Post
Topic
Board Altcoin Discussion
Re: lohncontrol.com -a blockchain project which proposes another business model
by
lohncontrol
on 31/07/2019, 15:55:18 UTC


    What does WE DO NOT TOUCH THE MONEY mean?

     Under a lohn contract hosted on the lohncontract.com platform, the buyer has the obligation to immobilize in the smart lohncontrol contract of each transaction a number of tokens whose value will have to be equal to the amount that he has to pay to all parties involved in the contract.
     In this way, the money needed for the payments will be available from the outset in a smart contract and will be transferable as soon as the tasks of each party are met. The registration and execution of transactions will be secured in the blockchain by the Proof of Tasks consensus protocol.
     In fulfilling the tasks recorded in the smart lohncontrol contract, each party will receive payment for services or goods delivered in LOHN token that will be redeemed by the platform at market value.
     Imobilisation of payment tokens in the smart lohncontrol contract excludes the "third party" behavior of the platform by confirming the principle WE DO NOT TOUCH THE MONEY.