BitHalo founder and lead developer David Zimberk says:
“I see great potential to expand on some of the tipping movement that’s helping very much to accelerate widespread adoption. There’s a ton of utility in the [Advanced Payment] feature… I tested it on my sister, my friend in North Dakota and a friend in NYC. None had bitcoins before this, now they’re compelled to join the movement and with the ease of a few clicks of a button… BitHalo allows parties to create actual binding agreements peer to peer without the hassle or risk of involving a 3rd party. It solves enforcement for most, if not all, types of contracts VIA both parties sharing an equal risk. This software removes profitability from theft or fraud and allows anyone anywhere to trust a stranger.”
The company first came to prominence in July of last year, and has been described as the world’s first decentralized smart contracting software. The platform solely supported blackcoin until August of 2014, when it added bitcoin to its mix.
BitHalo’s website further states:
“You can trade seemingly anything for anything, with full confidence that the transaction will go through. Trade sheep for cows or corn for wheat; either way you can be assured that the transaction will be safe from ill-doing.”