centralized intermediaries, these systems mitigate the risk of third-party censorship or manipulation, preserving the freedom of expression and economic activity within cyberspace. This resistance to censorship not only upholds fundamental rights but also strengthens the integrity of independent cyberspace as a bastion of free exchange and interaction.

Cypherpunks, Crypto-anarchism, and the ArbStore

ArbStore epitomizes the ethos of cypherpunk and crypto-anarchism, offering a decentralized platform for secure and transparent transactions. By leveraging smart contracts on the Obyte network, ArbStore empowers individuals to engage in trustless interactions, reclaiming their autonomy in the digital wilderness.

Crypto-anarchism, characterized by skepticism of political authority and a preference for consent-based governance, aligns closely with the principles of this system, as a "way of seeing" and "way of being," crypto-anarchism advocates for the use of cryptographic tools and decentralized technologies to achieve privacy, autonomy, and individual sovereignty in the digital realm.

For its part, the cypherpunk ideology aligns very well with crypto-anarchism principles. Both movements seek to challenge centralized authority, empower individuals in their digital interactions, and create decentralized systems that prioritize privacy, security, and freedom from government surveillance and control within cyberspace. ArbStore is, of course, one of these privacy and freedom systems.

When engaging in a contract with arbitration via the Obyte wallet, users can enjoy full privacy to discuss their own terms and select an arbiter from the ArbStore. No one, except for them, will ever know about the terms, products, or services exchanged if the operation is successful, namely, if the seller sent the goods or complied with the services to the buyer within a reasonable period.

In case of disputes, the ArbStore offers something “smarter” than the code: a human himself, a professional arbiter who can be called by any of the contract parties to analyze their evidence and solve their differences. Meanwhile, the funds would remain locked in the smart contract until the arbiter takes a decision based on evidence provided by the parties.

Then again, no one else, not even the ArbStore moderators, will ever know about the contract contents.  This promotes autonomy, privacy, and security in any kind of digital transaction. Or a truly cypherpunk system.

How to use the ArbStore for private transactions?

To leverage the ArbStore for private transactions, individuals or businesses can initiate contracts through the Obyte wallet, a user-friendly app available for desktop and mobile. This process begins with downloading the wallet, which serves as the platform for storing both funds (in cryptocurrency) and contracts.

Once the app is installed, users proceed to pair the wallet with their counterparts and add them as contacts in the integrated and encrypted chat. This pairing ensures that both parties have access to the same contract and facilitates communication throughout the transaction process. Then, they agree on the terms and potential arbiter of the contract, create it through the same wallet (without coding), and send it to the other party, who must accept it from their own wallet.

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After the agreed-upon conditions are met and both parties are satisfied with the outcome, the buyer releases the funds from the smart contract to the seller. In the event of a dispute, either party can invoke the arbiter to resolve the issue. The arbiter reviews the evidence presented by both parties and makes a decision based on the merits of the case. They would release the funds either to the plaintiff or the defendant.

Throughout this process, privacy is maintained at every step. Contract details are exchanged securely using Obyte's end-to-end encrypted messaging, ensuring that only the involved parties have access to the contract's contents. Additionally, funds are held in decentralized custody, with neither the ArbStore nor the arbiter having control over them. This ensures that transactions remain private, secure, and free from external interference.

Following a Freedom Path

Considering all the above, we can say that ArbStore stands at the forefront of the fight for online freedom and justice in the digital age. By embracing cypherpunk ideals and crypto-anarchist principles, ArbStore empowers individuals to transcend traditional power structures and forge a path toward a more equitable and autonomous digital future.

Despite the fees associated with arbitration and potential fiat-to-crypto conversions, the use of the ArbStore offers a cost-effective and reliable solution for facilitating private transactions in the digital realm, empowering individuals and businesses to transact securely and autonomously.

ArbStore is now offering a glimpse into a future where governance is decentralized, consent-based, and reflective of individual values. As we navigate the complexities of the digital landscape, let us embrace the ideals of online freedom and justice embodied by platforms like this one, and usher in an era of true sovereignty and autonomy in cyberspace.

Featured Vector Image by storyset / Freepik