PrepayWay – The New Paradigm of International Business Contracting
Every day billions of people come into contact with each other through trade relations. Someone sells something, and someone buys it, thus both sides form a global market for trade around the world. Moreover, sellers can be not only individuals, but also large corporate giants, whose income amounts to billions of USD. In fact, it does not matter what the amount of the transaction in question, as there is in this relationship, what unites them.
And they are United by a number of problems that arise constantly. Due to the fact that all the participants in the transaction are in contact with each other, various trade agreements are created between them for reporting, where all the conditions for fulfilling the obligations of each party are prescribed. But as practice shows, not everyone acts in good faith, someone did not make an advance payment in time, someone took an advance payment at all, but did not fulfill a number of obligations. As a result, there is a huge number of disputes, the solution of which is delayed for weeks. And this usually leads to a number of other problems associated with financial losses and business costs. Unfortunately, traditional instruments and treaties, in their pure form, cannot cope with such problems as the rapid speed of solving problems, moreover, they lack transparency and are not biased against one or another party. Therefore, the question of how to solve all this remains relevant.
With the advent of Blockchain technology, the solution of such situations becomes much easier, as the solution of the dispute becomes not only fast, but also completely transparent for both parties. Taking into account all the positive functions and features of the blockchain, the team of specialists decided to offer its idea of solving the above problem and developed a new universal decentralized ecosystem.
About the project
The project that we will consider today is called – PrepayWay. This project intends to change all existing business processes, creating its own decentralized system within which a new paradigm of international trade relations will begin to exist. Simply put, PrepayWay seeks to improve trade relations between its participants from real estate transactions to large international commercial transactions.
Smart contract power
I think you have heard many times that the presence of a smart contract in a decentralized community helps to regulate any relationship between its two participants or the parties. In this ecosystem, this is no exception, since by means of smart-contact representatives of different parties will be able to conclude a legally correct contract, which is drawn up by professional lawyers and in accordance with the legislation of the country in which they are residents.
To understand what is happening, I propose to consider a small example of interaction between the two participants in the real estate market.
Advantages
Thus, we see that this approach can simultaneously solve a number of problems. Moreover, PrepayWay has a number of advantages that I would like to list:
In fact, the advantages of PrepayWay still a lot to list all of them I don’t see the point. I think these points are enough to ensure that you have a more or less clear picture of what is the project.
The details of the ICO
To you, the end user had the opportunity to use the services PrepayWay, you need to purchase their internal token – InBit. Because it is he who carries out the life of the platform and activates the smart contract. This token is a standard utility token (ERC20). The initial cost of which for 1 InBit is 0.01 EUR. In total, the developers intend to issue 12.763.636.364 tokens, of which 650 million will be allocated for sales (pre-sale and ICO), and the remaining part will be distributed among the team members, its advisors, the remaining tokens will remain in the reserves of the company. All unsold tokens at the time of sale will be burned.
Conclusion
I believe that this kind of project has every chance to take a leading position in this segment of the market. Since its idea, tools and functions are aimed at solving existing problems in the international market and their quality solution. What I think is an important fact! Moreover, the developers of PrepayWay do not intend to reveal the full potential of blockchain technology alone, they plan to create a synergy of strategically important partnerships with existing ecosystems, combining their efforts for the further growth of blockchain technology.
However, do not forget that my article is only a superficial review and does not affect all the deep processes of the project, the knowledge of which will allow you to study it in more detail and to fully understand the essence of PrepayWay. Therefore, I strongly recommend you to read both the technical documentation of the project and its official media resources. As always, you will find all the necessary links at the end of the article. And I have on today all!
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