📝Complex Payment with Dispute Resolution
Last updated
Last updated
The following diagram represents a generic transaction flow when a transaction is carried out with a dispute resolution mechanism.
Analyzing the provided diagram for a "Complex Payment with Dispute Resolution," here is an explanation suitable for inclusion in the whitepaper:
Complex P2P Payment with Dispute Resolution
FrogPay's Complex P2P Payment system is designed for transactions that might require dispute resolution, ensuring both parties have the means to settle disagreements fairly and effectively.
Initiating the Transaction: A sender initiates a payment through the Payment Smart Contract, which then holds the funds and awaits the fulfillment of the contract's conditions.
Conditional Evaluation: The Payment Processor evaluates the transaction conditions. These could be related to time constraints or other specific requirements outlined in the smart contract.
Raising a Dispute: If a disagreement arises regarding the transaction conditions or fulfillment, the sender can raise a dispute. This action pauses the automatic execution of the payment.
Dispute Resolution Request: Upon dispute initiation, a request is made to the Dispute Management Smart Contract, which then involves a Dispute Analyst.
Analyst Intervention: The Dispute Analyst evaluates the evidence provided by both parties and makes an objective decision based on the terms of the transaction and the merits of the case.
Resolution and Payment Direction: The outcome of the analyst's decision will direct the next step of the transaction. If the dispute is resolved in favor of the sender, a refund is processed. Alternatively, if the resolution supports the receiver's case, the payment is released to them.
Refund or Completion: Depending on the decision, the Payment Smart Contract will execute the refund or send the payment to the receiver, concluding the dispute resolution process.
This mechanism ensures a level of oversight and fairness in peer-to-peer transactions, providing both senders and receivers with a trusted avenue to resolve disputes. It is an integral part of maintaining trust and security within the FrogPay ecosystem, where every participant has access to transparent and equitable conflict resolution.
