We have previously learned How RxEAL is Solving One of the Rental Economy’s Biggest Headaches. In this article, we take a more detailed look at exactly how RxEAL is changing the face of security deposits in the rental market.
Why RxEAL Exists
CEO Dmitrijs Orlovs describes RxEAL’s aims:
RxEAL aims to solve the high rate of security deposit disputes with blockchain technology. We provide a blockchain-based platform on which users can create smart contracts in a simple way. The immutable blockchain-based smart contract technology eliminates the possibility of breaching the contract terms.
Also, security deposits no longer have to be handed over to an unknown lessor, because the funds are securely stored on the Ethereum blockchain. This solution provides equal control over the…