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Trust Service

BANKEX Trust Service allows people and companies to preserve and confirm the circumstances of transactions, contracts, or other interactions for further independent verification in a distributed network.

trust.bankex.comLaunched Q1 2018

Currently most blockchain transactions are made without binding agreements. Trust Service is an Ethereum module allowing parties to create and access a decentralized receipt of monetary transfers and additional information critical to a transaction such as details and conditions of a contract. The purpose of this technology is to preserve and confirm the identities and circumstances of blockchain transactions, contracts, or other interactions for further independent verification in a distributed network.

What is Trust

In addition to transactions, users can also store other formats data on blockchain, for example, a photo of a document or even a screenshot from a chat room on Telegram - users of the service can attach up to 10 documents in various formats, including data files, photos, PDFs, or actual legal agreements to confirm the facts regarding the conclusion and terms and conditions of a deal. Information about the location, amount changing hands and identities of the participants in a transaction can be added to seal the deal with confidence.

BANKEX Trust Service allows people and companies to preserve and confirm the circumstances of transactions, contracts, or other interactions for further independent verification in a distributed network. This protects both parties against the loss possible of documents, various forms of breach of contract in relation to the conditions of the agreement and fraud. It builds trust at a much lower cost by making intermediates such as notaries and legal professionals obsolete.

The alpha version of BANKEX Trust Service has been released, here it is:

https://trust.bankex.com/deal