SmartPayTrust

Decentralized Escrow Service

Project Presentation

SmartPayTrust is a decentralized escrow service deployed on the Sepolia test network. This project was designed to secure transactions between two parties using blockchain technology, while offering the possibility of intervention by an arbitrator in case of dispute.

Important Note

This project is currently deployed only on the Sepolia test network and cannot be transferred to the Ethereum mainnet for regulatory and legislative reasons related to decentralized financial services.

Vocabulaire
Escrow : Tiers de confiance qui conserve l'argent jusqu'à validation de la transaction.
Smart Contract : Programme automatique sur blockchain qui exécute les accords.
Sepolia : Réseau de test Ethereum utilisant de la fausse monnaie (gratuite).
Arbitre (Resolver) : Personne neutre qui tranche en cas de désaccord.

Concept and Operation

SmartPayTrust allows the creation of secure transactions where funds are locked in a smart contract until the transaction conditions are met. The system offers two payment modes:

I believe that we will always need humans for arbitration, and even though AI can be effective, it is essential to keep humans in the loop. Even in the world of blockchain and decentralization, there must be space to integrate professionals whose fields are impacted by new technologies (notaries, experts, banks, insurance). Adding technological layers while focusing on the flaws of a model and forgetting the reasons why we created this model in the first place condemns us to relive it in a worse way because it becomes more efficient. Blockchain remains primarily a technology, a tool at the service of humans and not a replacement.

Direct Payment

Funds are entirely locked until complete validation of the transaction.

Payment With Down Payment

A portion of the funds (down payment) is immediately transferred to the service provider, with the remainder released upon final validation.

Comment ça fonctionne ?

1

1. Transaction Proposal

Any party (emitter, receiver, or resolver) can initiate a transaction. The initiator specifies the addresses of the emitter (payer) and receiver (service provider), the address of the resolver (arbitrator), the total amount, the payment mode (Direct or With Down Payment), and the commission percentage for the resolver.

2

2. Validation Process

The resolver must first accept or decline the mission. If the resolver accepts, the receiver must then validate the transaction. Once these validations are obtained, the emitter can deposit the funds.

3

3. Deposit and Activation

After the funds are deposited, the transaction is activated. In Payment With Down Payment mode, a portion of the funds is immediately transferred to the receiver.

4

4. Finalization

After the service is delivered, the emitter validates the transaction. The remaining funds are then transferred to the receiver. The transaction moves to the 'Completed' state.

5

5. Dispute Management

In case of disagreement, the emitter or receiver can open a dispute. The resolver intervenes to distribute the funds between the parties. The resolver receives the commission fee provided during resolution.

System Advantages

  • Fund security via smart contract
  • Multi-step validation process
  • Flexibility in payment modes
  • Dispute resolution mechanism
  • Complete transaction transparency

Current Limitations

  • Deployment limited to the Sepolia test network
  • Use of test ETH only
  • Inability to deploy on mainnet for regulatory reasons

This project demonstrates the potential of blockchain technology to secure commercial transactions, while respecting the experimental framework imposed by current regulatory constraints.

Visit the application

Frequently Asked Questions

Everything you need to know about SmartPayTrust

SmartPayTrust is a decentralized escrow (trusted third party) service running on the Ethereum blockchain. It secures transactions between two parties who don't know each other: the buyer deposits funds in a smart contract, the seller delivers the goods/service, and funds are only released after validation. Everything is automated, transparent and without centralized intermediary.

Because of European MiCA (Markets in Crypto-Assets) regulation that came into force in 2024. Offering a financial service on blockchain in production now requires complex licenses and compliance that I cannot assume as an independent artist-developer. Rather than risk sanctions, I chose to maintain the project as a functional demonstration on testnet, where anyone can test without real money.

Yes, potentially in the United States or other jurisdictions more permissive for blockchain innovation. The European Union has unfortunately chosen a very restrictive approach that hinders decentralized innovation in favor of traditional players. If the regulatory framework evolves or if a suitable legal structure emerges, SmartPayTrust could switch to Ethereum mainnet. The code is ready, it's the law that blocks it.

Go to smartpaytrust.h2co3.xyz and connect your wallet (MetaMask for example) to the Sepolia network. You'll need SepoliaETH (free fake ETH) available on faucets like sepoliafaucet.com. You can then create a test escrow transaction, validate the complete workflow, and understand how it works without spending a real cent. It's fun and educational!

Total transparency (open source code, public transactions on blockchain), reduced fees (no intermediary taking 3-5%), speed (instant upon validation), and absence of centralized third party (no blocked account, no geographic discrimination). The smart contract is neutral: it executes what was programmed, without judgment or human error. That's the promise of decentralization.

SmartPayTrust explores decentralized trust and coordination mechanisms without central authority. It's a logical extension of my work on civilizational cycles: how can societies function without centralized institutions? Blockchain offers a technical answer to this philosophical question. Art, technology and social reflection come together.