Project Watch: This Week’s Look At The Projects Building A Decentralized World
Here at PAID we want to see blockchain being utilized in a way that goes far beyond just currency, instead helping to create a decentralized world. Here’s a look at some of the projects in the ecosystem that we believe are making that happen.
Egoras
Every so often a project comes along that utilizes blockchain in a way that is truly inspirational. Egoras is one of those projects. Egoras is a DeFi platform for uncollateralized microcredit. Investors can stake their EGR tokens to support entrepreneurs from disadvantaged areas who do not have access to banks. Loans can be funded without risking the EGR token and investors have access to returns of more than 20% APR for approving and declining a loan. Some of the projects that have benefited from this platform include a woman’s agricultural group based in small grocery businesses, and engine oil businesses all spread across Africa. Loans are handed out to individual investors and are small, with requests between 100 and 200 USD enough to grow their businesses.
Egoras will utilize PAID SMART agreements to bring their off-chain loan agreements on chain and increase the transparency that surrounds their business agreements process. Egoras will also utilize PAID’s unique reputation scoring system to rank its users.
Bifrost
It looks increasingly certain that the future of blockchain and DeFi will consist of many different chains. Each chain has its own pros and cons and this creates a problem for DApp developers. It’s difficult to choose the best chain to build your DApp on. With Bifrost, developers can cherry-pick blockchain protocols, customize the network and change anytime as needed. Bifrost does this by creating private blockchains that are catered to the project’s needs and allowing them to interact seamlessly with a public blockchain to guarantee centralization. Bifrost allows developers to work with true interoperability and properly utilize the full power of many different blockchains.
Bifrost will be using PAID SMART agreements, facilitating business agreements and supporting them in the legal domain. This will allow Bifrost to cement business agreements with partners in the crypto industry, B2B, and internally.
Ternoa
Considering the number of use cases in private, centralized industries for blockchain as data storage, it is perhaps surprising that data storage has not caught on in the decentralized world. Ternoa hopes to change all that with yet another use case for NFTs. Ternoa is an NFT-based decentralized data transmission blockchain. Top decentralized storage providers are used to ensure the long-term integrity of the encrypted data. Built on Polkadot, Ternoa will also provide a myriad of different protocols to transmit data in specific ways, for example, time capsules, consent protocols, and countdown protocols.
With their IDO launched on IGNITION, the Ternoa team is already building a great project and showing it more applications for NFTs in the decentralized world.
Curate
And now for another project built around NFTs. Curate is a gasless NFT marketplace App. It allows users to buy and sell NFTs whilst earning the native $XCUR token for participating in the ecosystem. However, Curate will be implementing NFTs to represent real world items. This will allow users to buy and trade NFTs that correspond to real world clothing items, fashion accessories, and gaming accessories.
PAID Network has a strategic partnership with Curate and we know to expect great things from this fantastic project. By offering a physical marketplace, represented by NFTs, Curate is part of a revolutionary wave that’s going to change e-commerce forever.
About PAID
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts to execute DeFi transactions and business agreements seamlessly.
PAID streamlines backend legal operations with SMART Agreements, so that projects can focus on making their brand bigger and better.
For any questions for the PAID network, please feel free to reach out to us on
- Website: PAIDNetwork.com
- Telegram: @PaidNetwork
- Twitter: @PAID_Network
- Medium: @PAIDNetwork
