Natmin Pure Escrow began the Public Sale for its TGE (Token Generating Event) on Saturday, 1st September. Running from 1st September to 30th September, 2018, the Public Sale offers the purchase of Natmin tokens (NAT) that will be used to power the Natmin Pure Escrow platform.

 

Natmin Pure Escrow is a revolutionary application that provides Pure Escrow Services. Built on Blockchain Technology, Natmin is a decentralized application that utilizes Smart Contracts to complete transactions safely and securely.

Why does the world need Natmin Pure Escrow?

 

Online fraud is a monumental problem. Currently, it is estimated that cybercrime may cost the world almost $600 billion. Already an alarmingly high number, it is further predicted this will increase to $6 trillion by 2021. This is a truly chilling figure. With the world being hit that hard, how much money should the average consumer expect to be defrauded in that time?

Many people around the world get defrauded every single day in bad transactions: either you don’t receive anything, you don’t get what you paid for, or there is overpayment fraud when selling items that sees you losing not only what you sold, but part of your own money as well. Between January and July, 2018, there were 19,600 reports of buying and selling related fraud in Australia, with $8.2 million lost. Although many trading platforms have some form of fraudulent transaction protection, oftentimes it is not adequate, and many other transaction avenues offer no protection whatsoever. Isn’t it about time we had somewhere we can transact without the fear of losing money or goods or both?

 

Natmin Founder, Daniel Jaco Swanepoel, had this to say about why he founded Natmin Pure Escrow: “After my personal bad experiences with conventional escrow companies and discovering that family members had been victims of online fraud, I did some research and found that online fraud is a real growing problem.”

“Being an owner of a software development company, which also specializes in blockchain development, we explored the idea of a decentralized escrow service and found the idea to be appealing. We wanted to simplify the escrow industry and make it available and easy-to-use for the everyday person, who cannot afford to be scammed.”

How does Natmin combat fraud?

 

Natmin Pure Escrow is built on Blockchain Technology and utilizes Smart Contracts. But what does this actually mean?

Blockchain is a decentralized public ledger that is shared among millions of computers worldwide. It allows verified contributors to store, view and share digital information. Blockchain is also immutable; it cannot be deleted or changed. What this all means essentially, is that each transaction on the Blockchain has to be validated by every copy of the ledger worldwide. If one person tried to fraudulently change or delete a transaction, it would be rejected by the millions of other computers on the network as it wouldn’t match their details. This makes it extremely difficult, if not impossible, to hack into.

The use of Smart Contracts through the Ethereum Blockchain enables the entire transaction process to be automated. This means there is no waiting around for someone to check the paper work or wait for a response from all parties before the transaction can proceed. There is no lengthy back and forth when the terms of a contract is breached, the Smart Contract simply cancels the contract and the money is returned back to the buyer. There is also no chance of corruption; machines and programs cannot be bribed.

With the combination of Blockchain Technology and Smart Contracts, Natmin Pure Escrow is able to deliver much faster and safer transactions that can’t be hacked, and has no avenue for corruption or bribery. And with no middleman to contend with, the costs associated with any Escrow transaction are substantially lower.

The Natmin token will be used to power the Escrow platform, and will be used for all Escrow transactions. The Public Sale offers a tiered bonus token system, with early investors being rewarded with a higher percentage of bonus tokens. Currently the bonus is 35%.

To purchase tokens or to find out more about the project, please head to www.natmin.io, or check out our Whitepaper.