PAID Network is pleased to announce the release of our MVP Demo. The PAID MVP allows the user to create a wallet and use that wallet as a digital signature. A unique digital identifier associates all wallet transactions to a specific person.
The PAID MVP brings together two of the biggest technology trends of the next decade, individual digital identities and mobile identities. By 2030, the United Nations envisions everyone in the world having an individual digital identity.
We are launching digital identities with our mutual NDA contract. New agreements will be added in the coming weeks. When users of PAID Smart contracts select one of the agreement templates, they can now use the wallet to sign into and execute any agreement.
The digital signature technology is tied to a proprietary wallet and can be used with the PAID mobile and desktop app. The digital signature market is projected to grow from USD 2.8 billion in 2020 to USD 14.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 31.0% during the forecast period. Government initiatives and transition toward digitalization to drive the overall market growth.
Upcoming Milestones on the Horizon
The PAID Network has over half a dozen new technology features coming soon. In initial test drives, users are excited about our new all-in-one Dashboard designed to enhance the user experience. When users login, they can view all their activity in the system including user agreements, the wallet balance, and token price, to list a few.
Here are some of the features making it possible to manage the legal aspects of agreements from one intuitive interface.
User Profile Page
Users can now join the PAID community and create a digital identity within the platform’s ecosystem. This universal digital identity can be used for business interactions and agreements. The digital identity is the foundation of a user’s identity and the first step to building a reputation score — “the foundation of it all.”
Document/Negotiation Signing Process — All-in-One Business Contracting
We recently announced the inclusion of an automated arbitration process in the PAID Smart contract through our partnership with Chainlink for when disputes do arise. Our newly added seamless negotiation process will help our users avoid contract disputes.
PAID users can now directly counter offers and conduct negotiations within the ecosystem. When proposals are received and users want to negotiate, they can negotiate and adjust the terms while going back and forth with the counterparty on the fly.
The business world does not have to wait long for a smoother business negotiation process. The Document/Negotiation feature will be available in Q1 of next year. With this addition, the PAID Network rolls the entire end-to-end business contracting process into one smart contract.
Fundraising Update — A Wildly Successful Round
Over the past month, we’ve had a wild amount of interest from the investor community. Alphabit Digital Currency Fund made a seed investment in PAID Network to officially lead the fundraising round. We saw enormous demand from strategic angels and influencers on allocations, AND our whitelist was oversubscribed within 5 days. We are now in the process of selecting the best and brightest among our community members to take part as early stage investors of PAID Network.
Moving forward, we’re engaged with some of the most prestigious funds and investment groups as we select the right smart money partners to onboard. These early/strategic investors will help drive PAID Network adoption as we go to market across both the Western and Eastern hemispheres.
Watch for These Upcoming Features
We are moving beyond providing an attorney-free and cost-friendly DApp to help businesses and individuals ensure they #GetPAID by continually adding new business services and communication tools.
More exciting all-inclusive business toolkit features are on the horizon, including:
- Borrowing and lending
- Reputation score — biometrics
- Activity — calendar
- Fine tuning UX
- Contacts/sharing connections
About PAID Network
PAID Network seeks to redefine the current business contract, litigation, and settlement process by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID. Leveraging Plasm to operate on both Ethereum and Polkadot ecosystems, SMART Agreements built through smart contracts to execute business agreements seamlessly, and DeFi to make business exponentially more efficient.
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