Hire or Find a Job
Hire someone or find a job
Perhaps the most powerful feature of all is the ability to hire others knowing the work will get done. Hire an employee and both of you make a deposit. The employee is expected to perform, and the employer is expected to pay. In this case, the time limit enforces milestones for employee reviews and significantly increases productivity. This becomes an invaluable tool for outsourcing, with a guarantee that everything will be completed to secure payment. It also guarantees that employers will pay for work as it gets completed. A win-win situation for both counterparties.
For example, a contract is setup up where an employer agrees to pay an employee 100 dollars a day and both counterparties (employer and employee) deposit 200 dollars in escrow. If the employee does not show up for work or damages the workplace, the employer defaults. And if the employer does not pay then the employee defaults. The time limit is a good equalizer here. It can also be set for longer if desired or renewed daily. The employer would pay the employee in cash or coins outside of the contract. The contract serves as insurance for the job or payment for the milestone.