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Extra Scoop incorporates an automated Smart Escrow system to manage financial settlement between newsrooms and eyewitnesses. Escrow ensures that newsrooms receive verified broadcast-grade media with full legal provenance, while ensuring creators receive guaranteed payment the moment licensing terms are accepted.

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How Escrow Protects Both Parties

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1. For Newsrooms

  • Guaranteed Media Delivery: Bidding funds remain in escrow until the creator accepts the agreement and the platform delivers the certified high-resolution asset.
  • Legal Certainty: Every settled transaction issues an explicit commercial licence backed by a cryptographic Digital Deed.
  • Automatic Refund: If an offer expires, is declined by the creator, or is cancelled prior to acceptance, locked escrow funds return immediately to your balance.

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2. For Eyewitness Creators

  • Guaranteed Payment: You never release unwatermarked, high-resolution original media on credit. Payment is pre-funded and locked before you accept.
  • Instant Payout: Accepted funds clear directly into your connected banking account through Stripe Connect.
  • Retained Rights: If an offer is declined, you retain full ownership and can negotiate with competing news organisations.

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Commercial Bidding Bounds

To maintain institutional compliance and market integrity, all commercial bids within the dealroom adhere to platform bounds:

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Settlement Lifecycle

  1. Offer Submission: The newsroom enters the bid amount in the Concord Dealroom. Funds are verified and held in escrow custody.
  2. Review & Negotiation: The creator receives a real-time push alert and can accept, counter-offer, or decline through the mobile app.
  3. Atomic Execution: Upon acceptance, the settlement engine executes simultaneously:
    • Anchors the Digital Deed to the public layer-2 ledger.
    • Unlocks the high-resolution media package and C2PA manifest for the newsroom.
    • Dispatches creator proceeds to Stripe Connect.