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2020
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Escrow system for payments, where either the buyer or seller of a service can start the contract and specify the arbiter to decide in case of a dispute (neutral 3rd party). The buyer deposits the funds in the escrow and the seller starts working on the order. Once the buyer confirms the delivery the funds are released, alternatively, the seller can claim the funds after a certain amount of time has passed if the buyer didn’t raise a dispute. The dispute is solved by the arbiter that has been specified when the contract was created. The platform will feature a nice intuitive and user-friendly UI. Upon the contract being accepted the buyer will receive an invoice so that businesses can use it for their transactions. The hash of the service description is saved in the contract so that both parties can prove the content of the contract individually.
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