By @SimonCocking we spoke with Shovon Hossain to learn more about why he got involved with the DEScrow platform.

Business Showcase: DEScrow platform

Tell about yourself and your background

First of all, I would like to convey my heartfelt gratitude to Irish Tech news and Simon Cocking for inviting me to talk about Decentralised Escrow Development in Asia.
I am Shovon Hossain and I am from Bangladesh. I am a Chartered Management Accountant, Web developer and a Crypto Analysts with years of experience. I have also served as a Coordinator and Computer Trainer in Gono Unnayan Bikash Kendra (NGO). Currently, I am the CEO and Founder of Perhalic. Perhalic, being the first ever Cryptocurrency website in Bangladesh, is proud to work as the Ambassador of Humaniq Bangladesh, Representative of Descrow in Asia and as an advocate for Dascoin (A fintech company). Perhalic is all about finding and reviewing the upcoming potential projects and to help them thrive in Blockchain Community. Our website is going through major maintenance at present and we are coming with loads of new feature shortly.

Why is this project interesting to you? Where do you see its potential?

Decentralised Escrow (DES) being the first-ever Decentralised escrow platform for ICO implementation works to solve the issues related to ICO projects, such as:

(1) Distrust in startup projects;
(2) Lack of confidence in escrow (due to the human factor);
(3) Lack of control over the use of invested funds;
(4) Absence of user-friendly interface for interaction with startup project in the process of the development of the final product.

While Escrow is an excellent solution, Escrow agents that are usually involved in the campaigns to solve this problem, have the same flaw – human factor. Descrow offers to resolve the trust issues by eliminating human factor and offering majority voting where the decisions of financing will be taken by the investors. DES enables the investor to have control over ICO and guarantees financing of startup projects. It also offers protection to avoid financial losses. It enables investors to check the true intentions of project-makers and to protect investors from loss of the income in case of force majeure circumstances. And this is what interests me the most that they help you understand the true nature of a project before you decide to pour your money into it.

How did you get to know about the project?

Perhalic is all about scouting upcoming potential projects. We were going through upcoming projects and came across the Decentralised Escrow that claims themselves to be the first-ever Decentralised escrow platform for ICO implementation. We then contacted Mr. Sergey Besedin who helped us to gain more information about his upcoming project known as DES.

Making blockchain investments less risky, Sergey Besedin, founder of DEScrow and Russian Blockchain Association

Would you use this tool if you want to start your own ICO campaign?

All thanks to the Blockchain technology, many potential multibillion dollars companies are being born. But, it doesn’t and does not exclude emergence of unscrupulous projects. As a result, many fraudulent projects are also on the scene who plan to flee away with the funds straight after the ICO period is offer. Many investors are losing their trust on ICO projects and do not want to risk losing their money investing on ICO projects. As a result, many potential startups are dying even before their inception. Escrow is an excellent solution to issue this problem but it has also major drawbacks, namely, human factor.

Decentralised Escrow, on the other hand, offers to fix the issues associated with trust by helping define the rationality of further financing via general voting of investors at different stages of project implementation. It will help them have clearer understanding of the intentions and movements of ICO projects and will also allow them to play a big role by taking part in voting to decide next steps for financing. In this way, the investors and those who are interested will have little to no problem trusting the project and more people will be able to invest without the risk of losing their funds. For these reasons, I would say that I would use DES tool if I want to start my own ICO Campaign.

What are the perspectives of DES on Asian Market?

Asian Market is one of the biggest markets in the world comprising of 50+ states and more than half of the world’s population. Asian Market is already proving its capabilities of becoming the biggest Cryptocurrency market and if capitalized correctly, Asian Market has the potential to play a major role for the success of any Blockchain Projects.

Although countries like China has already put a ban on ICO projects, they did it because of fraudulent and unscrupulous projects who scammed people into giving a lot of money. DES can solve this issue since DES has the right tools to help people determine the true nature of a project before investing their valuable money and enables them to decide where and how their money will be spent in the project. If DES can be promoted largely on Asian Markets, the numbers of fraudulent and unscrupulous projects will simmer down since people will be able to detect who is who and will not put their money into those scams anymore.

In general DES will help to restore cryptocurrencies capital market and crowdfunding sphere. – It will not allow to grow in number of unscrupulous projects, using for their greedy purposes: on the one hand, ?nancial illiteracy of the population, lack of in-depth blockchain technology knowledge; and, on the other hand, growing in geometric progression interest to the crypto industry, where, in most cases, an ordinary investor neglects basic security and accepts in faith some pseudo – experts’ statements.

If you would like to have your company featured in the Irish Tech News Business Showcase, get in contact with us at [email protected] or on Twitter: @SimonCocking

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