Brixby, a decentralised transportation app, starts cooperation with Jury.Online for escrow services
January 31, 2018 — Brixby (www.brixby.io), a blockchain based transportation app, that will utilize the Ethereum network, today announced cooperation with Jury.Online (https://jury.online ), a Platform for safe and responsible ICO execution, which brings together Investors and Projects.
Jury.Online is to become the new standard in the current and still not fully regulated question of managing Investor-ICO relations. The main task of Jury.Online is escrow of the contributor’s funds and release of the funds to the Brixby project once the set goals have been reached. The escrow mechanism is automated with smart contracts, that require no human intervention thus preventing any tampering or mistakes. Jury.Online experts-arbiters from the fintech, law, IT and blockchain industry will be independent and unbiased advisers of the realization and implementation of the Project’s roadmap.
Usually an escrow mechanism is used for more complex financial transactions involving large amounts of money and several conditions that have to be met prior to the funds transfer. Escrow is an arrangement, where a trusted independent third party is used to secure and distribute funds that are moved between two parties. This arrangement allows for a more security transaction, when during the escrow period funds are held in the trusted third-party account and released only when all the terms of the agreement are met by all parties, and confirmed by the escrow provider. Usually the escrow is provided by banks or lawyers and is a rather complicated and expensive procedure.
What is different with Jury.Onlie as compared to the traditional escrow mechanism is the fact that the process is fully automated and based on smart contracts. Smart contracts are computer protocols created to facilitate, verify, or enforce the performance of contractual conditions. This way, it is possible to make credible transactions without verification of third parties foregoing a lengthy and expensive process where many people have to be deeply involved. The smart contract will contain all the conditions to be fulfilled by both parties, Brixby and the contributor, and will be executed once the conditions are met and confirmed by this contract.
Brixby plans using this service primarily for large contributions to recreate the secure mechanism of traditional escrow without huge time and money expenditures.
“We think that institutional investors often hesitate to put the money into ICOs since both the technology and the process are not conventional. We expect that cooperation with Jury.Online will provide this familiar environment allowing us to work more efficiently with large contributors. Our goal is to ensure that the contributors’ funds are safe and used according to the roadmap we agree on. However, it is very important to remember that the market is changing all the time and we may see some variations from the initial roadmap in the next 2 years. We are here to transform the market and we need the contributors to be flexible, understand market changes and are ready work with us in order to succeed together in this global challenge.”
Daniil Titarenko, Brixby CEO & co-founder
We are proud that Jury.Online is chosen to systematize the relationships with investors who are interested in participating in such an interesting and promising project as Brixby. Our cooperation is a vivid example showing that in our rapidly changing world, even such a new phenomenon as an ICO- investment, already now requires completely new approaches. It is obvious that Jury.Online platform is one of such approaches, which incorporates a whole range of highly effective tools for protecting the interests of both investors and ICO-projects.
The joint work of the Brixby team and medium / large investors on the Jury.Online platfor will definitely become another factor to contribute to the success of the Brixby’s ICO and implementation of the project as a whole.
Nikolay Prudnikov, Jury.Online Business Development Officer
Mr. Titarenko also said that the Brixby team is currently concentrating on choosing strong and reliable partners for conducting an ICO, such as marketing and technology, including add on widgets, that will expedite the commercial launch of the project. The partners that can bring extra transparency to the project are particularly valuable to the Brixby team.
About Brixby
Brixby is a marketplace that brings together people who want to rent, park, and charge their (electric) cars and asset owners of any size who are ready to offer those services, in one easy-to-use Brixby app. Brixby will provide a decentralized blockchain-based marketplace, where each transaction is confirmed. Transportation services are in high demand, due to the growth of cities and increases in population. It is a USD 74+ BN market, that will only grow in the years to come, which is ready for innovation and transparency. The Brixby team has successfully implemented similar services and is now taking on this global challenge.
To learn more about Brixby, please visit https://www.brixby.io
Media contact: info@brixby.net
About Jury.Online
Jury.Online — is a Platform for safe and responsible ICO execution, which brings together Investors and Projects. The funds invested in a Project, as well as Project tokens are held in an escrow in a smart contract and are consequently released to either party only when a milestone of the Project is reached. In case the Investor disagrees with the end-result of any milestone, s/he can turn to a wide range of impartial Arbiters-experts, cooperating with Jury.Online.
To learn more please visit: https://jury.online
Media contact: n.prudnikov@jury.online
