[ANN][ICO] Confideal | Smart contracts management service and arbitration module

[zvisha]

By what standard was the Confideal token developed?

Our token was programmed to the ERC20 token standard. ERC-20 defines a common list of rules that an Ethereum token has to implement. 

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[zvisha]

Hi. Are there services that allow you to create smart contracts without involving third-party programmers, like yours does?

There are some similar services but they have a lot of work to do in future, all of them have alfa version of their products. Confideal has already released a working product, moreover, arbitration module is the huge advantage among competitors. Also, our token allows not only to perform deals even on million dollars but create a clear and transparent rating of arbitrators, as well CDL could be used for redemption tokens from commission fund with 50% discount.

[zvisha]

How is the selection for the post of arbitrators? Are there any criteria for the selection of an experienced professional?

The main criteria - arbiters need to confirm their status as professional arbiters. Arbiter is a qualified third-party legal firm or professional, chosen as an arbiter to resolve a dispute on Confideal platform. The choice of an arbiter for a particular contract is made by the counterparties themselves, before entering the deal;

If both parties know who the arbiter is, isn't it theoretically possible that - in case of a dispute - one of the parties / both parties try to bribe the arbiter?

He/they can't does/do that, a party needs to know arbiter in order choose professional, unbiased one. 

I understand that but I ask myself whether there is a possibility for collusion since you know who the arbiter is. Of course the arbiter is supposed to be impartial, but what if you offer the arbiter a nice amount of cash and the counterparty of a contract does not know about it?

In theory, it is possible, but no one can feel secured against this problem in real life. Our platform decreases such risks giving you an opportunity to choose arbitrators!

Ok. So maybe for the future it is an option to have a variety of arbiters being required for a smart contract to work as impartially as possible. Much like a multi-sig it could be a solution to have several independent arbiters which have to make a judgment. Or in the future maybe it is also possible to include fully autonomously working oracles as arbiters?
But then one question arises if you include real arbiters into your system as you do it now: how are you going to achieve cost savings over standard arbitration processes as we have them now? Why would they offer their services at a cheaper price on a blockchain than in real life?

It is very simple, in real life when you resorted arbitration in court you need to pay a lot of different fees, pay your own lawyer, also, there is a possibility of flight into another country etc. Our platform removes all these costs, you pay only up to 10% of the contract amount,  that's it. Arbitration on our platform is much cheaper than arbitration in real life, we took into account all these information

Is the judgment of a blockchain based arbiter legally binding? For example, what if an arbiter makes a decision and one party does not agree. What happens? Can that party still go to court and will courts accept the decision from an arbiter (which may not be an official judge)?

If both sides of deal choose non-interested arbitrator - it means that you have made a decision, of course, you can't agree with it but the national court will be definitely on the arbitrator side. If arbitrator broke the law - this is another scenario, but you can't contest the decision if you don't like that. Defeated party suffer additional costs if go to court.

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[fibrolit]

Hi,Devs.Why do campaigns in Twitter and Facebook dismissed for a month before the end of ICO?

[hunterofmoney]

Can the terms of the smart-contract be changed before it is closed on the consent of both parties?

[romgenie]

Are there any payment barriers that can lead to additional costs when executing transactions on Confideal platform?

[nothappend]

Good afternoon! If there is a dispute between the parties to a smart contract, do they independently look for lawyers to resolve the conflict?

[Gamelander]

Can Confideal users make changes to the smart contract at the software level if they have the relevant knowledge?

[specialAU]

What is the maximum term of the execution of a smart contract in Confideal that the parties to the transaction can establish?

[askon]

Can CDL token holder use them to pay commission for a smart contract?

[jager44]

Hi, if I have tokens of other projects executed according to the ERC20 standard, can I exchange them for CDL tokens?

[bit679]

Will it be possible in Confideal to conclude a smart contract for the provision of services by a company from another country?

[newboi]

How do you plan to raise the awareness of a potential audience about the Confideal service?

[zvisha]

Can the terms of the smart-contract be changed before it is closed on the consent of both parties?

You can change the terms of contract only before signing - after it is impossible for both sides!

[zvisha]

Hi,Devs.Why do campaigns in Twitter and Facebook dismissed for a month before the end of ICO?

Hello, how did you know that? Our advertisement campaigns working as usual!

[zvisha]

How do you plan to raise the awareness of a potential audience about the Confideal service?

We understand that Confideal interface must be simple and comfortable for everyone, that is why our platform definitely will have a lot of hints and recommendations for users. Now, we are working on a new interface. Also, we have released training videos, which describes What is Confideal? How does arbitration work? in order to increase awareness of all users.

[zvisha]

Hi, if I have tokens of other projects executed according to the ERC20 standard, can I exchange them for CDL tokens?

Hello, you can't exchange them but in future, you will be able to use Confideal platform through tokens other projects!

[woodcoin]

Hello! Will it be possible to manage smart contracts via Ethereum mobile application - Status?

[reallyhawk]

Hi, do the UNCITRAL rules apply to arbitration within the Confideal platform?