Case 1. Microloan receipt: lending or borrowing money
ChainPAD for protection of financial responsibilities/ ChainPAD for microloans/ ChainPAD for secure lending or borrowing money
ChainPAD will ensure security of financial responsibilities for individuals. Operating principle of the application is based on the main feature of blockchain: saving all transactions with no chance of changing anything in hindsight or without permission of all parties.
How it should work
User Bob can make an entry in ChainPAD app: ‘Lended 100 USD to Alice on May 17. Alice is to refund 120 USD to me by May 31’. Alice’s phone number and/or email address is available in the app, or Bob can inviteAlice via his QR code.
Via general smart contract, blockchain saves the note with the date of its making, geotags, photos and other possibly important details. Alice sees in the app on his phone that he was tagged in such note, and if all the data are correct, he presses ‘Sign’ button.
‘Solved’ in ChainPAD
After debt repayment, Bob chooses ‘Solved’ function in the app.Alice also confirms repaying the debt by pressing ‘Solved’. After both parties have pressed ‘Solved’, the note changes the status to ‘Executed’ and goes to the app archive.
One user can create such notes with different individuals at the same time. For this purpose, you only need the app installed by every participant of the transaction.
Case 2. Betting. Making a bet or entering sport stakes
ChainPAD for sports betting/ enter your sport stakes with blockchain
With the help of ChainPAD app, you can make bets or enter your stakes for sporting events, your favorite team match results or game total.
Blockchain will permanently save the data of your bets on a match, competition or Olympic Games.
How it should work
For entering a stake, you only need to lay down your conditions, create your prediction and invite another party to participate.
Bob can bet Alice on SKA winning from CSKA. Bob makes a note: ‘Betting 100 USD on SKA winning from CSKA in today’s match’ and invites Alice to participate. Alice sees the notification and invitation to participate in his smartphone. He can agree to betting conditions by pressing ‘Sign’ button.
Blockchain will save betting conditions via general smart contract. After the game, depending on the result, either Bob or Alice pays 100 USD to the counterpart and presses ‘Solved’ button.
One user can create such notes with several counterparts at the same time. You only need the app to be installed by every betting participant for that purpose.
Case 3. Road accident: European Accident Statement. Writing an immediate accident report without STSI
ChainPAD: blockchain based app for reporting an accident immediately without STSI representatives.
According to the European Accident Statement, drivers who got in a road accident can leave without waiting for the Road Patrol Service, but on a few conditions. They need to take photos of the accident to register the character of the accident and the condition of the vehicles and fill in a special European Accident Statement form. The problem is, no driver usually has this form at hand.
ChainPAD app helps to file documents and photos of the accident from the scene for insurance companies. All the parties involved in an accident, STSI employees and insurance companies can be sure that the form was filled in properly and the photos were not forged. Blockchain system will save all the data, files, document copies and photos.
How it should work
With the help of ChainPAD app, a driver can fill in a readable electronic European Accident Statement form, take photos of the accident and invite the second party of the accident to sign the documents. The second driver leaves his electronic signature in the app and thereby confirms that the photos are authentic and the form was filled in properly. Every button pressing is controlled by the smart contract. Besides, with the help of ChainPAD drivers can exchange the photocopies of their documents that they may need for insurance companies.
Thus, each driver will have a full set of documents necessary for insurance claim. For reporting a road accident with the help of ChainPAD, every party of the accident should have the app installed.
Case 4. Reporting a pothole
ChainPAD application for reporting/ claiming for a pothole
Bad road conditions, potholes and dangerous road sections are still a problem. This problem can be solved by collecting the data on every road section that needs repair.
With the help of ChainPAD, drivers can write a report on road condition and send it to STSI or ‘RosYama’ service. Blockchain guarantees that the information will be impossible to change until the problem with the road condition is solved.
How it should work in ChainPAD
To send a claim, the driver takes photos of the pothole, geotags them and makes an entry in ChainPAD app naming it ‘Pothole’. After that, the driver can send the claim to an STSI regional office or ‘RosYama’.
After repair, either subcontractor’s or STSI employee changes the status of the claim for ‘Solved’. Smart contract is tracking all the changes. The driver can see that his claim was processed and the road section was repaired. If that is true, the driver acknowledges the repair by pressing ‘Executed’ status in ChainPAD app. Or, if the repair work was unsatisfactory, the driver sends new photos and leaves the claim active.
Case 5. Freelance contract
ChainPAD application for making contracts with freelancers/ ChainPAD application for making contracts with contractors
Verbal agreement with a freelancer or other contractors cannot always guarantee that the work will be done in full and on time, and the contractor will not disappear after receiving an advance. For freelancer, verbal agreement does not always guarantee that his work will be paid as well.
ChainPAD app will help to create the contract between the customer and contractor. Blockchain will guarantee that the contract includes the terms agreed by both parties.
How it should work
To create a contract, customer makes a note titled ‘Task for freelancer’ where he describes the task, requirements, deadline and cost of the work. Freelancer receives the task, and in case the terms are suitable, they confirm their consent with electronic signature. After the job is done, freelancer changes the status of the entry for ‘Resolved part 1’, then the customer confirms that the job is done and transfers money.
“Financial security” with ChainPAD
ChainPAD app can offer ‘Financial security’ – a service with the involvement of a third party. In this case, a bank can be your financial security provider.
To let both parties of the contract be sure of the security of their money, after creating the task for freelancer the customer transfers the necessary sum of money to a ChainPAD contracting bank, and the bank keeps the money until the work is done. This function shall work as a guarantee for contractor that the customer has the money to pay for job.
After the customer confirms that freelancer has executed the contract, the bank transfers the money to the contractor. Both customer and freelancer can create such notes with different individuals at the same time. For this purpose, you only need the app installed by two participants of the contract.
More information on ChainPad.io