A simple escrow wallet

I propose a single point escrow wallet account, it can take your funds, at your request, and it owns your funds until some contract is complete or a timeout occurs.

The escrow promise is legally enforceable,  Participating users can submit a contract specification in the specified grammar, along with the cash remit.  The escrow wallet account publishes the contract terms on  its public blockchain, then transfers the money to escrow wallet account.  Any other user participating in the contract can then observe the rules of exchange, and give the signing signature to release some digital asset, possibly another coin. Thus the contract is completed, and revealed on the public chain, users have their goodies.

We can see it is hard to cheat the escrow wallet account, especially if users pay an insurance fee.  The wallet can cheat us, but after the wallet has a public list of hundreds of happy escrow users, folks will trust it.  But,more importantly, the escrow wallet runs a simple protocol langue interpreter, easily inspected, and check summed by the server  kernel.

This idea is barebones smart contract with no assumption about the type of ledger services or securities traded. It has no native ledger system of its own except the published record of past contract terms.  This is a simple, third party system, easily protected, autonomous and can get us across ledger services.

No coin needed, but the system needs an external hook so new digital asset definitions can be adapted to the contracts.  Fake digital assets is the hacker door, the one we watch. But the contract machine, itself, is easily protected. So, it will run forever and honestly for the most basic=, standard exchange protocols.

If the escrow wallet is standardized, (the protocol language gets accepted), then in the sandbox we give them a known address and spread them around. They are a utility, like URL look up router. They route contracts between ledger services.