Bailsman - a quick and easy blockchain-based solution for clients to exchange their security deposits for guarantees
Bailsman provides a third party guarantee to the merchant for a small monthly fee that is paid by the client, instead of making the security deposit payment and tying up the cash.
Merchants can rest assured, as there is no risk of not receiving the requested claim amount. Bailsman only provides guarantees that are 100% backed by licensed financial institutions or telecom companies, and will be paid out irregardless of the client’s financial situation.
Claims can be filed at any time with the press of a button and paid on first demand.
Manage your guarantee easily through the app, wherever you are.
Add other people as co-applicants if the credit rating is too low or to share the responsibility. This also allows the guarantee amount to increase.
You can use your guarantee anywhere just by having your ID with you. There is no need for registration.
The guarantee is available globally through service providers working with Bailsman.
Beside the fact that clients have full control over their data, it also provides an environment where all transactions are easily identifiable and traceable by all parties involved. Guarantee providers can be sure of who they are really taking the risk against, while merchants can be sure that guarantees are provided by trusted companies.
As a security deposit is only one form of a guarantee, Bailsman sets out to expand its services to provide guarantees for a much wider range of segments - from car purchase installment payments to guarantees for daily purchases - enabling the “buy now, pay later” approach.
Cooperation with third party service providers using acquired data is another possible course of action for Bailsman in the future.
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Moving the funds will be possible upon fulfilling the terms set forth in the Escrow Agreement in which case PwC Legal (as escrow agent) and Bailsman would release the proceeds from BAILS token sale.
A pioneer in Central and Eastern European investment for over 25 years, James has worked on Wall Street and in the City of London at some key investment banking companies. James has been advising government institutions and companies for more than a decade. Based on his broad experience in global and regional leading banking, he handles Bailsman’s relations with banks and financial institutions.
A founder of an asset financing company and an investor and an advisor at a payment solutions start-up and several others, Indrek has over 15 years of experience in financing. Holding a degree from the Tallinn University of Technology in Network Software and Intelligence Systems, Indrek runs Bailsman’s everyday operations and expansions to new markets.
As an entrepreneur with experience in soft commodities trading, Priit has a keen interest in finance start-ups. Having previously founded a consumer credit aggregation start-up, he is now focusing on developing Bailsman’s product and sales partnerships.
A partner and a head of the Banking, Finance Insurance Practice Group in the largest law firm in region, Reimo is an active member of the Estonian Private Equity and Venture Capital Association. Reimo holds a LLM from the University of San Diego, School of Law. At Bailsman Reimo manages legal and regulatory matters including relationships with central banks and other financial services regulators.
Specialized in financial IT solutions developments, Oleg has more than 13 years of technical experience. His extensive experience in building up solutions from stock exchanges to consumer finance companies brings deep knowledge for Bailsman’s build-up.
Having previously managed several event and marketing projects in Europe, Kadri’s experience in marketing and project management is used to further product development and marketing at Bailsman.