PayVX Is A Crypto Escrow Service For The Future

egetror (51)in #steempress • 6 years ago

This is a unique escrow service that promises secure and fast payments based on the cryptocurrency framework. With the base of a blockchain technology the parties who are involved in such transactions would be able to engage in a secure framework. The transactions that would take place with crypto currencies would lead to a trust-based relationship between the different parties.

Features of the escrow service

This is a financial arrangement made through third party services that regulate the payment of funds between two parties. Transactions are done in such a manner to ensure that a transaction is secure through an escrow account. That is because the payment gets released and completed when the escrow account terms and conditions are met. Escrow service comes of use when transactions are done with large sums of money. Certain terms can be linked to an escrow account so that payments are released only when these terms are met. That is the service this website aims to provide.
Traditional escrow services are difficult to set up with the regulatory norms being stringent and varying from one country to another. However, this cryptocurrency based framework promises to make escrow services easy and affordable. At the same time, escrow transactions would be legally binding and secure so that the users of the service can rely on such mode of transaction.
It would work with buyers and sellers agreeing to certain terms of this escrow payment service framework. The buyers would pay by PayVX escrow where they submit a payment as per the approved payment methods found on the system. Sellers are then notified that funds have been placed in the escrow account for them and they can then ship or deliver products or services to the buyers. Once the conditions of the purchase are found satisfactory by the buyers, the escrow account funds are released to the seller.

Team behind PayVX

The team behind PayVX comprises of Tom Nilsson as CEO and founder, Noah Brady, who is the lead developer, Bailey Nolan as a system engineer and several others in supporting roles. The organization also flaunts association with the Singapore Fintech Association and others.

Should you invest in PayVX?

This is an organization that promises to make escrow payment services an easier possibility. At the same time, it brings a unique business model based on the cryptocurrency framework. What is required to instill faith in potential investors is more details about the management team and the transparency of the business model and how the following steps in future development would be executed. It is best that those interested in the ICO of the company seeking further details with the management before proceeding. As of now, the ICO has already begun and it would be on for three months. Hence, it is important that those who are interested in investing in this program find out more about the viability of the business model and take the decision to invest in the ICO.

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