RxEAL is a real life solution for rental markets – it is a platform for secure deposit storage on Ethereum blockchain, providing a decentralized dispute resolution, with main focus on real estate and automotive rental markets worth hundreds of billions EUR combined. RxEAL will also be available for other industries that demand trustless fund storage and fair dispute resolution.
Within the RxEAL platform users are able to generate smart contracts based on terms both parties have agreed on. The contract will ensure that the deposit amount is stored securely on the Ethereum blockchain throughout the course of the agreement with no possibility of unilaterally changing the contract terms or accessing the funds. In the event of a dispute regarding the final split of the deposit, RxEAL will provide a decentralized and independent arbitrage conducted by qualified members who will earn RXL tokens for resolving the disputes.
We believe that RxEAL is a solution for eliminating a growing number of fraud cases in rental transactions associated with unfair withholding of funds from the security deposit at the end of the rental agreement by providing an interface to engage in these activities using smart contracts. Not only does RxEAL solve the aforementioned problem, it also provides much faster deposit return rates and cost effectiveness compared to current offchain solutions. On top of that RxEAL may help existing rental companies to add value to their rental products, thus becoming more attractive for clients, consequently fueling business growth by using the latest technology.
RxEAL solves trust issue and replaces costs with value!