CONFIDO a trustless Escrow Payment Solution

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Every day more and more people come to the world of cryptocurrency. This is fine, but at the moment the moment of crypto money is not widely used as a form of currency.

One of the factors that affect this is the fact that there are no identifiers associated with purse addresses, so the system has an increased risk of fraud. There is a huge lack of confidence in operations that use crypto-currencies. The Confido system is being developed to remove mistrust while remaining decentralized and protected.

Confido is a payment solution developed to be used by both businesses and individuals. It provides secure escrow payments using smart contracts, without relying on a third party to control the money. The unique thing about Confido is its shipment tracking feature. Confido will track a package up to the point that it gets delivered, and will only then release the funds. This is all done in a trustless and decentralized fashion using smart contracts on the Ethereum blockchain.

INTRODUCTION TO CONFIDO

The Confido token is a basic ERC20 token that has the same capabilities as most other ERC20 coins. The thing that makes Confido tokens valuable is the ability to earn Ether passively by holding tokens. Users that have invested in Confido tokens will receive 0.7% in ETH of the payments made through Confido (they will receive 100% of the transaction fees paid by the users). That means that investors will earn money simply by holding the token. Pay-outs are bimonthly and will start in Q2 2018.

Confido works by using smart contracts with a unique shipment tracking feature. When a new transaction is made by a user, Confido will generate a smart contract using a secure smart contract template and the data entered by the user. That smart contract will act as the escrow between buyer and seller. Once the funds have been received by the smart contract the seller is prompted to submit a shipment tracking code to the smart contract (which is all done inside our app). Our smart contract will continuously track the status of the package and will release the funds 24 hours after the package has been delivered. In case of a wrong or faulty product the buyer can put the transaction on hold.

BENEFITS OF CONFIDO

  •  A secure system: With the recent hacker attacks in the world, crypto-currencies are becoming more and more worried about security. In Confido, we want users to feel safe using our service. We achieve this by providing two-factor authentication and reliable encryption of user data.
  • Secure transactions: Transactions made through Confido are safe. The money that was sent to the smart-contract will be paid s only after the package is delivered. If the product is of poor quality or is defective, the user can suspend the transaction.Confido does not need to trust third-party users when using our payment service. Everything is handled by open-source smart contracts on Ethereum.
  • A secure messaging system for connecting buyers and sellers: Buyers and sellers can communicate with each other via the Confido secure messaging system. The messaging screen displays the transaction made by the buyer / seller and the transaction status next to the user name. The messaging function allows the buyer and seller to ask each other questions about the transaction and the product , as well as solve any problems in the process of fulfilling the order .

Here you can see a preview of the Confido app. This way you’ll get an idea of how things will work once it’s released. Ease-of-use is very important for us, therefore we went with a simple yet effective design. Check out the different screens by clicking on the dots below!
Through use of the company’s mobile app, Confido users create an individual profile. Their medical information is then stored on a secure, compliant blockchain platform, allowing them to connect with care providers as well as other patients who have similar health issues or concerns. This allows patients greater control over their overall health across multiple care teams, both inside and outside of the hospital.

Value Proposition of CONFIDO

The safest and most convenient to use solution for paying escrow.Paying with escrow is as easy as clicking the “New Transaction” button on the toolbar and entering some simple information. After that, the seller receives a notification and sends the package to the buyer. The seller enters the package tracking code in the application by clicking on the pending transaction. A smart contract checks the correctness of the address associated with the tracking code, and if everything is correct, it will constantly monitor the status of the package delivery.

Confido tokens will act as a substitute for payments in fiat currencies and will enable people to be rewarded for their work — without cryptocurrency’s signature volatility risk.We have taken great care to design the system for ease of use, to make sure that actual labour time and the Confido token can be exchanged efficiently for each other. While timebanking in its simplest form uses a standard exchange rate for time, each http://confido.io participant will have reputation assigned to them, to enable them to access remuneration appropriate to their skill level.The better the individual’s reputation based on previous work, the higher the price they will be able to command for an hour’s work. Initial reputation will be set based on the individual’s experience within the partner company from stage one of the project.

ICO

Initial sales will start on October 14. The token that we will sell is called the Confido token. The total volume of the offer will be 15 million tokens. 50% of the tokens will be sold during the ICO, 40% will remain in Confido possession, and 10% will be allocated for the advertising campaign. Our hard limit of fees is $ 300,000. This means that, without taking into account the bonus, the price of one Confido token will be $ 0.04. We have a minimum level of funding of $ 50,000. If our goal is not achieved, we will all return investors.

The Confido Token is a token of the ERC20 system, it has the same capabilities as most other ERC20 coins. What makes Confido tokens valuable is the ability to generate income passively simply by keeping tokens. Users who invested in Confido tokens receive 0.7% of payments made through Confido. Payments will be made in ETH. This means that investors will earn money simply by keeping a token on their purses. Payments are planned every two months. The Confido Token will also be used on our platform. This will be the only form of payment where there is no commission of 0.7%.

 

For more Information visit

Website: http://confido.io/

Official page: https://bitcointalk.org/index.php?topic=2173212.msg21788826#msg21788826

Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1017518

 

 

 

 

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