Payment when we both agree?
Alright, then.
Safely transact with anyone through peer-to-peer escrow agreements secured with collateral and without middlemen.
Benefits
Escrow for Everyone
When you use Alright you can:
Take back control
Be in command of your deals by setting the terms yourself
Cut out the corporation
Save money on marketplace fees by transacting with people directly
Deal with confidence
Avoid the risk of fraud, non-payment, and having your time wasted
Process
How It Works
Paying through an Alright escrow agreement is a simple three-step process.
Agree Your Terms
Agree your payment terms with a security deposit and lock in the deal together.
Do Your Thing
Finish the job, send the stuff, and do whatever you agreed to do, making sure everything's alright.
Complete Your Deal
When you are both satisfied, send the payment forward and release the collateral.
Theory
Why It Works
When both people put in a security deposit, they have a strong incentive to act honestly and complete the deal as agreed.
Self-selecting for honesty
Only people intending to follow through are willing to lock up a security deposit, so bad deals end before they start.
Aligned incentives
When both parties lock in collateral that equalizes their skin in the game, they have mutual interest in completing the deal
Payment on agreement
Only when poth people satisfied is payment and collateral released, and issues can be resolved through compromise.
Technology
Powered by Algorand
Alright puts the promise of blockchain in your pocket by giving you access to a cutting-edge distributed ledger
Accessible from anywhere
The Alright app is a web application that runs in your browser or can be installed on your home screen--no app store required.
Escrow via smart contract
Deals are made through a smart contract that holds the payment and collateral until both parties agree to release them.
High performance
Algorand's blockchain confirms transactions in under three seconds with instant finality and 100% network uptime.
Open cource code
The on-chain application is open-source and can be reviewed by anyone to ensure its security and reliability.
Use Cases
When To Use It
Peer-to-peer escrow can take the risk out of remote or risky deals. Anytime you want to be sure the other party will hold up their end of the deal, use Alright.
Ethos
Our Guiding Principles
These ideas guide our work to improve people's lives by creating financial tools that are more secure, fair, and efficient.
Honesty
Secured agreements align people's incentives to act honestly and deal fairly with each other. With skin in the game, both parties are motivated to fulfill their obligations and act in good faith.
Agency
With the right tools, people can transact with each other--and reach compromises on issues--without needing to trust a middleman or pay expensive fees for corporate guarantees.
Accessibility
Peer-to-peer escrow agreements on blockchain unlock a more inclusive financial system that is open 24/7 and confirms transactions in seconds at a fraction of the cost of traditional systems.
Transparency
The smart contract which enables decentralized escrow deals is open-source because transparency matters in an opaque world. We invite you to read and verify the code for yourself.
Community
Join The Movement
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Want a preview?
The Alright app is available on Algorand TestNet for you to preview and test!
Hop into our socials to connect or ask questions.