Milestone Status Update

The Milestone Status Update Phase is where the service provider (e.g., Bob) marks progress on deliverables by updating the milestone status. This action signals that the agreed-upon work has been completed or a specific milestone has been reached, preparing the transaction for client review.

At this stage, the Approved Flag remains set to False, as the client (e.g., Alice) must explicitly verify and approve the deliverable in the subsequent phase.

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Key Actions

1. Service Provider Updates Milestone Status:

   • The service provider (Bob) logs into the platform or uses the API to mark the milestone as Done, signaling the completion of the deliverable.

2. Escrow Contract Updates:

   • The escrow contract:

     • Updates the Milestone Status to For Review.

     • Emits an on-chain Milestone Update Event, notifying all participants of the milestone progress.

     • Keeps the Approved Flag set to False until further client action.

3. Notification to Client:

   • The platform detects the status update and notifies the client (Alice) that the milestone is ready for review.

4. Transparency for All Participants:

   • All participants, including the service provider (Bob), platform (Marketplace), and client (Alice), can view the updated milestone status on-chain, ensuring visibility into the transaction’s progress.

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Key Metadata

1. Milestone Status:

   • For Review: Indicates the milestone is ready for client review or dispute.

2. Approved Flag:

   • Default = False: Remains unchanged until explicitly approved or disputed by the client.

3. Updated Event:

   • The escrow contract emits an event, notifying all participants of the milestone update.

4. Progress Details:

   • Optional fields can include:

     • Delivery notes.

     • Evidence of completion (e.g., reference IDs or uploaded documentation).

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Key Notes

• Blockchain Visibility: All participants can view the updated milestone status on-chain, ensuring transparency and traceability of progress.

• Platform Notifications: The platform plays a key role in notifying the client (Alice) about the milestone update, facilitating smooth communication.

• Optional Progress Details: The service provider can add supporting details or documentation (e.g., delivery receipts, tracking numbers) to enhance transparency.

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Phase Outcomes

1. Milestone Progress Recorded:

   • The service provider’s update is recorded on-chain, ensuring transparency and traceability.

2. Client Notified for Review:

   • The client (Alice) is notified to review the milestone and take action in the next phase.

3. Escrow Contract Reflects Progress:

   • The escrow contract’s milestone status is updated, preparing the transaction for the Approval Phase.