Transaction agreements recorded onto immutable distributed ledger allows automatic payments on transaction completion.
Problem: Customer needed a platform to record the agreements on Blockchain and execute the payments on completion.
Methodology: Cenacle built a secure Blockchain based Escrow platform with below features:
- Agreements from the parties were recorded on Blockchain along with the completion conditions
- Upon submitting the proof of completion, the agreed upon amount is released to the other party automatically
Results: A Blockchain software platform for escrow payments
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Key concepts: Immutable Distributed Ledger, Escrow payments, Digital transactions
Domain: Banking, Finance, Blockchain