PrepayWay - The New Paradigm of International Business

Introduction

The following review, is a detailed summary and analysis about the PrepayWay Project. This will be helpful for everyone who wants to learn more and get an objective view about the PrepayWay Project.

PrepayWay

PrepayWay is a blockchain ecosystem that simplifies and streamlines international collaboration, contracting, and payments for companies across multiple industries. PrepayWay Blockchain Ecosystem has been designed to be self-expanding and effortlessly scalable to support all types of international business operations, ranging from real estate to global commercial trade, with market size of up to 15 trillion USD. PrepayWay is an all-in-one solution for international contracting, financing, payments, and dispute resolution. PrepayWay combines the functions of lawyers, banks, escrow agents, and arbitral institutions. PrepayWay - simple solution for complex processes. By the utilization of blockchain technology, transaction processes are more efficient, and this will certainly provide liquidity for the participants and certainly can be accessed globally. On the other hand, by using smart contracts will reduce fraud or other negative things that can delay the transaction process.

Features of The PrepayWay Ecosystem

Legal Contract Templates: Standardized yet customizable legal and enforceable contract templates will be provided by PrepayWay on their online platform. They will be created by legal experts and will be translated into many languages. This will erase the necessity of employing translators and lawyers. Since these contracts will be recorded on the blockchain, the problem of security becomes an issue of the past.

Smart Contracts: The smart contract code facilitates, verifies, and enforces the negotiation or performance of an agreement or transaction. It is the simplest form of decentralized automation." So the conditions of the contract are coded in a smart contract, and it runs smoothly if participants fulfill the conditions, if not, a dispute arises and the smart contract is “frozen” until an independent arbitrator’s decision is issued.

Payments: Fiat and digital payments are possible with the integrated payment solution of PrepayWay. Licensed escrow partners are ready as well.

Digital Currency Transaction:Smart contract does not release the money of the buyer to the seller until the seller uploads proof of fulfillment of the contractual conditions.

Fiat Currency Transaction: With the help of the escrow partner/bank, such transactions run smoothly.

Smart Dispute Resolution: SmartArb (International Smart Mediation and Arbitration Institute) provides alternative dispute resolution (ADR) services for international business disputes in smart contracts.

PrepayWay Blockchain Ecosystem

Businesses from various industries join PrepayWay Blockchain Ecosystem and integrate the blockchain technology with their traditional business processes, creating and by developing tailor-made innovative business solutions to suit specific requirements and address specific needs. Every solution developed by PrepayWay smoothly integrates the core elements of PrepayWay Blockchain Ecosystem with traditional business processes. Driven by the token economy, our self-evolving Ecosystem will continue to grow and develop.

HOW THE PREPAYWAY BLOCKCHAIN ECOSYSTEM WORKS

For Service Providers: Contribute to the development of the core elements of the Ecosystem.

For Core Elements: Used by the Ecosystem participants as building blocks for the development of innovative Blockchain solutions.

Blockchain Solutions: Every solution developed by PrepayWay or any other Ecosystem participant smoothly integrates some or all of the core elements of the Ecosystem to boost business processes.

For Ecosystem Users: Both business and private users reap the following benefits to improve performance.

PrepayWay Global Trade

PrepayWay Global Trade is an integrated blockchain solution for fast, secure and convenient international business contracting, from creation to execution. Leveraging self-executing smart contracts and decentralized storage of transaction data, it replaces the traditional paper- and trust-based system with a fully digital alternative.

PrepayWay Global Trade automates contracting and payment processes, reduces transaction costs, and increases transparency, traceability, and efficiency of cross-border transactions in a wide range of industries.

PrepayWay provides standardized yet customizable legal and enforceable contract templates prepared by legal experts and translated into multiple languages. The high level of standardization in combination with the modular architecture of contract documents allows contracts to be readily customized to the negotiated, transaction-specific needs of individual clients.

PrepayWay blockchain solutions enable data transparency and access to information for all the involved stakeholders, thereby enhancing trust and creating error-free flows of goods and services. The result – accelerated speed of transactions, dramatically reduced transaction costs, and minimized risk of fraud.

PrepayWay Real Estate

PrepayWay Real Estate makes the real estate reservation process direct, flexible, transparent, and secure. It minimizes need for trusted intermediaries and prevents fraud losses. Use our valid contract templates to draw up contracts, sign them digitally, choose between fiat and digital currencies, and enjoy full protection of your reservation deposit stored securely on the blockchain.

The PrepayWay platform allows clients to draw up reservation agreements and deposit earnest money. The release of the deposit is initiated by the smart contract only upon confirmation of notarial transaction. If the property is not as described, or the deal falls through the fault of the seller, the earnest money is automatically returned to the buyer. In case of dispute, an independent mediator and/or arbitrator from the SmartArb Institute decides the case.

Business Model

The PrepayWay Ecosystem’s P2P business model provides the environment and payment methods to facilitate matchmaking between businesses and individuals offering a service and those who wish to use that service, simultaneously generating value by charging a small commission.

Unique Team Members

The PrepayWay team comprises of topnotch professionals in their domains. They have ambitious goals  which will enable them to set new standards for the Market. To achieve this goal a strong Team is built with all the necessary skills, talents and long-time experience needed for the project. Most of the team members on PrepayWay have verified LinkedIn profiles. This is all good because the more transparency a company have in regard to their team, the more trustworthy they typically are.

Token Details

Token: InBit

Token protocol: ERC20

Type: Utility

Total token supply: 12 763 636 364 InBits

Token supply during Sale: 6,500,000,000 InBits

ICO sale date: 19 March, 2019

Token price: 1 InBit = 0.01 EUR

Accepted currencies: ETH

Hard Cap: 50,000,000 EUR

InBit is a native token that will be used on the ecosystem and it's a utility token. Initially this Token will be based on Ethereum Blockchain technology (ERC-20) and maybe in the future this token can be swapped to their own blockchain (Still being developed to meet ecosystem needs). This token can be used by holders to pay for services available in the ecosystem.

The InBit token is a utility token and the lifeblood of the PrepayWay Blockchain Ecosystem. The only mechanism by which a user may obtain access to the Ecosystem’s services, it is required to activate each PrepayWay smart contract and to access Elleeo financing platform and SmartArb dispute resolution services.

Benefits of the project to participants

Efficiency: Blockchain technology reduces the need for intermediaries, thereby reducing costs and speeding up transactions.
Versatility: Transactions in both fiat and digital currency are supported.
Transparency: All transaction data are recorded on the blockchain to ensure accuracy,
consistency, and transparency.
Security: Data immutability on the blockchain in combination with self-executing
smart contracts minimizes the risk of data tampering and fraud.

Be a part of this tremendous project and follow these links for more information;

WEBSITE: https://prepayway.com

WHITEPAPER:https://prepayway.com/PrepayWay_Blockchain_Ecosystem_Whitepaper_V1.1.pdf

ANN THREAD: https://bitcointalk.org/index.php?topic=5065060.0

TELEGRAM: https://telegram.me/prepaywaychat

FACEBOOK: https://www.facebook.com/PrepayWay/

TWITTER: https://twitter.com/PrepayWay

MEDIUM: https://medium.com/@prepayway

LINKEDIN: https://www.linkedin.com/company/prepayway/

INSTAGRAM: https://www.instagram.com/prepayway/

WEIBO: https://www.weibo.com/prepayway

Author
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