A New Platform ( Decentralized Escrow)

Shovon Hossain is the author of this article.

Blockchain has proved its worth as a decentralized distributed ledger and growing worldwide interest in this subject testifies it directly. Introduced by Blockchain, а new paradigm of relations between people that excludes intermediary services from this process, is not used to the full extent of its power, and it’s also being manipulated in part. The reason is that management of structures and servicing services around Blockchain are not different from the classical, capitalist approach. In its turn, ICO (Initial Coin Offering) — as a new type of business ideas and acting projects funding is gaining more and more popularity. The amount of money entering the economy, therefore, has been increasing from year to year and is already estimated at billions of US dollars. Moreover, the classic scheme of investment raising — crowdfunding, long established its viability and truly global scale also stands in the way of global changes and adjustment to the new e-commerce paradigm. DES keeps up with the times, catches the market movement and will be a necessary deputy in the new economy development.

Common sense, pragmatic and precise calculation is not keeping pace for such growing kind of investment, as ICO. There is a precious sight of ideas appear at the market, and it is not possible physically to monitor purity of a project team intentions and business plan operability. Investors at least a little, but try to invest hastily in the maximum number of companies, and thinking: “Maybe the shares that I have bought will grow and I shall become rich in no time.” Yes, Blockchain is really a technology that will allow to arise companies with multibillion-dollar capitalization. Nevertheless, this does not exclude emergence of unscrupulous projects that at the start of fundraising campaign do not plan to immediately withdraw money after ICO close and disappear. But at the moment the projects receive large sums of money enough to live comfortably for a very long time, not being responsible for the non-return of these funds to investors, it involves laziness and reluctance to implement the conceived ideas. The profit they can receive with the ideas implementation is delayed in time and probability of achieving it is not 100%, but the funds from ICO are already on hand. It follows that innovative approach collecting (ICO) is in compromised state.

Some present problems :

  1. Absence of final startups.
  2. Lack of confidence in escrow, as a rule, with a single person or a company standing behind it back.
  3. Lack of control over funds expenditure during project implementation.
  4. Lack of a convenient interface for interaction with Startup on its way to obtaining the final product.
  5. Many fraud companies display fake products take investors valuable money and run away.
  6. Lack of experienced team they do not last longer and execute their plans
  7. Many ICO selling their tokens for higher value but lack of integration with other organization or lack of advertisement and Marketing their tokens price fall below their initial price and investors loose their monies .

1.2. Problem Solutions.

Escrow, multisig is an excellent solution for increasing the security of collection, storage and distribution of value. But classically it also does not exclude the presence of the human factor and can be manipulated in a varying degree. The solution of the above problems with confidence in the project, team consistency and the confirming intermediary (escrow) is:

  • Decentralized Escrow (DES).
  • The Decentralized Escrow Platform.
    DES allows, by majority voting, to determine the further financing of the project, which previously distributed the stages of receiving tranches for the idea implementation. As we understand, it is impossible instantly to write a program code, create a working model and a profitable business, the stages of its implementation are divided in time and take at least six months, or even more. Therefore, creation of Roadmap and phased financing is normal and realistic practice, without its presence, it is possible to question the project viability and Startup desire to spend raising funds as per its intended purpose. Each stage of the project includes the necessary work, which Startup undertakes to perform by the certain date and provide them to the investors’ court for the next financing round. DES consists of voting mechanism, where the decision is made by the majority (more than 51%) of direct campaign participants, project investors according to the number of shareholding. There are more feature how DES helping Crypto community.

Need more info? visit https://descrow.org/

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Originally published at steemit.com on August 23, 2017.

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Decentralized Escrow

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