Rights of the Check Holder and Waiting Period

Check holder can access funds only after the expiration date, secured by smart contracts.

The rights of the check holder are fully protected by the individual who possesses the associated NFT. This digital asset represents the check and guarantees ownership of the funds. Whoever holds the NFT has the right to access the funds linked to the check. The NFT serves as a crucial tool that ensures the validity of the check and the security of the funds.

However, to access these funds, the check must reach its expiration date. The check can only be cashed after a specified period has passed, and until that time, the check holder cannot withdraw the funds. The funds remain securely stored in the platform's central pool, and the holder must wait for the designated period to end.

During this time, all processes are managed automatically by smart contracts. These smart contracts monitor the conditions for cashing the check and release the funds to the holder once the expiration date is reached. Smart contracts ensure that the entire process is executed securely and transparently without manual intervention.

It is impossible to cash the check before the expiration date. This safeguard is critical for maintaining platform security and ensuring that check transactions function smoothly. The check holder can only access the funds when the waiting period has ended, and the entire process is recorded on the blockchain, ensuring full transparency and protection of the holder's rights.

In conclusion, the check holder, represented by the NFT, has full rights over the funds but must wait until the expiration date to access them. This structure not only ensures security but also guarantees that transactions are automatically managed by smart contracts.