Blockchain Smart Contracts automate contract creation and execution and eliminates (substantially minimizes) the need for third parties required to create contracts and manage disputes. nikoways uses Ethereum Blockchain based smart contracts that allow the users to rapidly negotiate and create contracts.
Smart Contracts are at the heart of nikoways and they provide these benefits to the users:
Our platform will make Blockchain and Smart Contract technologies mainstream and more usable for day to day business activities. nikoways platform has the potential to be used by members of various ecosystems around the world. nikoways provides a secure, decentralized, and autonomous solution that brings buyers and sellers together.
Terms and conditions are agreed by all the parties and converted into software program.
Data is constantly monitored and code automatically executes based on triggers.
After the contract is successfully completed, the value (e.g. payment) is automatically transferred.
The value transfer data is written into blockchain and can't be mutated (Proof of Existence).
nikoways Blockchain platform uses Ethereum smart contracts to drive each project. The smart contracts are automatically executed as per the triggers defined in the contract and payment is automatically made upon the successful execution of the project.
Nikoways Blockchain based Project Management.
nikoways uses smart contracts to instantaneously create escrow and make immediate payments.
The benefits of this approach is that payments are secure and the providers don’t have to waste valuable resources to follow up on payments and get paid immediately when the work is completed.
Once the work is completed and approved, the money will automatically be transferred from the escrow or customer’s account to the service provider.
The project value will be stored in the contract at the time of project creation.