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Board Announcements (Altcoins)
Re: 🚀[ANN][ICO]Mainprise.io - Peer-To-Peer (P2P) Bail Payments - BAIL Tokens [NEM]
by
Seuwyes
on 16/07/2018, 16:06:49 UTC
what will be the fee structure of this platform?

We plan to implement a risk scoring system which tries to determine the likelihood of 3 things occurring if the bail is paid and the defendant released. We want to determine if the defendant is likely to fail to appear to court, if they are likely to commit another crime or if they are likely to commit a violent crime if released. The fees will be based on the risk. The plan is to keep the fees less than 3%. Token holders will determine which bail payment and the amount based on their tolerance for risk, the type of crime, the location, the amount of bail, etc. Take a look at the youtube channel http://youtube.com/c/mainpriseio for a couple of quick explainer videos.

There are other fees such as fees to participate in the prediction market, fees to utilize the risk scoring tools for other uses, fees to access data, fees for using the bail token kiosk, etc.

i saw your video. I don't get it. to whom payment will be done for the bail ?? to govt ?

When a person is arrest and provided bail. The bail payment is needed as "insurance" so the person will show up for their trial. When the person shows up to court for their trial, the bail payment is returned regardless if the person is innocent or guilty.

So the payment is made to the "government/jail/court" and it's returned back to the platform at the end of the case. And the tokens are returned back to the token holders.