Oct 11, 2018 at 07:42
Oct 11, 2018 at 07:47 UTC
Natmin Pure Escrow’s services seek to combine the transparency and accountability inherent in blockchain technology with the security that is almost a hallmark of escrow services. Escrow services are nothing but a service offered by a third party to a transaction in terms of holding funds until contractual obligations in the deal are satisfactorily met. Where does blockchain come in there? It does, in the case of Natmin, to make sure that this decentralized service no longer needs mediation by actual people prone to subjectivity or corruption. Moreover, the transparency accorded by the openness of the blockchain network makes sure that all transactions that occur using this system are not just secure and accurate, but also in line with regulatory directives.
Before looking at what makes Natmin so unique and user-friendly, we might look at how it works towards decentralizing such a service. The process undergoes six stages. Firstly, the two parties – the buyer and the seller – create the transaction they want to carry out. Then, the parties decide the terms of the deal or the sale they’re about to make. In the third stage, the buyer provides the requisite amount to the escrow account based on the amount agreed upon in the terms. Then, the next two stages involve the seller dispatching the deliverables and the buyer confirming receipt of the consignment or relevant services. Lastly, after confirming everything has been duly taken care of, the escrow service releases the funds. In Natmin, the use of Smart Contracts Technology makes sure that these processes are quick, cheap and self-regulating. Provided everything is in order, the two parties pay 0.5% of transaction value each to the service provider. This entire process offers the following advantages:
1. Online purchases have an extremely low transaction fee, making it not just quick but also immensely cost-effective.
2. The fact that Natmin adheres to all relevant regulations by AML ensures further trust and security.
3. The Natmin interface is extremely convenient for users.
4. Users feel more confident in using Natmin services since they promote voter reputations.
Clearly, the way it works offers a great deal of benefits and advantages to users who can make their transactions simpler and quicker at a very low cost. In today’s era, almost everything can be done by a press of a button or the swipe of a screen. Consumers of the modern world hardly have the time to wait around to confirm all deliverables and other aspects of a transaction in a manner that is time-consuming. Besides, the cost-effectiveness of the service is also essential for it to remain in sync with the user’s needs. Since Natmin takes care of all these aspects in a seamless manner, it is clearly the future of Escrow Services in the fintech industry. With it, we can surely expect some stellar service that makes it extremely convenient for users to complete transactions.
The NAT token, built on the easily usable and widely adopted Ethereum blockchain according to ERC223/ERC20 standards to provide support to several kinds of functionality, so buyers and sellers can use the token to settle transactions between themselves. While Natmin users can acquire NAT tokens from the official platform directly, others will have to buy them after the Token Generation Event. With its universal applicability and ease in usage, the NAT token is meant for convenience more than just the escrow services.
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