Escrow is used in a transaction and there is uncertainty about the fulfillment of their obligations.
Consider a company that is selling goods internationally. That company requires assurance that it will receive payment when the goods reach their destination. The buyer, for their part, is prepared to pay for the goods only if they arrive in good condition.
The buyer can place the funds in escrow with an agent with instructions to disburse them to the seller once the goods arrive in a suitable state. This way, both parties are protected and the transaction can proceed.
With the recent implosion of major crypto exchanges the market for blockchain technology has taken a steep dive. Even though some bad actors have sullied the reputation of blockchain technology but do not fret as it is still very much the future.
We need to do better due diligence and better transparency most importantly is the need for real world problem solving solution using the blockchain technology. Let’s strive to get the blockchain technology solution to deliver better for the sake of everyone.
Take ownership and control by creating secure agreements and contracts in the block-chain.
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ESCROWIN
Enable anyone to create a custody or trust as a security, until a specified condition has been fulfilled:
Escrow is used in a transaction and there is uncertainty about the fulfillment of their obligations.
Consider a company that is selling goods internationally. That company requires assurance that it will receive payment when the goods reach their destination. The buyer, for their part, is prepared to pay for the goods only if they arrive in good condition.
The buyer can place the funds in escrow with an agent with instructions to disburse them to the seller once the goods arrive in a suitable state. This way, both parties are protected and the transaction can proceed.
Business & Revenue Model
Initially, the creation of escrow will require crypto tokens (EIN token) that can be bought with SGD/USD dollars on website.
We then also make our tokens available, and tokens can be obtained by trading from dominant cryptocurrencies such as ETH and BTC;
The value of the tokens is directly proportional to the following:
the variety of tasks that can be created and completed on ESCROWIN;
the range of API connections from ESCROWIN to existing social media channels, websites, and mobile apps;
the more API connections that are available, the larger the variety of task types, and the more valuable will be the tokens that are in fixed supply;
the extent of classification for tasks being created on the platform as well as tasks being extracted from the platform for completion;
the extent of categories/task types/location where task completer can have ratings information for task creator to use (such as sending task notification for a selection of completer profile)
The more useful the network is, the higher valuation will the token have, based on fixed supply and open market exchange;
Simplified escrow agreement contracts backed by a token-based blockchain technology.