- Operates on the Ethereum blockchain
Every step in the transaction is performed by a smart contract, with no human interference possible.
- Risk-free prepayment
Transfer funds without worrying whether you're dealing with a dishonest seller. Set up the deal and put the funds in Escrow. Our smart contracts take care of the rest.
- A simple way to test your counterparty
See whether your counterparty is trustworthy — ask them to use Digital Deal. If they refuse, you might have reason to think twice.
- Resolve disputes with decentralized arbitration
Dispute resolution for deals is handled using a distributed blockchain-powered arbitration service: BANKEX Smart Justice
When you buy goods or services online, your counterparty usually expects payment in advance. This exposes you to unnecessary risk. To check whether your seller/service provider is trustworthy, ask them to use Digital Deal automated escrow. A bad seller will immediately refuse. Digital Deal saves you time, money, and stress in obtaining what you need from sellers worldwide.
How it works
- Buyer and Seller agree on a deal. One of the parties sets up the deal using the Digital Deal web interface. Deal terms and documentation are immutably committed to the Ethereum blockchain by the BANKEX Trust API.
- Buyer transfers payment to BANKEX Escrow. Seller sees that Buyer has committed the funds and gets to work.
- Seller delivers goods or services to buyer. Buyer confirms with Escrow. The Escrow smart contract releases transfers payment to seller.
If the goods or services delivered by the Seller do not meet the Buyer's stated expectations, the parties can agree to a full or partial refund. If the Buyer's demands a refund in bad faith, the Seller can dispute their decision. Disputes are seamlessly sent to Smart Justice, where a group of independent arbiters examine the documentation provided during deal setup, as well as any additional evidence or arguments provided by the parties.
- Payment for services
Digital Deal is an all-in-one solution for drawing up a contract between a party ordering a service and a party providing it. The system is an excellent solution for freelance workers accepting payments in cryptocurrencies and for small businesses, which are ready to receive and send payments in cryptocurrencies
- ICO Bounty campaigns
Digital Deal is a perfect tool for ICO projects running bounty campaigns. Using BANKEX Trust and Escrow the project can automate the payments upon the completion of certain terms set for the distribution of the award to the participants of the bounty campaign
- Sale or exchange of assets
BANKEX Trust and Escrow can be an efficient solution for cryptocurrency transactions on p2p platforms like Ebay
- Peer-to-peer exchange
Secure peer-to-peer exchange of cryptocurrencies guaranteeing the parties correct execution of the exchange