ValPromise determines if promises are honored, basing on the public monitoring data via Internet. It allows any individual or organizations that satisfy the rules of the system have access to release their own promises (contracts), while any
individual may accept promises(contracts) issued by counterparties with their trust on the fairness and enforceability of the contract itself, which solves problems of collaboration regardless of geographical differences and regulatory differences.Specifically, the ValPromise project will focus on the risk management area which scales up to over $1 trillion annually and deliver with a decentralized promise
mechanism involving in releasing and trading. They aim to build a fully trusted,more efficient and cost-effective collaboration system of global risk management.