Dark web market introduces digital contracts to protect users from fraud

IN an attempt to make the dark web more secure, a marketplace has introduced digital contracts to protect customers from fraud.

FILE - This Feb. 1, 2011 file photo shows medical marijuana clone plants at a medical marijuana dispensary in Oakland, Calif. On Saturday, May 2, 2015, The Los Angeles Times reported that the California legislature is considering multiple _ and conflicting _ plans to impose the first major statewide restrictions on medical marijuana dispensaries and growers. California was the first state in 1996 to legalize the sale of marijuana for medical use. More than 1,000 dispensaries operate in the state. (AP Photo/Jeff Chiu, File)

THE very nature of the dark web offers anonymity, but this can sometimes make its users susceptible to scammers.

In an attempt to make the dark web more secure, a marketplace has introduced digital contracts to protect customers from fraud.

Taking to a Reddit thread, AlphaBay said it will act as a third party signatory to verify all contracts on its system.

“Our system enables serious businessmen/businesswomen to conduct safely business without worrying if the other person will scam them,” alpha02 wrote.

“Any user can initiate a contract with any other user in the marketplace as long as the initiator has the fee [$5] to cover for the creation of the contract.”

As there are no templates for the contracts, users are able to include anything they deem necessary.

“It is not required to put in the exact full details — we understand your need for privacy, but basic outline should be present in case of dispute,” alpha02 wrote.

Despite the content of the contracts being open to interpretation, users must still fit with the rules of the website.

“Hitmen will never be allowed, as we don’t want this kind of attention,” alpha02 told Motherboard.

“We don’t allow services that are here only to hurt people.”

If one of the parties feels they have been cheated, they can launch a dispute at any given time after the start of the contract.

“Disputes are, as always, handled by our moderators & the procedure does not differ much from a normal escrow dispute,” alpha02 wrote.

If a user has been found to have breached the contract, they will have negative feedback recorded on their profile, making it harder for future sales.