[ANN] PrepayWay – The New Paradigm of International Business Contracting

[PrepayWay]

Is PrepayWay the same as SmartArb? Came across this page https://smartarb.org/
Is the same team behind it?

SmartArb is a subsidiary of PrepayWay that provides smart dispute resolution services - one of PrepayWay’s core elements, but can perfectly work by itself as well and implied where needed.

SmartArb is founded by the same people who founded PrepayWay.

[Chantella]

Is PrepayWay the same as SmartArb? Came across this page https://smartarb.org/
Is the same team behind it?

SmartArb is a subsidiary of PrepayWay that provides smart dispute resolution services - one of PrepayWay’s core elements, but can perfectly work by itself as well and implied where needed

When you say it can be implied where needed do you mean it can also be used for not smart contracts (so I mean like regular contracts) as well? Or does it work only on smart contracts?

[PrepayWay]

Is PrepayWay the same as SmartArb? Came across this page https://smartarb.org/
Is the same team behind it?

SmartArb is a subsidiary of PrepayWay that provides smart dispute resolution services - one of PrepayWay’s core elements, but can perfectly work by itself as well and implied where needed

When you say it can be implied where needed do you mean it can also be used for not smart contracts (so I mean like regular contracts) as well? Or does it work only on smart contracts?

Our main focus is smart contracts, but it can also be used for any kind of disputes  

[St_3179]

Whose responsibility is it to pay for the smart contract to go live? If someone wants to buy a property is it the responsibility of the seller or the buyer to pay for the service? Is it possible for one party to sign the contract without owning any cryptocurrency?

[PrepayWay]

What's the total supply of your tokens and whose responsibility is it to pay for the smart contract to go live? If someone wants to buy a property is it the responsibility of the seller or the buyer to pay for the service? Is it possible for one party to sign the contract without owning any cryptocurrency?

The person who is responsible for paying the fees is agreed in the contract.

Users who do not already have the required number of InBit tokens can use traditional payment methods. The PrepayWay system automatically converts the fiat-currency value of fees into InBit tokens according to the market exchange rate and locks it into the smart contract until its execution.

[Chantella]

I actually have another question about this Smart Arb solution as I find this really interesting and it definitely looks promising.

How will this system know how to make a fair decision on a case? How can both sides defend themselves when a dispute arises if it’s all been done automatically?

[PrepayWay]

I actually have another question about this Smart Arb solution as I find this really interesting and it definitely looks promising.

How will this system know how to make a fair decision on a case? How can both sides defend themselves when a dispute arises if it’s all been done automatically?

Thank you! That's a good question.

Both parties will have the opportunity to provide their evidence before it is sent to the arbitrators.
We have a network of arbitrators, therefore the process goes through our ecosystem, but is not done fully automatically as in the end it will reach professional arbitrators who will look through all the evidence and justifications provided and make their judgement based on all the available information.

[PrepayWay]

How can I access your white paper?

Our Whitepaper can be accessed from our website - https://prepayway.com/PrepayWay_Blockchain_Ecosystem_Whitepaper_V1.1.pdf

[JerryTG]

How can I access your white paper?

Our Whitepaper can be accessed from our website - https://prepayway.com/PrepayWay_Blockchain_Ecosystem_Whitepaper_V1.1.pdf

Brilliant  So tell me, what is there in for the clients? How does your ecosystem make their lives better?

[PrepayWay]

How can I access your white paper?

Our Whitepaper can be accessed from our website - https://prepayway.com/PrepayWay_Blockchain_Ecosystem_Whitepaper_V1.1.pdf

Brilliant  So tell me, what is there in for the clients? How does your ecosystem make their lives better?

I’ll go over aspects that PrepayWay Ecosystem provides:

- Replaces the bureaucracy of contracting and payment procedures by integrated money transfer service and risk management solution embedded in contracts;
- Boosts sales with technology for secure deals with new, unfamiliar partners;
- Replaces lengthy litigation by providing time- and cost-efficient smart arbitration for dispute resolution;
- Replaces obsolete document workflow management by instant access to transaction information for all the supply chain participants and remote signing of contracts.

Taking this into consideration we can say that we improve our client lives by speeding up the process of business transactions and therefore saving their time, while also making it all more convenient, secure and stress free.

[Serena_M]

I looked at your Whitepaper and it definitely seems like a promising project, but I don't think I found much info about this Elleeo platform. Could you please give a little insight on that as well?

[PrepayWay]

I looked at your Whitepaper and it definitely seems like a promising project, but I don't think I found much info about this Elleeo platform. Could you please give a little insight on that as well?

In Whitepaper under Elleeo, when you click on "Learn more" a new page will open  Also, you can check out the live demo on https://elleeo.com/

But to give a quick overview of this solution Elleo offers collateralised lending between PrepayWay Ecosystem participants and is also a standalone loans marketplace where investors and borrowers cooperate on the best terms. Role of Elleo crowd-lending in the Ecosystem is to help buyers and businesses finance transactions overseas and simultaneously offer lenders attractive investment opportunities, ensuring capital is put to good use.

Elleo supports only collateralised borrowing and safeguards lenders by performing identity, credit history and collateral ownership checks. This approach ensures creditworthy borrowers receive unparalleled access to funding for their transactions, pushing Ecosystem usage and transaction volume to a new level.

[Serena_M]

Oh, sorry, my bad for not noticing! Thank you for your answer though.

Also, a little speculation - you as a smart contract provider, what's your take on the discussion whether contracts on paper will disappear entirely?

[PrepayWay]

Oh, sorry, my bad for not noticing! Thank you for your answer though.

Also, a little speculation - you as a smart contract provider, what's your take on the discussion whether contracts on paper will disappear entirely?

In a way paper contracts are already disappearing in some countries as everything is digitalised and documents can be signed digitally as well, for example that is done in Estonia by using personal ID cards. It could be said that the chances of the world migrating fully to digital contracts are pretty high although it won’t happen overnight as a lot of countries would have to change their legislation in order for that shift to occur.

[jerome892]

Any benefits of your project for private users or do you offer only solutions for businesses?

[PrepayWay]

Any benefits of your project for private users or do you offer only solutions for businesses?

Our solutions are useful for both private and business users. Private users have access to all the core elements of our ecosystem just as well business users do. Anyone can create their own blockchain solutions based on our ecosystem.

For a more specific example in regards of the benefit for private users, PrepayWay solution for real estate helps private users to reserve property from all over the world conveniently, securely and stress free.

[Chantella]

Please explain a bit about your global trading platfrom. How exactly will it work and why does it need blockchain? 

[PrepayWay]

Please explain a bit about your global trading platfrom. How exactly will it work and why does it need blockchain? 

I will bring out some aspects of PrepayWay Ecosystem that speeds up and reduces the cost of a simple international commercial transaction.

- Parties conclude legally binding and fully enforceable contracts online in languages they understand using customizable contract templates developed by our lawyers for every country.
- The Buyer makes a deposit in crypto or fiat using our fiat gateway and escrow service providers.
- The Seller ships the goods or provides services.
- As soon as receipt of the goods or services is confirmed, the money is released to the Seller.
- Blockchain provides a new standard for transparency and traceability that coexists with privacy. Information can be verified without violating data confidentiality.

[Chantella]

Will you have a bounty campaign?

[PrepayWay]

Will you have a bounty campaign?

You are right on time  Check out the campaign from here
https://bitcointalk.org/index.php?topic=5087072.0