How Shake's Payment System Keeps You Safe, Literally
Shake uses an escrow which is like a safe that keeps the customer's money secure while a business delivers a product or service.
Under the hood, it's a smart contract: the release timer is written to the blockchain at the moment of payment and cannot be changed by anyone, including Shake. Funds have exactly two exits — to the merchant once the timer expires, or back to the buyer if a refund is issued. No other path exists in the code. The smart contract only executes the refund path — the decision of whether a refund is warranted is made by a human arbiter, not by the code itself.
The Escrow Process
After making a transaction, your money is placed into an escrow for a set amount of time, which is like a neutral safe, rather than going directly to the merchant.
During this waiting period, if you don't receive what you purchased, you can discuss it with the merchant directly or request a refund, which a human reviewer will evaluate.
If you don't request a refund during the waiting period, the merchant can withdraw the money.
Any escrow should have an agreement that the buyer and seller both sign before money is exchanged. AI in the app suggests an agreement, and pictures you take are included. Just sign with your finger.
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