DND - Deal NoDeal

Plada Technologies

Dec 28, 2021

13.4 MB
File Size
Android 4.4+
Android OS

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About DND - Deal NoDeal

Deal NoDeal is a group buying facility.

What Is Deal NoDeal?

Deal NoDeal is a Secure BlockChain based Smart Contract solution which provides a group buying facility with the below features

- Savings

- Transparency

- Security

- Hassle-free

- Proper Fund routing

How Deal NoDeal Works?

This platform allows anyone to create their deals/ bulk offers from a dealer for group buying purposes. Take an example of the following :

"Amol is an individual who wants to avail of pest control services for his home. Amol

visits a dealer named Nikhil, who quotes Rs. 3000 as his fees for individual Service. Amol offers ten people in the group to avail of the same services and requests Nikhil to quote the group's price. Nikhil is ready to charge Rs. 2000 for the group buy provided the nature of Service remains the same, and the location is also in the same vicinity. Amol is confident that he can get ten people from his building/ Society/Friends/ family who would like to avail

of the same Service.

Amol then places this deal on Deal NoDeal platform by sharing the deal details, "Save Rs.1000 by buying together". Amol invites more than 10 People in the agreement. Nikhil is added as a dealer for this deal. Everyone participates in the agreement by paying Rs. 2000 upfront thru UPI Payments. This money is parked safely in a bank (Trustee) account (Not yet transferred to Nikhil). The deal will only go through (Bang On) when ten people participate in the agreement. Nikhil will execute the order/ Service and get individual money once he completes the work. E.g., Amol, Shyam, 10 participants participate in the deal.

Nikhil completes Amol's order post, which on Amol's confirmation Rs. 2000 is credited to Nikhil's account instantaneously. This continues till all ten orders get fulfilled. In this case only the dealer gets to view the transactions and the deal details.

Suppose less than 10 people are opting for the deal, then it will be Nikhil's call/ decision to complete or call off the deal. If Nikhil calls off the contract, the money will get returned to participants instantaneously.