Bailsman Uses Blockchain to Simplify Security Deposit Procedure
Bailsman provides a solution for clients who either don’t want to or don’t have an opportunity to spend large sums of money for security deposit. Bailsman offers a third-party guarantee to a merchant for a 1% monthly fee paid by a client. Bailsman only provides guarantees 100% secured by licensed financial institutions or telecom companies. The team has already started to build the platform for real estate rental market. The ICO is needed for further technical developments and for expansion into new business sectors and countries. The team signed partnerships with Telia, Telenor and PwC Legal (to hold an escrow procedure). Long-term plan includes expansion to wide range of segments - from car purchase installment purchase to daily purchases - enabling a “buy now, pay later” strategy.