It has become common practice in several business sectors to ask clients for a security deposit, predominantly in real estate rental, accommodation, and car rental markets.
Bailsman offers exactly this - a quick and easy blockchain-based security deposit solution for clients who don’t have the required amount of money or simply prefer to spend it on something else. 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.
Growth opportunities for Bailsman are huge, as global security deposit funds across sectors are estimated to be more than $1.5 trillion. Bailsman has already started to develop a platform for the residential real estate industry (a market size over $300 billion) and is holding a token sale to improve the platform and accelerate expansion into new segments and countries.