Several parties do not trust each other in the sale and transportation of a physical product.
What it does
Through an escrow system and through Chainlink’s oracle and api system trust can be build so a transaction can be executed for a sale of a physical product and delivery can be done. Payment can be made after delivery
How we built it
We built a smart contract which managed the life cycle of a delivery process and introduced an escrow mechanism to let trading parties pay. The escrow smart contract represents the commitment of payment between buyer and seller. We introduced Chainlink's oracle node and built an external adapter to bridge on-chain and off-chain data world. We built a API of a transport company which exposes pricing information. This information is used by the escrow smart contract.
Challenges we ran into
The great challenge was to figure out how Chainlink products work.
Accomplishments that we're proud of
- We learned a lot about smart contracts and the interactions between on-chain and off-chain world.
- We are proud for having mastered the workings of the oracle network of Chainlink.
- We turned an idea into blockchain and smart contracts and we were able to transact on test net.
What we learned
- How we can use blockchain technologies to solve real life problems such as supply chain and delivery processes.
What's next for Transaction Delivery Service
- to complete the chain of interaction with a frontend solution and iOT devices.
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