P2P Service

Paybox also aims in bridging the need for a decentralized P2P service, where individuals can exchange, sell or buy tokens. They deal directly with each other with the Paybox smart contracts as the middle ground between seller and buyer, and add a level of security and trust between the two parties.

Buying tokens advertised on Paybox

Anyone can advertise their tokens for sale on the paybox web service, and when a customer finds interest for their tokens, they will initiate a request to buy, which is confirmed by the merchant. The customer get a notification that the tokens are now locked for deliver, and he must make a payment according to the deal. Once the merchant confirms receiving the payment, the tokens are released to the customer.

If the customer don't want to complete the buy and cancel

The customer may at anytime cancel the order, and once he does, the tokens are returned to the merchant so he may continue to offer them for sale.

Selling tokens on Paybox

The Paybox service, does not just let people advertise sales of tokens, you as a merchant can also request to buy tokens, and if a customer has tokens he would like to sell, he may initiate a request to sell.

The flow is similar to when buying tokens, but instead of requesting to buy, you request to sell, and your tokens will be locked, while notifying the merchant to make payment to the customer. The customer completes the order, and the merchant get the tokens.

Cancelling the sale

If the merchant for some reason don't want the tokens, as soon as he cancels the order, tokens are immediately returned to the customer.