INTRODUCTION
The cryptographic ledger advancement has brought ease of doing business generally. Every coin introduced is burdened with the goal of solving particular bottlenecks, and wide acceptance of this coin is premised on how effective cryptographic form of money will solve the problem.
Today, we will look at a blockchain ecosystem named prepayway, it has come to change ways in which commerce is done universally.
BACKGROUND OF COMMERCE
Like we know, commerce involves the trade-off of commodities, services and properties between two or more people. But as simple as it may sound, commerce has been linked with various hitches, glitch ranging from; time and cost consumption to payment disagreement and to difficulty in the ease of selling and buying of assets.
All of the aforementioned problem attributed to commerce generally can be done away with, with the use of cryptographic ledger.
WHAT CRYPTOGRAPHIC LEDGER CAN DO IN THE COMMERCE INDUSTRY
1.) Values can be exchanged without the intrusion of banks
2.) All exchanges will be recorded on blocks in the cryptographic ledger
3.) Assigning smart contracts
Hence, reducing the possibility of fraud, increasing the speed of transaction and promoting flawlessness.
HOW PREPAYWAYWILL AFFECT COMMERCE UTILIZING CRYPTOGRAPHIC LEDGER TECHNOLOGY
Smart Contracts Generation
Smart contracts like regular contracts contain a consensus between two parties, where terms must be met before the business is done. It becomes a smart contract when it is encrypted and runs in the blockchain technology.
This contract be will be generated, saved as a signed and encrypted document, stored in a database and generate a smart contract variable. The terms and condition as explained are coded and processes are triggered according to the terms assigned. In the case of a dispute, the contract is frozen until the decision if an arbitrator provided comes through.
Payment enablement
Both paper money and digital currencies can be used.
Paper money payment
In this method, the buyer sends money to the escrow account and then subsequently encrypted in the payment order of the contract, when the seller fulfils the agreed terms, payment is then triggered release to the receiver.
Digital payment
The official digital money in the prepayway structure is INBIT and it works like the Fiat, except for the fact that Fiats are first exchanged for INBITS.
Smart disagreement settlement
SmartAbr is used in this project. This is a combination of a group of expert mediators and arbitrators to provide a fair and efficient business service.
BENEFICIARIES OF THE PROJECT
Partners and Service Providers.
Partners involved in the legal work gets a (%) of transaction value each time their contract templates are used, Escrow partners also get a (%)
Clients
Clients enjoy the benefits of a secure and cost-effective transaction and also access to global investors
Prepayway
a. 0.5-2% of each contractual value
b. 0.5-4% for complete transaction
c. 0.5-2% for using selected service.
INBIT TOKEN
The Inbit token is the driving force of the project used to activate all of its provided services to clients.
The number of inbit tokens required to access the services depends on
Inbit exchange rate
The contract price
Charged fee
TEAM:
The Prepayway team consist of personalities in Co-founders that are vastly experienced, technically savvy and result oriented in the blockchain and digital space including in the area of business, technology information and legal. Little wonder they have been attracting rave reviews from trusted experts in the blockchain ecosystem
For more inquiries please click on the links below:
Website => https://prepayway.com
Weibo => https://www.weibo.com/prepayway
Whitepaper => https://prepayway.com/PrepayWay_Blockchain_Ecosystem_Whitepaper_V1.1.pdf
Ann Thread: https://bitcointalk.org/index.php?topic=5065060.msg47673265#msg47673265
Telegram => https://telegram.me/prepaywaychat
Twitter => https://twitter.com/PrepayWay
Facebook => https://www.facebook.com/PrepayWay/
Linkedln => https://www.linkedin.com/company/prepayway/
Instagram => https://www.instagram.com/prepayway/