Contractium | Make your Digital Contract – ICO review

As the name suggests, it happens to be a decentralized platform, allowing individuals and companies to make digital contracts. One of the greatest advantages is that it gets rid of all the messy paperwork required in traditional deals where contracts are required. The founders and pioneers of the venture have a very straightforward ideology as they all believe that blockchain will be incorporated in all domains in the near future. Since contracts are the basic demands for every deal, moving them on a blockchain does not only eliminates paperwork but ensures that none of the records is editable for a fraudulent purpose. 

The Solution

Basically, they are offering 4 main components in the system, which are listed as follows:

1. Crypto reward system 
2. Crypto payment gateway
3. Smart contract creation
4. Token issuing

So, it is pretty noticeable that they have a strong business model and the scope of monetization is quite huge because, in the future, every second industry and deal makers will require smart contracts for efficient and reliable processes. 

It is worth noticing that this Dapp runs on the ERC20 token and regardless of all the technicalities described here, it is fairly simple to use. Even if you happen to be a newbie, the navigation is incredibly friendlier than most of the competitors. 

Read our Article on Eloncity | A Decentralized Power Transformer Ecosystem

Future Measures

Since Contractium is a young project and is still striving to add plenty of features in its arsenal, we have observed the following two future measures described in their whitepaper: 

Token issuance – this will attract a significant number of investors as they will be offered some kind of incentives. With the rise in adoption rate, there will be a reasonable Return on Investment as well.

Integration with 3rd parties – of course, a token issuing platform must offer wallets and payment gateways otherwise the business model would just collapse.

Use Cases

If you have understood the nature and application of the project, you might also have numerous relevant use cases in your mind. But here, we will discuss the most immediate ones.

Freelance

As of yet, there is a concept of Escrow in the freelance marketplace and if people work outside these renowned sites, there are often payment frauds. With the help of Contractium, two individuals and even entities will be able to create an accord and work without any doubts about potential financial losses.

Online Game

Gaming studios often face a lot of trouble when it comes to the distribution of bonuses. With the help of smart contracts, both parties could enjoy a seamless experience and gamers will be rewarded with CTU tokens. After the integration of 3rd party payment gateways and wallets, all payments will be automatically deposited in your wallets after reaching a minimum threshold, with zero or minimum fee deduction.

Advertising

In order to streamline the dealings and contracts between agencies and marketers, there will be contracts in place. Users will be paid in CTU tokens and their progress will also be monitored on the blockchain, hence eliminating the likelihood of doubt.

Project's Links:

Website
Bitcointalk Thread
Whitepaper
Facebook
Twitter
Medium
Youtube
LinkedIn
Telegram

Auther's Details:

Bitcointalk Username:
Raihan Shakeel
Profile Link
Eth Address: 0x3c811A667C9A129911c7dad7238194C5F49b5cB5