It has become a common practice in several business sectors to ask for a security deposit from the clients, predominantly in the real estate rental, accommodation, and car rental markets.
The current situation on the market requires clients to possess large extra funds for security deposits which they don’t have or can use for other purposes. At the same time, those security deposit funds are tied down unused for whole service period (in cases even longer) while cannot be used by neither party for more necessary or profitable purposes. On the other side, merchants are forced to take uncovered risks against clients to support client’s affordability.
The optimal solution would consider the primary needs for both parties — an affordability for clients and a need to lower the risks for merchants. An overall win-win solution for both sides would be a trustworthy 3rd party, which provides the guarantee that the client’s obligations to merchant will always be fulfilled. The described solution is exactly what Bailsman offers.
What is Bailsman?
Bailsman offers quick and easy blockchain-based security deposit solution for clients who don’t have the required sum or simply prefer to spend it on something else. Bailsman provides a third party guarantee to the merchant for a small monthly fee, which is paid by the client, instead of making the security deposit payment and tying up the cash.
Merchants can rest assured as there are no risks of not receiving the requested claim amount. Bailsman provides only guarantees that are 100% backed by licensed financial institutions or telecom companies and will be paid out despite the financial situation of the customer.
All the provided information and processes inside the platform are time-stamped and recorded by using blockchain technology. This allows the financial institutions and telecom companies to be sure that their decisions are based on the accurate information and merchants — that guarantees by Bailsman are really backed by the presented companies.
Bailsman Growth Opportunities
The growth opportunities for Bailsman are huge, as the global security deposit funds across sectors are estimated to be more than $1,5 trillion. Bailsman has already started to develop a working solution for the residential real estate industry, with market size over $300 billion. Bailsman’s future development is not limited by offering guarantee service only for residential rental market but includes plans to expand to other sectors as well. A similar field would be the commercial real estate rental market reaching globally over $500 billion (based on our estimations), the accommodation industry where the global hotels & motels industry’s total revenue is valued at $722.9bn in 2016, and the car rental industry with the global market size of about $58 billion, but expected to reach $125 billion by 2022 .
Token Sale Announcement
Shortly, Bailsman is planning to launch the token sale to improve the platform and accelerate expansion into new segments and countries.
The details of the token sale will be announced shortly. Meanwhile, we invite you to subscribe to or blog here and follow the project on these channels: Facebook, Twitter, Telegram, LinkedIn.
