The need for escrow system in the blockchain can not be overemphasized. Following the need to exchange tokens to tokens/coins on an exchange is the inherent need to wanting to 'cash-out' fiat in our local currencies in various destinations of the world. Sometimes we may not need to cash-out fiat per se but instead of going through the hurdles of using an exchange platform we may decide to opt in for an escrow service. Wouldn't that be easier, faster and cheaper than paying a high amount of fee as a transaction cost, what if you know you would only pay as low as 0.5% of your transaction as fee using a blockchain based escrow service?

Natmin.io - Decentralized Escrow Service

Natmin is a pure escrow platform that's powered by the blockchain which makes it a truly decentralized, automated, secured and trustless platform. The era of fraudulent activities in the escrow industry is gradually coming to a close with innovative platforms like Natmin using the power of the blockchain to curb such nefarious activities.

The performance strategy Natmin intends to work with is quite simple, not much of a complex architectural and structural framework in place. They are set to deliver superior quality service with the primary and sole focus on the Escrow service (not introducing any other functions now or in the future) as a way of making the platform simple and straightforward even for the most naive users of the blockchain and escrow services in particular.

The key focus primarily is in:

Making the cost of transaction low with lower transaction fees

Easy navigation of the escrow platform even for the most naive of us all

AML/CTF regulation, which provides peace of mind for customers

The integration of Node Voter reputations which inspires confidence in the dispute system/process.





What if there is a dispute in the escrow process?

Errors and human mistakes are inevitable, they are part of what makes us unique and who we are. But then again things could go wrong - just anything - especially when it is transactions between various parties. The image below shows the processes taken in dispute resolutions.

The Natmin node system framework is quite impressive as they aim to make dispute resolution time efficient and qualitative as well. Anyone can register to be a node in the system, however, nodes are held to a high level of standard. A node loses his vote power if he/she loses 3 votes, this is to ensure that votes are based on quality decision-making processes, not some rush low quality work. However, they are compensated handsomely for their work and time when their votes are part of the 60% i.e 3/5 of the total vote counted in the winning/final decision. This way disputes are transparent and carried out on a fair playground. Below are some examples of the voting and compensation process for both buyers, sellers and the nodes in a dispute situation.

A Natmin Node will earn tokens equal to 14% of the allotted transaction fee, they are compensated for taking part in the voting process by accessing supporting documents, but not for holding $NAT tokens. A Natmin Node will automatically receive tokens when the transaction ends successfully and the Node’s vote counted towards the success of the transaction.

Non-dispute transaction

The process for a non-dispute transaction is quite smooth. Transaction time is cut down compared to traditional escrow systems where a transaction goes on for several hours leading to several days, and at a fraction of the cost - about 0.5% for both buyers and sellers

The simplicity of using the Escrow service is as simple as the steps above. Again a great attraction of the platform is the simplicity of the procedures and process of initiating and closing transactions.

$NAT tokens

$Nat token is an ERC20/223 standard token using the Ethereum blockchain. It is the token that is used to power the Natmin ecosystem, used also for the transaction between buyers and sellers with security and ease of use as the main focus. It is unmineable and has a fixed amount of total supply with no further creation in the future, the only 2 times users have to get this token is in the Token Generation Event (TGE) currently ongoing and when the platform goes live.

The total supply stands at 400,000,000 tokens out of which 240,000,000 tokens are made available for sale during the initial token sales. 1 NAT = 0.00005 ETH. There is no softcap for the project since the team plans to move ahead with the project with the available funds at their disposal. After the TGE has completed, 70% of the unsold tokens will be distributed to Pre-Sale and Public Sale contributors as a bonus according to their contribution. 15% will be burnt and another 15% will be made available for purchase in the platform, thereby reducing supply as well as increasing token value.

Bonuses?

Yes, there are quite some attractive bonuses lined up for investors and airdroppers, however, due to their longterm value-focused strategy, the team have decided to vest bonuses for 180 days to avoid a possible dump of these bonus tokens. You may want to check out the referral bonus structure which enables active referrals to gain a 10% bonus off the purchase of their referred.

Anti-Terrorist/Money Laundering

To ensure best practices Natmin is in compliance with Anti-Money Laundering (AML) / Counter-Terrorism Financing (CTF) laws. In anticipation of being regulated under the AML/CTF Act, Natmin Pure Escrow PTY LTD will abide by all rules and requirements of the reporting body today. They would carry a Know Your Customer (KYC) process which records users name, residential address and date of birth.

Check out the details of fillings here and here





More Project Resources

Website : https://www.natmin.io

Email : [email protected]

Telegram : https://t.me/NatminPureEscrow

Facebook : https://www.facebook.com/NatminPureEscrow/

Twitter : https://twitter.com/NatminPE

Github : https://github.com/NatminPureEscrow

Medium : https://medium.com/natmin-pure-escrow

BitcoinTalk : https://bitcointalk.org/index.php?topic=5030305

Reddit : https://www.reddit.com/user/natmin

Bitcoin Forum : https://forum.bitcoin.com/post214197.html

