Yes, it's possible via an escrow intermediary. In practice, it might be difficult to find competent programmers who will work on those terms, unless they have other paying jobs (assuming we're talking about a programming proposal). But it's not impossible (we were willing to work on that basis to implement our rocksdb proposal).
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I guess if project deliverables are never... delivered... then that would likely prevent the worker from winning future contracts. And likely, projects wont get funded unless there seems to be some realistic expectation for successful delivery.
Thanks for the response.