HOW WE MAKE MAGIC WITH ESCROW.
Hey Blockscart’s and the wider Crypto community.
ESCROW: HOW IT WORKS
When a seller lists an item or service, they are fully aware that they don’t receive payment until the buyer confirms receipt of order, just like on Fiverr.
On Fiverr, the buyer has to mark the order as completed and the seller has to then wait 2 weeks from that date to be paid.
Long time don’t you think?
Well on Blockscart, a seller will be paid a maximum of 48 hours after the buyer marks their order as received.
SO HOW DOES A BUYER MARK AN ORDER AS RECEIVED?
Again, it’s with a click of a button!
In your orders and sales page, a buyer and seller can see the order information. Whether they are the seller or buyer, the display is the almost identical but depending on who is who there will be an option to mark order as complete.
As shown in the image above, which is a buyers view, they get to hit the update order button.
These are the two options:
When you are a buyer and have received your order then all you have to do is press; “Complete, release escrow: funds to seller”
Then “update order”.
This notifies the smart payment system in the platform and automatically updates the sellers balance in their dashboard.
If a seller wants to get paid to their wallet, they just request payout within the “payout” tab in their dashboard.
The Blockscart support team will execute request and ask the seller if they wish to receive BLXS or USD (USD Minus 5% sale).
Once seller responds, the team will trigger a release of the payment to the seller. A maximum time of 48 hours for USD and 24 hours for BLXS.
SELLER UPDATE
If a seller has delivered the item or service, they can notify the buyer and platform support through the order messenger system.
We can then send an automatic email to the buyer to notify them of delivery.
This will give them the nudge to complete the order in their dashboard.
DISPUTE
If for any reason there is a dispute, we will request both buyer and seller to provide evidence of the order and the arguement from both sides.
Disputes process is simple and due to the BC messenger system, it gives more transparency with proof of delivery and delivery tracking information if a physical item to make the final decision and provide an outcome.
REFUNDS, TERMS OF SALE AND DELIVERY
These will all be upto the seller at point of sale and will be given/stated in the listing description.
If you have any questions, ask the seller.
Remember, Blockscart is the platform giving you a fee-free place for trading with trusted Escrow systems backing all payments offline in a secure encrypted wallet. (Trezor & Nano Ledger).
No payments are stored on the platform.
Blockscart Platform uses an in platform smart contract system with points based balances, just like a game.
We only distribute payment once a customer has completed order or a dispute resolution has been completed.
If you have any questions feel free to ask the team…
Blockscart provides a one of a kind on platform points based system that allows for the removal of fees, removal of banking information which is a security risk and no need to worry about your wallet security as we have no platform information stored that a naughty person can try to get hold of.
The benefits of a Cryptocurrency only e-commerce platform is coming very soon.
Thanks to all our supporters, investors, communty bounty hunters and all you people lurking in the background.
For more information, email: support@blockscart.co.uk
Team Blockscart.
