Airbnb Payments Vs Trips Payments
Channel: TripsCommunity
Date: 18/04/2020

An innate characteristic of cryptocurrencies is the irreversibility of the transactions. Once a payment has been made, there are no institutions or third parties, as banks or credit card companies, to which to apply for a refund. With traditional credit cards there is the concept of Chargeback, in which the payer can claim a refund, even months later, for not having received the expected goods or service.
Those who send cryptocurrencies, even if they do it by mistake or do not receive the goods for which they have paid, have irretrievably lost money (except in the case in which the receiver refunds them voluntarily).
It works exactly like cash.
The system to be used for non-finalized transactions is the Escrow managed by a Smart Contract.
The Escrow becomes a successful payment on the occurrence of certain conditions such as lack of disputes within the deadline.



read more: https://tripscommunity.com/en/white-paper/