In general, as far as I understand the main rate, developers of this service are doing for labor migrants who do not have the opportunity to use traditional services to transfer money, right?
As far as I understand it, that's exactly what the developers are counting on.
Only I do not understand how all the transactins will guarantee their success?
I think the main idea is based on mutual trust, is not it? And there is no guarantee that it will not be implemented before.
All the users of AraneoBit system will pass several basic levels of verification:
● they will submit a photo with their passport;
● they will need to attach their bank card (several bank cards can be attached);
● they will have to submit their driver’s licence (if available);
● they will provide links to their social networks;
● they will sign a consent to personal data processing;;
● they will sign a formal offer that AraneoBit company does not bear any
responsibility for the location where the meeting will take place.
Depending on the jurisdiction of some countries, the list of the documents can change.
AraneoBit system will automatically block all unscrupulous participants of the transactions after the first failed order.
To store the information about the users we will sign a contract with the service of personal data storage. Also all the information about the transactions will be recorded in blockchain.