FriendsFingers and Smarter Contract Inc are partnering to integrate Smarter Contract’s contract enforcement service into FriendsFingers’ ICO crowdfunding contracts. This service will increase token buyers’ peace of mind by helping enforce an ICO’s milestone commitments, restrictions
on decisions made independently of token holders, reporting requirements, and pledged uses of funds. Smarter Contract ensures that token buyers are confident that an organization completing an ICO will be held accountable financially for failing to comply with its promises.
Smarter Contract will provide experts to resolve any dispute arising out of any ICO smart contract created by FriendsFingers through a system that is low cost and reliable. FriendsFingers will be able to launch any type of ICO, including true decentralized autonomous ICOs (or DAICOs), thanks to the reliable resolution of disputes involving their governance rules.
FriendsFingers is an open-source Decentralized Application (DApp) built on Smart Contracts running on Ethereum Blockchain. FriendsFingers helps startups and small businesses to start a trustworthy Crowdsale and issue an ERC20 Token with no setup costs and zero lines of code required. Using FriendsFingers, people can easily deploy an Ethereum Smart Contract that will hold contributor’s money until any given date or goal is reached. Depending on the outcome, the funds will either be released to the project owners or safely returned back to the contributors. Since the code is open and auditable, all of this is possible without requiring a centralized arbitrator, clearing house or having to trust anyone. You can even use the token you create to keep track of the distribution of rewards. Furthermore, Shaka (HAK), an ERC20 Token issued by FriendsFingers, will give holders rights to be active part on platform key decisions like in a Decentralized Autonomous Organization (DAO). You can check out FriendsFingers’ Whitepaper here.
About Smarter Contract:
Headed by blockchain veteran Vladimir Dubovskiy and contract expert Ashish Bhatt, Smarter Contract resolves disputes between the parties to smart contracts. Some smart contracts require third-party experts to resolve disputed facts. Suppose you enter into a smart contract with me to do some work. I say I finished the work, but you say I did not. Then we need a third-party expert to determine whether I actually finished the work. That expert determination is what Smarter Contract provides to smart contracts. Smarter Contract’s patent-pending technology maximizes the accuracy and minimizes the cost of dispute resolution. It can reduce costs to less than 10% of prevailing costs in the traditional judicial system. Smarter Contract’s services can be used in contracts for uses ranging from freelancing to selling high-value assets. Check out Smarter Contract’s Whitepaper here.