Fair Contract in FairEco
Greeting everyone, today we would like to talk about our FairEco Smart Contract, our Fair Contract
Contract of the projects in FairEco platform is a contract only for Backers and Makers. The platform has NONE of wallet that store money for any related parties.
Platform helps facilitating the parties in the platform in creating contract that able to define the project payment policy and provide opportunity for Backers to approve or deny payment in each payment cycle to ensure that the project execution remains under control and Backers will eventually receive good products or services as expected.
FairEco smart contract or the contract comprises of the following components:
Contract Attributes
- Contract Unique Number
- Name
- Duration
- Description
- Impact
- Objective
Stakeholders Attributes
- Makers information including wallet address
- Backers information including wallet address
- Ay other Stakeholders
Project Policies Attribute
- Fund Needed
- Payment Terms
- Payment Terms Conditions
- Veto Score
- Rescue Score
For the successful fundraising project, the FairEco smart contract will be created and allocated exclusively for Makers and Backers on that particular project. Project policies including but not limited to total amount of raised fund, payment terms, amount of payment terms, deliverable for each payment terms, veto score vote for payment term approval and also rescue score will be encapsulated in the smart contract to ensure the continuous of the project execution for Makers, investment assurance for Backers and also transparency of project payment for both Makers and Backers. Ultimate goal of the FairEco platform is to create the fair participation of the projects for the community.
The platform can be utilized by Makers for project management such as project status tracking, project report for involved stakeholders and also communication channel for the project. Project management features are one the main functionality designed specifically for Makers in order to remove fundamental burden when carry on the execution and allow Makers to focus on crafting product or services that need to be delivered within agreeable time and plan.
Unique contract number will be assigned for any successful fundraising project that later can be used by Backers and public users to observe or track project status reported by Makers. Not only project status, but all challenges, remain issues, estimate time to deliver, previous project payment should be provided regularly by both platform and Makers. At the same time, the status report can be viewed as updated news or announcement of the project for marketing purpose in particularly.
Our ultimate goal is to open the opportunity for everyone in sharing the success story together, become trustworthiness platform for Makers and Backers in contributing to the society, facilitate the community in addressing any challenging and complex projects to create positive impact and also immune to any fraudulent activities by project empowerment. This is our intention since the beginning and definitely be a part of FairEco platform, the decentralized platform built on next generation of distributed computing technology or Blockchain.
FairEco Platform
FairEco platform, a Crowdfunding platform leveraging the Blockchain technology is designed and engineered to be the fair platform for Makers with innovative ideas to offer their products and services and also provide an appropriate margin for Backers to support the project at the reasonable amount of the investment. The platform also enables Backers who support the project to have an opportunity to confirm with the Maker for their executions of the project that they have invested from the start until project complete.
FairEco platform is designed to ensure that it is fair for EVERYONE who truly believe in Crowdfunding
Our KYC is approaching, stay tuned with us
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- Telegram : https://t.me/faireco_io
- Twitter : https://twitter.com/@faireco_io
- Web: https://faireco.io
Stay tune and we will keep you posted.
Thanks and Have a good day,
FairEco Team
