By @SimonCocking interview with Sergey Besedin, founder of DEScrow platform
Describe the company, How are you different?
Hello, let me tell you about DES. The project was launched 1 year ago, and it became my second blockchain project, after establishing Russian Blockchain Association. It all started with the understanding of the critical vulnerability lying at the heart of all ICO projects: smart-contracts can not evaluate the fulfillment of conditions from the side of the startup. Escrow agents that are usually involved in the campaigns to solve this problem, have the same flaw – human factor. At this point the whole idea of decentralized blockchain is shattered, since we still depend on the human factor. Decentralized space needs decentralized methods of regulation and our project is going to provide it. The platform for ICO investments DES includes an in-built instrument for decentralized escrow, by means of which investors can control their funds by themselves, in a decentralized manner. DES will be first in the world project to guarantee the independence of escrow and the only decentralized solution for the transparent and fair use of funds, once the crowd sale is over.
I just published “Decentralized Escrow has a rating of AA+.” https://t.co/EQ6QO1C2Tf
— Descrow (@Descrow3) September 2, 2017
Why will the company/product succeed?
Our project completely eliminates the third-party (escrow agent) problem with the help of blockchain and smart-contracts. For the first time, investors can be insured against 100% losses and fraudulent ico-projects. DES platform provides investors with the opportunity to participate in the life of the project they trusted their money. If the majority of token holders decide that the project does not fulfill its obligations, they can vote to stop further financing and save part of their funds. This is better than loosing all, in case a startup decides to make off with the money, isn’t it? This instrument is beneficial for startups too. Implementation of a decentralized escrow mechanism in the ICO-campaign will level up confidence and loyalty from the side of the investors.
Where are you located?
We have an international team, scattered around the world. Most of us are located in Moscow, while the others work from Bangladesh and China.
When was the company launched?
The company was launched in 2016, when a group of like-minded people started to make an idea come true.
I just published “How ‘Decentralize Escrow’ Will Make An Impact on the Global Crypto Economy” https://t.co/3LXVuiBTvK
— Descrow (@Descrow3) September 1, 2017
What were your biggest victories to date?
To my mind, our biggest victory by now, apart from the product itself, is our team of devoted professionals, who work hard to make the ICO market a healthier and more reliable place.
We set goals and achieve them. At the moment we are working on a range of agreements with startups who want to launch their ICO-campaigns on our platform.
What type of people (market segment) are you trying to attract to your product?
Our project is designed to bring clarity and transparency to the process of ICO-funding, which means it will be in demand at the market. Our potential users are both investors and startups from all over the world.
What advice would you give to others who would like to build their own business?
If you want to run your own ICO-campaign, you may want to consider our platform as a solution, as it will increase your chances for your target goal. Stay open and honest and be prepared to work hard!
Tell us about your team?
We have very professional and ambitious team united by the common vision of the development of blockchain-world, where will be no place for scam and fraud. We have specialists in blockchain and cryptology, PR and marketing , strategic planning and analysis and we are growing.
What are your long-term plans for your business?
One of the key features of our project is that it allows users to add different functional abilities to their model. Apart from decentralized escrow and platform for ICO, in future perspective we are going to develop such functions as rating, scoring, integration with other existing crowdfunding platforms, such as: Kickstarter, Boomstarer and others, voting and more.
What else would you like to add / we should have asked?
In the last year we witnessed a huge growth of the investments in crypto-economics, this year the volume of investments is going to be even higher. At the same time, many experts claim that only 10% of all blockchain-startups are capable to build their product.
As the crypto-economy develops and the market grows, the demand for
reliable investing tool, such as DES, will grow as well. This week we have launched our pre-ICO campaign, and if you also want to make an ICO -world a safer place, than you/re welcome to take part in our pre-sale.
How can people reach you?
If you are interested in the details of our project or have any questions, you’re always welcome to reach us in our Telegram channel, on Twitter, in Slack, check our progress in our blog on Medium or join our group on Facebook.