Attempted Fraud –> Why it Fails:
If A receives the code but does not deliver the item –> Impossible, because the exchange is SIMULTANEOUS.
If B receives the item but does not provide the code –> Impossible, because the exchange is SIMULTANEOUS.
If A does not deliver the item but wants to claim payment (pretending to have delivered it) –> The proof that they delivered the item is holding the code; -> they don’t have it, so they haven’t delivered the item, therefore no payment to A.
If B receives the item but wants to cancel the transaction (pretending not to have received it) –> they must receive confirmation from A; -> A does not confirm because they hold the code, therefore no refund to B.
If A wants to deny B’s cancellation when the exchange has not taken place (pretending it has) –> The proof that the exchange took place is holding the code – so they must enter it; -> they don’t have it, therefore unable to deny.
SIMULTANEOUS exchange of item for code –> Consequence:
No unilateral event allows for gain!
