The problem VeilEscrow solves

Privacy Concerns in Traditional Escrow Transactions
Traditional escrow services often require personal information from both parties, which can lead to concerns about data privacy and trust. Our Zero-Knowledge (ZK) based platform eliminates the need for revealing identities, ensuring that personal details remain completely anonymous.

Data Security Risks
With centralized platforms, there’s always a risk of data breaches that could expose sensitive information about transaction details or identities. By decentralizing and using ZK proofs, VeilEscrow protects against such breaches, as no identifiable data is stored or exchanged.

Lack of Transparency and Control
Users may worry about the trustworthiness of centralized intermediaries. With a decentralized escrow, they have full control and insight into the escrow terms and process, knowing the rules are enforced by code without third-party interference.

Limited Access to Secure Payment for Anonymous Parties
Anonymous transactions can be challenging to secure with traditional methods, leading to mistrust and limited options. VeilEscrow provides a secure, trustless solution for anonymous parties to transact safely, broadening access to private transactions in a trust-minimized environment.

Challenges we ran into

• Initially, we wanted to setup Hyperring for wallet creation and MFA, but we couldn't do it because the ring has inconsistencies when creating the wallet. Also, it wasn't fully compatible with Semaphore which is essential for our project.
• We wanted to make everything on-chain in Stellar using the Trustless API, however since the Semaphore contracts are not deployed in Stellar and we couldn't figure out the elliptic curve Stellar uses for the key pair creation. Therefore, we ended up developing on BASE which fulfilled all our requirements.