On-line shopping with cryptocurrencies using deal escrow on smart contracts

Digital currencies demonstrated tremendous growth of value and adoption this year. Being recently used mostly for operations of speculative nature and storage of wealth, cryptocurrencies are now widely involved in transactions as a payment instrument. Lack of trust is one of the leading obstacles for market to implode. No seller will agree to ship the product before a customer pays for it and customer prefers to be confident about quality of product and decency of the seller before transferring money.

Blockchain technology provides an opportunity to create a secure escrow for any deal that is transparent for both parties. By transferring money to smart contract buyer assures payment for seller and 100% money-back guarantee for customer — funds would be released only when product is successfully shipped and accepted by customer. That’s made real due to «Qilin Market» unique approach involving a delivery operator to ensure the deal through oracle.

QILIN.MARKET IS THE DISTRIBUTED TRADING PLATFORM FOR EXCHANGING GOODS USING DIGITAL CURRENCIES WITH SECURE DEAL ESCROW ON SMART CONTRACTS UTILIZING DISTRIBUTED LEDGER TECHNOLOGY

Utilizing distributed ledger technology with smart contracts for exchanging goods with digital currencies, “Qilin.Market” creates a secure and transparent escrow for all parties assuring money–back guarantee for buyer and secure funds transfer for seller. Buyer transfers funds to smart contract that releases payment to seller only when product is successfully delivered and confirmed through independent oracle on blockchain.

Transactions take place directly between the buyer and seller, and there are no middlemen to put additional holds on funds. Due to its P2P (peer-to-peer) nature, goods can be traded directly, easily and what is more important, freely. That disrupts traditional e-commerce model making a direct connection from end-to-end in the global supply chain.

Connecting sellers, buyers, delivery services and marketing partners together makes «Qilin Market» uniting all e-commerce market participants together on a global distributed platform to disrupt the way e-commerce market is governed and operated.

Website: http://qilin.market
Whitepaper: http://qilin.market/whitepaper

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