Prototype FIDUS Escrow V0.0.7
What is FIDUS - Escrow?
FIDUS is an innovative escrow system, that uses the blockchain technology (Stellar XLM), smart contracts and multisignature accounts to manage payments in collaborative projects. Its aim is to provide a secure, transparent, and efficient, building a solid layer of trust between all the parties involved. Learn how proteus.exchange and FIDUS Escrow integrate technology and human trust, based on quality standards ISO 9001 (IASAP-qm).
Operation concept:
Escrow Multi-signature
Guarantee secure payments and transparent.
Integration Stellar
Transactions fast and verifiable in Stellar.
Confidence Improved
Streamlines security in collaborative projects.
Platform Proteus
An essential part of Proteus Exchange for efficiency.
“Step by Step”
This guide will take you through the setup and execution of a contract of trust (escrow) using the prototype FIDUS. The process simulates the interaction between three modules conceptual: IASAP-qm for the configuration of the agreement, FIDUS Escrow for the creation and funding of the account on the blockchain Stellar, and PROTEUS UI for the validation of milestones and release of payments.
STEPS 1&2: Configuration of the Contracts Smart IASAP-QM
The Project Manager defines budget, deliverables and milestones of the project (REV A, REV B and Approval Client C), in addition to the conditions for payment on a template from Google Sheets. From now on, this template incorporates the principles of the escrow multi-signature in Stellar, the states of the payment and withholding of taxes (national and international).
STEP 3: Validation of Administrative and Contract Settings Smart
Deposit of the funds in the escrow account, followed by the Validation Administrative (VA) and Contract Settings Smart (HSC), with their respective states of payment (EdP), deadlines, and requirements multi-signature in the Stellar Network (Testnet).
STEP 4: Follow-up and Release of Fund in the Interface PROTEUS UI (for the monitoring of management of the contracts):
After the validation of each of the milestones by the undersigned designated (technical, managerial, and validator administrative), the contract smart FIDUS Escrow is self-executing installer, releasing the payments of each EdP.
Why is Stellar XLM?
Stellar (XLM), designed for global payments are fast and economical, offers native functions type escrow (multi-signature), settlement in 3-5 seconds and costs low (fractions of a cent). It is ideal for stablecoins (e.g. USDC, EURC) and now evolves with smart contracts (Soroban).
Podcast “Where we are heading:
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