RxEAL is a platform for trustless and safe security deposit storage on the Ethereum blockchain. It provides decentralized dispute resolution with the main focus on real estate and automotive rental markets valued at hundreds of billions USD 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 no possibility of unilaterally changing the contract terms or accessing the funds. In the event of a dispute regarding the final division of the deposit, our platform will provide a decentralized and independent arbitrage conducted by qualified members who earn RXL tokens for resolving the dispute.
RxEAL blockchain solutions are easy to integrate into the existing company workflow or to use by an individual. In conjunction with advantages over traditional security deposit systems, this makes RxEAL the accelerator for blockchain technology mass application.
Compliance made easy
Security deposit is held in smart contracts preventing comingling of funds and eliminating the need to open separate rental operating accounts. Deposits can be tracked independently making bookkeeping a breeze.
Interest accrual simplified
Many jurisdictions require that a landlord collect interest on behalf of the tenant. Each smart contract can accrue its own interest on behalf of the tenant as per jurisdictional requirements.
Disputes replaced with technology
6 billion EUR are annually lost due to disputes in UK alone. We replace legal fees with smart contracts and a decentralized dispute resolution. Disputes are resolved quickly by independent and qualified arbitrators within the RxEAL platform.
Smart contracts solve the issue of trust involved in handing over security deposits to the other party for storage. The smart contract will ensure that the deposit amount is stored securely on the Ethereum blockchain throughout the course of the agreement.
Deposit funds are stored inside the smart contract during the rental period or until mutually approved action is initiated with no ability for lessor to unilaterally access the deposited funds.
Security deposit as an asset
Cryptocurrency deposits could be potentially worth many times more than initially deposited, however if you prefer the stability of a fiat currency and still want to benefit from the blockchain technology, RxEAL has you covered with the smart deposits in rapidly growing ETH or stable Dai by Maker.