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PayFair Ico Review: Escrow platform and p2p exchange which ensures the paramount security


About PayFair

PayFair is a decentralized Escrow platform which ensures the paramount security of all cryptocurrency transactions made between two parties. These transactions include cryptocurrency, FIAT, services and digital and physical goods.  A decentralized escrow platform for making cryptocurrency transactions between two parties. It is ensured with PAYFAIR tokens (PFR) based on Ethereum blockchain Low fees for making a transaction, its safety and privacy Saving time when making a transaction, no third parties or bureaucracy.


Payair Goals

1. Create trust-less guarantees between contractors, sellers, and buyers.
2. Ensure a mutually beneficial relationship between all participants within the platform.
3. Create an independent system without outside or developer interference.
4. Raise the social interest in cryptocurrencies and provide an easier to use FIAT Gateway for new investors

What the Problems Solve

  • Eliminate the lack of trust between contractors, buyers, and sellers.
  • Regulate trade conflicts through the help of a decentralized, rating driven escrow service.
  • Decrease the exorbitant fees that plague the escrow market.
  • Eliminate the potential for opportunistic and orchestrated fraud

Innovations
  • Escrow independence is achieved through anonymity, thus does not depend on contractors.
  • Decentralized escrow meaning those who run the nodes are not linked to any third party but are engaged independently.
  • An escrow rating system will ensure a high level of customer service and reliance when disputes occur.
  • A buyer, seller, and contractor rating system to ensure those who provide a reliable and/or smooth transaction are highlighted.
  • Full open-source API.
  • The most popular cryptocurrencies will be offered as a means of payment between contractors with more crypto offerings added as the wider market matures.
  • Self-learning neural system for automatic transaction processing.
Potential Market Share
  • Trust Nodes that utilize smart contracts resulting in trading without human interaction
  • Decentralised anonymous escrow nodes with no driver to defraud the system
  • Cryptocurrency to:
  • Fiat exchange service
  • Domains and websites
  • Freelance and online services
  • Physical and digital goods
Fundamentals

Ecosystem is a platform for completing transactions and deals.
Fee (commission) is a payment for the transaction made by the buyer and seller (or contractor).
Buyer — a party interested in transaction safety.
Seller — a party selling items, goods or services.
Trust node — PFR token holders.
Escrow — an independent and anonymous chain of escrow-nodes. Escrow settle the differences.
Escrow-node — PFR token holders in status escrow.

Rating of escrow-nodes
  • The rating system will create a self-regulating ecosystem with reliable participants of an escrowchain
  • Improves competency, confidence of trades between parties and open-mindedness
  • Fair fee distribution between the participants
Rating of buyers, sellers, and contractors
  • Improves mutual confidence between the parties even without the use of escrow-nodes
  • When using the platform for escrow service multiple times, rating helps to lower the fees for transactions, therefore, encouraging clients to use the platform more and more
Escrow-Nodes

Escrow-nodes ensure the integrity of a trade between parties. Escrow nodes are secured by PFR tokens, meaning every decision in the ecosystem is ensured by value and is performed by a real person. When this is combined with an Escrow rating system it further supports its ability to rid the platform of bad actors.

Team

Member
  • Ilya Konovalov – MARKETING
  • Evgeniy Pomelov – COMMUNITY MANAGER
  • Dmitriy Plishkin – DIGITAL MARKETING
  • Slava Butorin – SENIOR DEVELOPER


#bitcoin, #ethereum, #blockchain, #exchange, #dex, #crypto, #cryptocurrency
PayFair Ico Review: Escrow platform and p2p exchange which ensures the paramount security PayFair Ico Review: Escrow platform and p2p exchange which ensures the paramount security Reviewed by haw on October 11, 2018 Rating: 5

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