Confideal: New Unique Marketplace for Smart Contracts

Sep 28, 2017 at 13:33 // News
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Confideal is a new smart contract management service. While Ethereum is quickly becoming the de-facto choice for smart contracts, it still requires programming knowledge and familiarity with Ethereum to manually create them.

People who are interested in utilizing smart contracts have one viable option - to outsource the programming to someone else, which can incur costly fees. Furthermore, if a dispute arises, a third party arbitrator will usually not be familiar with the smart contract nor the specifics of the contract. 

Confideal offers a holistic solution, with tools to create, maintain, and fulfill contracts, as well as resolve disputes by hiring arbitrators, all under one roof. Unlike other projects, Confideal has a public working version of their platform, allowing anyone to test out their offerings.

Confideal’s usability is broad, being able to cater to individuals, small and large businesses, as well as online business. Individuals could use smart contracts to do things like escrow deals with real estate, use crypto as collateral, or even lease a car.

Other real-world uses of the Confideal platform include:

·    Freelancing service agreements and payment
·    Cryptocurrency as collateral (e.g. crypto pawnshop)
·    Import/export supply deals
·    Escrow service Corporations will be able to utilize

Confideal’s platform in order to handle royalty payments automatically, internal deals, and even more advanced contracts. Things like long-term contracts with deferred or installment payments, chained contracts, as well as multilateral contracts are achievable using the collection of smart contract tools that Confideal offers.

The ICO for Confideal will launch November 2nd, with the first 5% of the 100,000,000 CDL tokens sold at a discount of 25%, from the typical 1000 CDL = 1 ETH rate. The discount will go down as more of the tokens are sold, down to 3%.

74% of the tokens will be used in the ICO, 10% for the team, 6% for the pre-ico, 4% for promo activities, 4% for advisors, and 2% for the bounty campaign. 

The funds will be used heavily for product development, as well as business growth. Smaller allocations for marketing, operations and legal funds will be set aside as well.

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