PAYFAIR - The Decentralised Escrow and P2P Cryptoexchange on the Ethereum blockchain

Hello everyone here, as I always do I welcome you guys once again to my little world that I always used to share my views about blockchain projects and startups. In this post, the project that I will be sharing with you guys is Payfair and I will try all my possible best to summarily share what you guys ought to know about this project. There's no time to waste, let's ride on.

Since Cryptocurrency came to the existence of in 2009 until today. Since it has been very volatile in nature. Have a lot of people who have started to know and understand about the need invested. Cryptocurrency is a decentralized, anonymous and electronically. The world crypto lovers very happy to be know’s and assume that it’s the right way to investment in the future .. even they called as money in the future.
Watch Video Presentation below

WHAT IS PAYFAIR?
Pауfаіr(PFR) іѕ a decentralized еѕсrоw platform fоr making сrурtосurrеnсу trаnѕасtіоnѕ. An escrow іn an arrangement whereby a thіrd раrtу holds аnd mеdіаtеѕ рауmеnt of fundѕ оr gооdѕ bеtwееn twо parties іn a transaction. Thе рurроѕе оf an escrow is tо еnаblе ѕесurе аnd rеlіаblе рауmеnt between trustless раrtіеѕ.

Payfair's buѕіnеѕѕ proposition is tо fасіlіtаtе secure, easily ассеѕѕіblе аnd аffоrdаblе еѕсrоw ѕоlutіоnѕ for сrурtосurrеnсу рауmеntѕ. Thе buуеr mаkеѕ hіѕ рауmеnt, whісh іѕ ѕесurеd іn an E-еѕсrоw ассоunt and еаrmаrkеd for a ѕресіfіс transaction. Once thе ѕеllеrѕ аgrееѕ tо раrtісulаrѕ оf thе transaction, a dеаl is іn рlасе. Thе seller then рrосееdѕ tо transfer thе gооdѕ wіth the аѕѕurаnсе thаt hіѕ рауmеnt is ѕесurеd. Onсе the buyer соnfіrmѕ rесеірt оf goods, payment is іmmеdіаtеlу released tо the ѕеllеr. Pауfаіr claims transactions on іtѕ platform саn bе рrосеѕѕеd 5 tіmеѕ fаѕtеr thаn trаdіtіоnаl ѕmаrt соntrасtѕ.

What is this Escrow?

Maybe not everyone knows what Escrow is so I will give a definition. "Escrow" means an independent third party acting as guarantor for fulfilling the obligations of the seller. Thus an escrow agent appears, escrow technology. On the Internet, escrow technology began to be implemented in 2009. This technology is used by eBay and Aliexpress. For example, transaction security partners for eBay and FedEx have licensed online escrow.com services.

Aliexpress and hkin.com offer protection on their sites at the expense of their own escrow services. In the PayPal and Webmoney systems, this service is also implemented. In Russia, there are examples of using escrow on the freelance fl.ru market, and CashPass popular in the gaming industry.

Now escrow technology is becoming popular for the blockchain platform. About one of them is PayFair.io.

About The Payfair Token (PFR)

The PayFair token (PFR) is an ERC-20 token that uses the Ethereum blockchain as its basis. The PFR tokens are an essential component of the entire platform ecosystem. The PFR tokens are used to create trust nodes and safe environment during the transactions.
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.

How does it work?

The self-regulation system consists of independent escrow records and trust nodes (i.e., PFR token owners). The heart of the Payfair ecosystem is the PFR token. This ensures that transactions between Payfair users are insured with their PFR tokens. Interest commissions from transactions are distributed every month among all trust points (PFR holders).

Trust Node

Everyone that sets up a Trust node, will help provide a more stable and safer system for the platform. Here you just have to leave the wallet online and don’t have to do anything else. This is similar to other staking coins, such as Reddcoin. The team has announced that you need 10,000 PFR to set up a Trust node, and you can stake and get proportional returns if you get 15,000 or 20,000 etc tokens. In the Trust nodes 80% of the transaction fees will be distributed back monthly.

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.
Payair Goals

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

ROADMAP