I'm wondering if other freelancers - in any field - might consider the same thing?
If these are not paid in time, you are in a good position to pester your client before the job finishes, because you have the very real threat of walking out before the job is done, likely leaving them with essentially worthless WIP. The threat is so obvious you don't need to allude to it, just say that if you don't get paid soon, you will need to take other work to tide you over.
No need for escrow, which is tricky in the same way as PIA if there are milestones: what if the client agrees to the escrow contract, puts in the first installment, but then fails to put in later installments? Don't you still need to dangle the possibility that the job won't get done anyway?
If you do want escrow, there are a number of problems with smart contracts:
1. They are notoriously difficult to phrase in an exploit-free way
2. Your client may be suspicious of the technology
3. Cryptocurrency-based contracts are exposed to high volatility; there is an element of gambling
There are more traditional escrow services that are not too expensive, such as https://www.escrow.com - of course you are exposed to risks from the escrow service provider, but with a reputable company these should be small.
For a more detailed response see below:
I've been working freelance on and off for 15 years in the EU and 10 years before that in the US. Believe me, I have explored simple solutions. I don't leap into unnecessary complexity just because it's there.
I don't know any client who would pay in advance. Here it's common that I work until the end of the billing period - 1 month usually, then send an invoice. That is payable in 20 days (big companies usually have ridiculously long periods - 60-90 days) So I work for another month before getting paid for the first. That's the norm here. On a short job, 1-2 weeks I can invoice on delivery - but I still have 20 day payment terms.
Probably half the problems I get are client cash flow. Either I'm forced to wait or they exaggerated (lied) about it and never had the cash - hoping to make enough by the time I needed to be paid.
Escrow would prove that they have the money they promise.
Having milestones - say weekly size ones - reduces the risk for both sides. Client front money for a small deliverable and freelancer can work on it in confidence. At end, client accepts the work - thus freeing the payment. Client then funds the next deliverable. And so on. There can be variations - this is a basic example.
If the client doesn't accept a deliverable both sides are motivated to come to an agreement - he doesn't get it. I would build a clause into the contract that if there is no agreement the payment is frozen for x months, then split 50 / 50. This increases a motivation to agree.
And if any agreement isn't acceptable to the freelancer - she doesn't need to carry on - but her risk is much, much smaller.
To add to difficulty here - the legal system is pretty much pointless. It can take several years to sue and if you win it can take years to get any money. The losing party can declare bankruptcy or force payment plans that drag on for years. So traditional contracts are pointless.
Escrow.com looks ok - except that it's in the US and I didn't see anything for freelancers (if I want to sell a boat I see I'm covered :-) ). I didn't see any functionality like I'm talking about. But thaty's an option, maybe.
1. Nothing is exploit free - reducing risk is a good thing even if that reduction is not to 0. As for writing it - legal contracts are difficult too - but we use them all the time.
2. I'm not asking clients here :-) Nor would I demand it of a client. But there may be those motivated by something I can offer - like a discount? fun with new tech? granular control of acceptance & payment?
3. Crypto can have volatility risk. Or you can use stable coins or simply convert to fiat immediately. Again - if a smart contract option reduces one's risk it's good, even if that reduction is not to 0. There is an element of gambling in every single choice one makes, especially going into business.
Mm, that is different for copy-editing, which is what I do: I need to share what I am doing as I go along. OK, escrow looks a better fit.
> Escrow.com looks ok - except that it's in the US and I didn't see anything for freelancers
The category is "contracted services": see https://www.escrow.com/learn-more/how-escrow-works/professio...
They allow contracts to be denominated in Euros.
> But there may be those motivated by something I can offer - like a discount? fun with new tech? granular control of acceptance & payment?
Ah! Yes, I guess there are people in the smart contracts crowd who would be interested in talking. Since your story didn't get very far here, maybe Twitter is a better avenue?
https://solidity.readthedocs.io/en/develop/solidity-by-examp...
Doesn't mean it is bullet-proof, but certainly good enough for trying out.