2018-10-15 23:53 |
Gone are the days when we would fumble around in our pockets for a wad of cash to pay the seller with. The recent years have been all about online transactions and money transfers. While the pros are many, this facility carries in its wake a host of cons, one of the major ones being security concerns. Fraudulent scammers are always a step ahead to swindle users; a trusted way to deal with them is by using Escrow Services.
Natmin Pure Escrow is a decentralized application that promises to transform this field by offering pure Escrow Services. An escrow service serves as a third party to safely store funds until all obligations stipulated as part of a deal have been adequately fulfilled by both parties- buyer and seller.
Using such a service is a great way to ensure one is not short-changed or forced to pay a larger amount for inadequately fulfilled deliverables because it makes payments only after stipulations are met.
While escrow services are common, Natmin sets the bar much higher by promising a safer and more transparent service. How does it seek to attain greater security and transparency? It does so by using a decentralized model based on blockchain technology. This eliminates the need for human intermediaries and the possibility of human error.
It uses Smart Contracts to make it automated and self-regulated so that deals can easily be completed with a press of a button without having to undergo time-consuming checks. Since there is no need to employ actual people or carry out repeated checks, this helps to save a great deal of resources in terms of both time and money. Considering Natmin is adherent to relevant AML/CTF regulations, the security and legality are further consolidated in this service.
Clearly, the future of Escrow services lies in tapping the boundless potential of blockchain, and Natmin is well ahead of similar companies in taking the lead and initiative to make the bond between escrow and blockchain a reality. Combining the security benefits of escrow with the transparency and accountability advantages of blockchain, Natmin is naturally set to become the first choice of every buyer or seller on the internet.
The use of Smart Contracts is a brilliant stroke that transforms the very nature of escrow services, particularly for online transactions. By automating release of funds, the smart contracts technology introduces an unprecedented level of ease in the whole business of transaction between a buyer and a seller.
As a result, not only can the user rest free of worries about how to arrange the exchange, but also remain assured that the practically infallible smart contracts technology will deliver impeccably handled results at the end of every transaction. With Natmin, the user can enjoy an extremely convenient transaction process that is cheaper and faster than usual too.
The post Natmin Building a Bridge Between Escrow and Blockchain to Double Security and Accountability appeared first on ZyCrypto.
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