An escrow is a trustworthy financial agreement where a third party holds and regulates the fund payment for two or more parties in a transaction. It adds reliability to transactions by securing the funds in an escrow account, which is only released when all the terms of the mutually decided agreement have been validated by the escrow service provider.
While it has proven to be very useful to organizations in ensuring online transactional security, there are some challenges that cannot be overlooked. Conventional escrow services come with a hefty price tag, which small and medium-sized companies fail to afford. Additionally, escrow services are extremely complicated and rigid which makes the transaction process inefficient and highly complex.
Natmin Escrow — Rendering an Effective Solution
Natmin Pure Escrow is a decentralized platform based on blockchain technology that envisions to provide reliable and cost-effective escrow services to users across the globe. It incorporates smart contracts that help in eliminating the middlemen, lowering the transactional costs, and strengthening the security of transactions. By providing easy and cost-effective escrow services, Natmin enables companies of all scales to offer their customers reliable online transactions, further amplifying their stand in the digital marketplace.
Easy and Efficient Approach to an Escrow Transaction
Natmin enables users to generate a standard escrow transaction in just six steps:
- Either the buyer or seller can generate the escrow transaction.
- An agreement is presented to both the parties, which they must agree upon.
- After finalizing the agreement, the buyer funds the escrow transaction account.
- Upon payment confirmation, the seller is notified to initiate the trade.
- Once the trade is complete, and upon confirmation from the buyer, the fund is released to the seller.
In case there is a conflict from either party, it makes way for a dispute transaction.
- Either party can initiate the dispute by providing relevant supporting documents.
- NAT Nodes (reputable voters on the platform) vote on the relevancy of these supporting documents.
- Either party can appeal the decision.
- The dispute transaction is subjected to up to two voting rounds in which, the second round determines the final decision.
Low Transaction Fees
Contrary to other centralized escrow platforms, Natmin only charges a 1% transactional fee, which is payable by the buyer and seller at 0.5% each. In case of any dispute, only an additional 3% is to be paid by the party that has initiated the dispute. Any party (buyer or seller) raising a dispute on this decision needs to pay an additional 3% to commence the second voting round.
Miikka Saloseutu — Empowering the Natmin Team
Miikka Saloseutu has joined the expert team of Natmin Escrow as a Strategic Marketing Advisor. He brings with him an extensive knowledge base and experience, having busted his buns in the digital marketing domain. Miikka’s proficiencies extend to Search Engine Optimization, Venture Capital Investments, E-commerce Optimization, Initial Coin Offering, Cryptocurrency, Pay Per Click, and Angel Investments. He is also the founder of icotokennews.com and cryptocoinjudge.com, and the CEO and founder of Triplex Trading OU, a digital marketing enterprise focused on high-targeted SEO-based affiliate marketing in the financial landscape.
With his extensive experience and expertise, the Natmin team aims to promote the platform on an international landscape, and further avail its services to a global audience.
A Transformational Escrow Platform
Natmin Pure Escrow is a blockchain-based platform that is empowered with unique features and a strong team of experts. It seamlessly eliminates the crucial impediments of conventional escrow platforms and provides its users with an easy and effective solution to trade without any transactional worries.
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