I'm checking if a blockchain is applicable to our project.
In our requirement, a supplier and a buyer get into a work agreement. Later, supplier could claim that they have delivered according to the contract. But buyer could say that the delivery did not meet the quality norms as per the agreement.
I guess such situations are taken to court if big money is involved. Instead, can a technical solution such as blockchain resolve such issues? How can a blockchain verify if the quality of the delivered goods or work meets the terms in a smart contract? If not, what good can we expect from a smart contract and blockchain for this context?
Thanks!
I think it's possible to use multisignature transactions to implement an escrow service that can arbitrate in case of a dispute an send forward or backwards the money. (If the buyer and seller agree, they can complete the transaction automatically.) But you are changing a court in the real word by some arbiter in the real word.
Anyway, I'm not sure if someone has a good working scheme like this.