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

[spacegt]

Hi, can I now conclude a smart contract based on your service with my partner right now?

[1715078669]

1715078669

[dayasinfo]

In what locations will the Confideal service be available after launch?

[ferrum83]

Will voting of large holders of tokens for arbitrators be decisive in determining their rating or will there be other options for evaluation?

[rocketbit48]

If the parties to a smart contract are dissatisfied with the work of an arbitrator, can they replace him in the course of a dispute resolution?

[superwallet]

What data do you need to provide in order to become an arbiter at Confideal?

[zvisha]

Do you provide investors with a bonus when buying tokens in the first week of ICO? Where can I find a list of all available bonuses?

Yep, first stage bonus 25%. All info about bonuses you can find in the end of Whitepaper!

[zvisha]

If the set maximum of tokens is purchased before the end of the ICO, will ICO end or will the sale of reserved tokens continue?

Now, we are not limiting the amounts which investors could invest but we may implement some restrictions due to high demand. If we reach hard cap - ICO will close!

[zvisha]

In what locations will the Confideal service be available after launch?

In fact, all over the world!

[devilini]

What additional risks arise when concluding contracts in countries with strict currency regulation?

[nextwalker]

How long does the arbitration process take today?

[no-ice-please]

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?

[Mops]

How can the category of external risks be eliminated for your company?

[zvisha]

How long does the arbitration process take today?

The consideration process lasts minimum 10 days if the second party need to clarify necessary documents - he could extend the process,  resolution, and execution - lasts for 3 days.

[zvisha]

What additional risks arise when concluding contracts in countries with strict currency regulation?

If you concluding deals with our platform and resorted arbitration - you don't have risks, you can easily get your funds in the of the process. But, in case you resorted arbitration to national courts - there may be difficulties with returning contract value.

[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

[Eric.Lichmann]

Confideal will be the first project in their career for many members of your team. Are there any people among you with impressive experience who had worked in large companies?

[bor82t]

What is your goal for ICO fund-raising, which you will consider enough to achieve all the goals?

[devilini]

Won’t the cost of tokens change During the ICO? If it will, what will it depend on?

[Gamelander]

Will addition of any new features allow Confideal to become a full-fledged platform for the conclusion of international contracts?

[zvisha]

hello how see more details about this project, because i do not see links the website and others. if indeed in the update process, I want to see how the performance of this project. sorry previous i am not see the links it. please tell me. 

Hey, buddy, here is the main link https://confideal.io There you can find Whitepaper and some additional information. If you have questions - don't hesitate to ask!