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nModulo

India, Goa
Market: Internet and IT, Consulting, Education, training, Blockchain, Crypto currency
Stage of the project: Prototype or product is ready

Date of last change: 14.09.2022
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Idea

ChainPact will enable a world of agreements, and business processes on blockchains. Introducing peer to peer gig contract where parties can safely conduct business, while having an escrow guarantee

Current Status

We are in the pre-alpha stage of the software. We will be releasing it by mid-September as an MVP on the testnet. Since we want to ensure a certain minimum security level, we will be opening to the wider audience after initial testing

Problem or Opportunity

Peer to peer agreements for online gig work deliveries have to rely on a trusted digital escrow
Gig marketplaces do let buyers and sellers execute orders, but charge a very high rate of commission (20-30%)
Cross-border payments for digital gig workers often involve too many intermediaries, and is still a challenge
Web3 needs a secure platform for creating p2p smart contracts for business agreements.

Solution (product or service)

ChainPact Pro: an all around system that lets you manage your pacts, get real-time data, insights, notifications etc. across all blockchains. It also allows deployment of pacts on several private blockchains including the ones by Hyperledger and Consensys.
Pacts will be generic, but will also be customizable through an enterprise-engagement model and bring in operation revenues and support its development
Working with insurance protocols and third parties to provide insurance against
Smart contract hacks
Unresolvable disputes
Fraud
Critical loss of private key
Rogue arbitrators

Business model

We take the idea of straightforward conditions of typical business workflows and create opinionated smart contracts by creating: Pacts
The user connects their wallet, chooses a pact and deploys it to a selected blockchain
The pact can then be signed using wallets of other parties

Simple employment escrow contracts
A simple bond with worded agreement
Pacts or assets related to pacts can be collateralised
Multi-party trust
Plugin for legal contracts
The frontend is equipped with the bytecode as well as interface of these pacts to guide the user through its lifecycle
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