Project Watch: This Week’s Look At The Projects Building A Decentralized World
The potential of blockchain goes far beyond its ability to store wealth. At PAID Network, we believe in a vision where blockchain provides the building blocks to create a decentralized world. These are some of the projects in the PAID ecosystem and beyond that are part of that vision.
As DeFi becomes more complex, there are many new features that projects must have access to, such as the ability to issue stablecoins, in order to completely fulfill its users wishes. Stablecoins are a key feature for users looking to store wealth that’s unexposed to a turbulent market. OIN DAO is a stablecoin and staking derivatives issuance platform. By utilizing DeFi technology, OIN is able to create a cross-chain multifaceted platform that allows blockchain projects of all sizes to issue their own stablecoin autonomously by collateralizing their own native tokens.
OIN will be utilizing PAID SMART Agreements and applying them across its business infrastructure, improving existing processes and enhancing efficiency. OIN will also prepare agreement templates for PAID’s DApp to be signed on-chain after its launch. In addition to this, PAID will be using OIN to create an optimized stablecoin known as USDP.
Another issue in DeFi today as well as the crypto world at large is the growing prospect of regulation. The issues that Binance is currently having demonstrates that crypto projects may soon have to fall in line with tighter regulations. Centaur is building an all encompassing product suite specializing in DeFi solutions that aims to integrate regulatory control. Centaur in effect, is bridging DeFi and traditional finance. The solutions offered by Centaur include a wallet, a decentralized exchange, and a blockchain, all of which are designed for individuals and enterprises alike.
Centaur is another project that will be using PAID solutions in its ecosystem. The aim of which will be to increase the adoption of blockchain technology in a real world environment and increase the confidence in partnerships with key players in traditional finance and the decentralized ecosystem.
With so many new blockchains emerging offering exciting solutions to issues like scalability, speed, and cost it seems very likely that the future of crypto will be multichain. This, of course, creates a demand for projects that are able to bridge the gap between chains. Astar Network, formerly known as Plasm Network, is one such project. Astar is building the premier multichain smart contract hub that supports DeFi, NFTs, and DAOs. Multiple layer 1 blockchains can be connected to Polkadot through Astar. This is a project that has already seen significant success with 150k ETH already locked on the network through lock drops.
Astar Network fits perfectly into the PAID ecosystem. The ability to build DApps that can be deployed on both Ethereum and Polkadot will be a key feature of the decentralized legal system that we are currently building, that will support the continued growth of the wider DeFi and crypto space.
AIOZ is a project that demonstrates the massive potential of blockchain to disrupt mainstream markets. Currently, video streaming on the internet is completely dominated by a small few platforms with YouTube being by far the largest. It is very difficult for new platforms to compete because the expenses associated with developing the network infrastructure required are so large. AIOZ is leveraging the power of blockchain to create a decentralized alternative to these platforms. The AIOZ Network utilizes a global network of nodes to create the bandwidth needed for infinitely scalable decentralized Content Delivery Solution (CDS) at a fraction of the cost of legacy streaming platforms.
AIOZ is a project that we are very proud to have launched on IGNITION. The innovative solutions presented by AIOZ received the support of Master Ventures and we’re delighted to have them on our network.
One step necessary for mass adoption is the ability for blockchain to integrate completely in our everyday lives. This is why oracles are so important. They allow blockchain to have access to off-chain information that in turn allows the blockchain to react to real world events. Chainlink has a global open source community committed to building protocols that can connect highly accurate and available data to any smart contract. Chainlink greatly expands the capabilities of smart contracts by enabling access to real-world data and computation. It is already endorsed by crypto leaders from AAVE, Synthetix, Yearn.Finance, and Celsius showing the huge significance of this project
PAID Network has integrated the Chainlink Verifiable Function (CFV) which provides unbiased and auditable randomness as part of its dispute resolution process. The integration will allow PAID’s new borderless legal toolkit to fairly and transparently select three random arbiters from across a network of eligible users who can then arbitrate the dispute.
One issue that is currently hampering the mass investment from institutions into crypto is the fact that there are so many fraudulent projects in the space. PureFi is a gateway for onboarding institutional money into DeFi. Using a set of onchain oracles and smart contracts, PureFi protects honest DeFi market providers from dirty crypto. VC certificates are utilized as a decentralized identifier to filter out dirty coins and only legitimate coins are added to liquidity pools. Criminal records, political exposure and legitimate funds will all be analyzed before granting the VC certificate.
PureFi is available on Binance Smart Chain, Solano, Polkadot and Ethereum. It is powered by $UFI tokens. 70% of the PureFi fee will be used to burn $UFI tokens, creating value for the ecosystem.
Onwards To A Decentralized World
These Project Watch articles are a glimpse into the work that’s being done to bring blockchain to the mainstream. These projects are key to the building of the decentralized world, and PAID is proud to be building it alongside them. Through partnerships, IDO launches, and project integrations, PAID will be supporting many of these projects so that they can fulfill their full potential. To read more about the projects that are part of our ecosystem you can read up about them on our blog HERE.
Over the last few years blockchain has proven itself as an excellent storage of wealth. However, the utility of blockchain goes far beyond this. As we drive towards mass adoption expect to see blockchain integrated into medicine, education, supply chain logistics, even national defense. For more information on just how far reaching blockchain can be, check out this CBInsights article HERE.
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