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Smart Contracts and the Future of International Trade.

Avatar newsbtc 3 years ago

If your funds have not found their way to the $15 – 20 trillion international trade markets or for that matter, the $1.4 trillion real estate investment market yet, they eventually will. Now, regulating monetary movement of such humongous proportions is not at all an easy proposition. However, the process becomes pretty streamlined by putting relevant contracts in place.

But, the fact is, that enacting such contracts involve significant risks. And in addition to these risks, which originate from the exchange itself, all parties have to spend significant resources to create and maintain the contract.

Enter Confideal (ICO scheduled for 2nd – 22nd November 2017), a platform, which leverages smart contract technology powered by the Ethereum blockchain to solve pressing issues faced in modern contractual processes.

Realizing the fact that smart contracts may at times require coding which can only be done by software professionals, Confideal developers will launch a whole bunch templates for smart contracts in the platform, which can form the basis of any desired contract.

These templates can be customized as per requirement, for mining gear rentals, real estate rentals, ICOs, freelancing etc. This in turn will eliminate the need for experienced professionals to create room for entry-level participants.

Thus, all kinds of businesses will have a free solution for creating and using smart contracts. Beforehand, the cost of creating a new code for every new smart contract would draw up tons of expenses (code creation, audit of the code etc.)

Confideal is opening up new avenues for the development and implementation of blockchain based smart contracts and decentralized applications in various business scenarios. With the increasing adoption of cryptocurrency technology among masses, the service can be the most convenient option for may in the coming days.

This in turn enables companies from across the globe to enter into contracts with each other inside the Ethereum eco-system. Fulfillment of each contract is made possible by a software code which is independent of human interference.

The terms of the contract and the money (in Ether) is released only upon compliance of all included conditions within the contract, sort of like an escrow feature.

Confideal offers a platform where parties participating in contracts can utilize the necessary tools available at their disposal to predefine conditions, while providing conflict resolution services by hiring arbitrators.

This mechanism is the most crucial aspect of the Confideal eco-system, which caters to users by letting them enter into typical commercial contracts for delivery of goods and services through a user-friendly interface.

Confideal Token (CDL) developed as per ERC20 standards, will facilitate payments in the Confideal eco-system. The tokens created during the ICO will be made available at the rate of 1000 CDL/ETH. The platform is intended for individuals, small businesses, large enterprises, and online businesses.

More information about Confideal is available on the platform’s website.

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