Blockchain-based Escrow Service for Wholesale Telecom carriers that GUARANTEES payment in FULL and ON-TIME
Carriers will enter into a TESS SMART CONTRACT, whereby the terms are represented programmatically and are immutable
TESS tokens will permit the holders to participate in the maintenance and support of TESS network
All TESS SMART CONTRACTS will be funded and paid for with TESS USD MINUTE-TOKENS (MUSD); unlimited supply
Advantages Over Traditional ESCROW
SMART CONTRACTS are immutable.
Programmed terms trigger automatic payments.
24/7 Worldwide Fast payments.
(minutes, not days)
No fees to receive payments.
Will permit cost-effective interim payments.
Invoices issued automatically as per the terms of the smart contract.
All contracts and transactions are recorded on the semi-public
(viewable by verified telecom carriers) blockchain.
No need to bear the cost of insurance or dispute resolution
If a customer is unsatisfied, or finds a better rate/quality from another supplier, unspent tokens can be unlinked (unencumbered) at any time, free to apply to another telecom contract/project.