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Help prevent home contractor fraud with selfkey

Using a contractor for home repairs can be a nightmare. Once I hired someone to finish my basement and paid 50% upfront. He did some work but never finished and I never got my money back. If we can have smart contracts using selfkey between home owners and contractors, it could prevent this from happening. The home owner can lock up funds to be paid and once the job is done, the home owner can sign that job was complete triggering the release of funds to the contractor. If there is a disagreement about the completion of the job, contractors and homeowners can give proof to selfkey certifiers who can make the judgement if job was completed. If it agrees job is done, the contractor gets the funds locked up in the contract. If not, then they will be given time to fix the deficiencies before getting the funds. If the job is not completed and contractor abandons the project, funds are returned to home owner. You could also use your ID services to prove that the contractor has the licenses, insurance, or other requirements before hiring or credit scores of the buyer. You could also use the system as a grading system that could help show how good of a job the contractors do, price comparisons, how often home owners/contractors have to use certifiers to prove/disprove work, etc.

  • Guest
  • Apr 20 2022
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