A <u>peer-to-peer</u> services act as a middleman that is allowing individuals to securely send and receive money.
<h3>What is a
peer-to-peer services?</h3>
It refers to the decentralized platform whereby two individuals interact directly with each other without an intermediation by a third party. Rather, the buyer & seller transact directly with each other via the P2P service. The P2P platform also provide services such as search, screening, rating, payment processing, or escrow.
As the platform directly connects parties to a transaction without the third-party intermediary, it leverage on technology to overcome the transaction costs of trust, enforcement and information asymmetries that have traditionally addressed by using trust third parties.
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