[bisq-network/proposals] Distributed reputation system (#78)
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Sun May 5 00:00:51 UTC 2019
I believe PayPal has a Verified level which a user can only attain after verifying their bank account _and_ their identity. If it works as intended, it should make it vastly harder for a scammer to use a random stolen PayPal account since the identity of the PayPal user sending the tiny payment wouldn't match the identity of the bank account owner in Bisq.
There are edge cases, like name change policies...PayPal allows it upon providing proper documentation and claims it usually takes 3-5 days to process it. We'd need to make sure that window doesn't provide any opportunities for scammers to enter.
I'm researching PayPal's policies (as well as those of Venmo, Cash App, and some other popular payment methods) to better understand their processes and will make a separate proposal.
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