Ever since the freelance marketplace started booming, the need for a trustable third party Escrow has grown at an incredible pace. We have been observing a significant momentum of blockchain from October 2017 and it is a decent move by Payfair to introduce a decentralized platform based on the very principles of an Escrow.
It must be noted that this platform does not only aim to solve the problems experienced by freelancers but wherever there is a deal being made by the parties located remotely, PFR could be used to established trust and exchange goods or services. The idea of such a venture is pretty straightforward (i.e. to offer intermediary trust service in financial deals) and since the usability is bound to keep growing, the community will certainly adopt it.
Even though there are plenty of Escrow services in the market right now, they charge a hefty amount in terms of fee. But PFR ensures that the community is not looted and in fact, the charges are kept bare minimum.
It is also worth noticing that the transactions are executed at least 5 times more quickly than the current market leaders and these reasons are enough to offer a satisfaction to the community that the venture has a great potential to hit newer heights of success.
Regardless of the fact that its utility is quite high, the Payfair prediction seems shady because of an uncertain and fluctuating trend in the crypto market. One of the core concerns for potential investors is that the coin has not yet been listed on some of the most credible exchanges in the niche.
Had it been on one or two of the exchanges, we could have easily rolled out Payfair forecast of more than 150M in terms of market cap by the end of 2018. But as of yet, the adoption rate is considerably lower than we had expected out of its business model.
A couple of months before September 2018, there was a lot of discussion on the internet regarding this venture and people were quite eager to get the maximum benefits out of this. Some of the enthusiasts also set their estimates pretty higher than expected.
The adoption rate is way lower and this ultimately means that they are short of funds required to nurture a crypto venture and get listed on major exchanges. So basically, they are not getting much attention and this is a very serious issue.
Yes, the probability is significant. However, it cannot be ignored that it created a major hype at the time of launch and if by any means, the team manages to create that scenario again and the adoption rate rises, things could turn in their favor.
But it must be noted that this industry is quite shady when comes to making predictions and our evaluation is just an estimate. So readers are always encouraged to conduct their own research before making an investment.