Web3 is sweeping across industries like a whirlwind, transforming everything from avant-garde fashion to seamless digital payments. But there’s a snag: lingering fears of fraud and the absence of legal safety nets have some people hitting the pause button. Fear not, a groundbreaking solution is on the horizon, merging the best of both Web2 and Web3 to make decentralized transactions secure, accessible, and legally protected.
Enter Zabbo! An innovative platform that alleviates these concerns by bringing together the security of escrow accounts, the ease of payment apps, and the legal protections of traditional courts. Zabbo aims to make transactions more secure, accessible, and legally binding for users navigating Web3 environments. So let’s see how it works:
Zabbo is a decentralized app (Dapp) that uses individualized smart contracts to prevent intermediaries from accessing your funds, making transactions safer and more reliable. If a dispute arises, Zabbo’s patent-pending tools help parties resolve their differences quickly. However, if an agreement cannot be reached, the platform’s integration with Jurat technology allows either party to take the dispute to a U.S. court with the smart contract automatically enforcing the court’s orders on-chain — ensuring each side’s legal rights are upheld without involving third-parties.
For business deals, the platform guides the parties through the process of forming a contract, which includes funding, delivery, and payout dates, as well as any additional terms. The smart contract locks the payment in escrow, protecting both buyer and seller throughout the transaction process. This technology allows for safe payments for freelancers, businesses, NFT holders, and token traders.
Now why do we bring up all these features? Not only is Zabbo the one-stop solution for all commerce, these exact tools are designed to support the digital art movement as well, specifically providing legal rights for artists and collectors alike.
Take JTC Ordinals — the first digital assets with baked-in legal rights — Zabbo specifically supports the buying and selling of these assets while allowing for legal enforcement of licensing, royalties, and IP protection. As covered in our last article, Digital Art + Legal Rights = Valuable NFTs,
“Intellectual property (IP) is an important part of the Web2 world with the IP of top brands being worth billions of dollars (think Gucci, Nike, or Ferrari). If Web3 does not take IP value and its protection into account, the digital image is worth a lot less. The most valuable thing those PFPs have is their intellectual property, and without it, collectors would never pay top dollar.”
Jurat technology upholds this IP value and allows users to safely trade ordinals in a peer-to-peer fashion using Zabbo. Alleviating many of the pain points that come with traditional NFT trading. Furthermore, it opens up a suite of opportunities for licensing NFTs for business use or enforcing royalties on-chain.
Ordinals offer a wide variety of licensing options such as personal, commercial, or the ability to create custom licensing, all while using Zabbo technology to provide the enforcement, transfer, and ability to conduct business around the agreement. This develops a new market for buying and selling IP rights to digital assets while having the legal protection to do so. Something entirely new to Web3.
While this technology is not yet released, the potential for products to be built with legal remedies opens up a new set of possibilities for Web3 tools. Zabbo is sure to be at the forefront of this revolution by making it easier and safer for users to navigate the decentralized world of Web3 while maintaining the legal protections they’ve come to expect in the traditional Web2 space.
To be one of the first to test the platform sign up at zabbopay.com.
