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March 26, 2018, 02:56:50 PM |
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Let us look at a concrete example. A company orders an iOS mobile
app for 7500$. Freelancer accepts the order. There is a clear set of
tasks agreed by both parties. The parties decide to place the order
within the secure transaction with the participation of the
Develop[crypto] as the guarantor. The DEV token current price is 1.5$.
The customer transfers $7500 to Develop[crypto] to fund the
transaction by using a variety of methods which include, but are not
limited to, WIRE transfer, PayPal, Visa, MasterCard, and more. After
receiving the money, Develop[crypto] purchases DEV tokens for this
amount. In this example, there are exactly 5000 tokens. In reality,
purchase on the marketplace will not occur every time (this point is
explained below). The purchased 5000 tokens are reserved since
the freelancer has started the task.
After the task is completed, Develop[crypto] transfers 5000 tokens
into the contractor’s personal account. He can use them to pay for the
other tasks (as the customer), store it on the account or withdraw into
fiat for a small fee. In this case he transfers 5000 tokens from his
personal account back to us and we transfer him the fiat currency to
the checking or savings account, bank card, PayPal etc.
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