Tedsig aims to provide escrow services for cryptocurrency transfers to enable trustless transactions of higher values. Their goal is to combine legal and technical expertise to fill the gap left by conservative traditional financial institutions. They offer various escrow options with different levels of responsibility and security. For example, in a real estate transaction involving bitcoin, Tedsig would create a multi-signature wallet, oversee the bitcoin transfer upon signing contracts, and release the bitcoin once the property registration is complete. Tedsig seeks to make large cryptocurrency transfers fast and legally compliant without relying on banks or exchanges.

1. secure cryptocurrency transfers
info@tedsig.com
december 2018
TEDSIG:

2. Problem definition

3. Problems
“Trustless” = cryptocurrencies are designed to be trustless,
eliminating the need for trusted third parties
Cryptocurrencies do not solve the need for trust in business
transactions involving the transfer of other valuables (real
estate, commercial merchandise, ….)
Finality of transactions create new risks

4. Problems with higher value transfers
Cryptocurrency sale for fiat currency (for example OTC trades)
Cryptocurrency in exchange for real estate, commercial
merchandise, …
Who pays/delivers first?

5. Existing solutions in the world of
traditional money and cryptocurrencies

6. FIAT - Attorney/notary/bank escrow
Using trusted intermediaries for satisfying transfer conditions
and trade settlement
Transfer is initiated after some condition is met (for example an
escrow account is funded)
Intermediary settles the transaction after fulfilling contractual
requirements

7. FIAT - Letter of credit, collection, pledge
These are usually banking services, bank provides assurance
for one counterparty
Letter of credit: the issuer's obligation to provide the
beneficiary a payment on the client's request
The goal is to improve certainty of payment (guarantee
function, payment function)
Example: A bank guarantees that they will pay the sale price
after receiving documentation of successful delivery of goods
or services

8. Cryptocurrency - intermediaries
OTC (over the counter) merchants and cryptocurrency
exchanges
Usually only sale of cryptocurrencies

9. Tedsig: an escrow for cryptocurrencies

10. Goal
Make use of experiences of a law firm (Blockchain Legal) and
an IT security company (Citadelo)
Combine the services of attorney escrow service and technical
experience with securing cryptocurrencies
Fill in the market gap caused by conservative actors (banks,
attorneys, notaries)
Offer partially decentralized solution and also a centralized
solution (depending on customer’s needs)
Transfers of larger amounts of cryptocurrencies in business transactions

11. Use-cases
Exchange of cryptocurrencies (one time and repeated)
Real estate transactions involving cryptocurrencies
Sale of valuable goods
Down payments (advance) for products and services
Short-term and long-term cryptocurrency storage
An additional security for storing cryptocurrencies
Part of inheritance process
International transactions involving cryptocurrencies

12. Basic commercial options

13. Options
We offer different options of the service with differente
responsibility and risk
More robust solutions are less flexible and costly but provide
better security
Simple solutions involve customers more
The role of tedsig is from consultancy (support) to custodial
FIAT currency storage (if required) using attorney office

14. Options
1: Transactions under supervision of tedsig, private keys of
tedsig are used only in case of disupute
2: Transaction with obligatory use of tedsig and cooperation of
one of the parties
3: Transaction fully operated by tedsig

15. Example - real estate transaction

16. Real estate transaction for BTC
1) Creation of multi-signature wallet and satoshi test (low-value
transfer)
2) Fixation of the BTC amount
3) Signing of a legal contract for BTC transfer
4) Funding the multi signature address
5) Signing of real estate sale contract
6) Registering the transaction with the country’s real-estate
registry
7) When the registration clears, the transactions are cleared
from the multi-signature address
1) to 6) can be done on the same day

17. Advantages
The transaction is independent on the banking system
Transaction is fast, including complete legal documentation
Practical use of Bitcoin
Direct contract between counterparties, without the need of an
exchange

18. Questions?

19. Thank you
info@tedsig.com