Canada, Feb 8, 2021 /AlexaBlockchain/ – PAID Network today announced that it joined the Polkadot DeFi Alliance, a platform where Polkadot shares its updates and developments with Polkadot projects’ community members.
The Polkadot DeFi Alliance encourages exploring DeFi technologies and supports the building of new financial systems. They do this by bringing together industry leaders and projects who believe in and want to propel the Polkadot network alongside global cryptocurrency and blockchain adoption.
When asked about PAID Network joining the alliance, it was clear they knew PAID was a game changer “Paid Network brings in a unique value to our alliance by intersecting digital identity and legal services — we believe this will enable new verticals of DeFi products, and are thrilled to work together to unlock the full potential for the Polkadot DeFi ecosystem.”
Powered by Polkadot, PAID Network aims to change the current business contract, litigation, and settlement process by providing a simple, attorney-free, and cost-friendly DApp for users and businesses, that ensures all parties #GetPAID.
PAID’s individual and enterprise users can utilize the platform to easily sign standardized SMART Agreements, request escrow, and take out insurance to secure the value of their business deals. All formalized agreements are protected by a reputation system that functions as a credit score within the ecosystem to protect against bad actors. If and when disputes arise, a network of staked arbitrators are randomly selected through Chainlink’s VRF technology to quickly resolve the dispute in record time.
PAID Network’s goal is to use DeFi technology to streamline professional relationships between individuals and entities across borders to make business exponentially more efficient. Joining the Polkadot DeFi Alliance will enable PAID Network to join forces with other groundbreaking Polkadot DeFi projects like Reef, Chainlink, Stafi, Tidal, and more, allowing for future collaboration opportunities within a community that shares the common goal of redefining the way we do business in the future on Web 3.0.
