oboloo Glossary
The official business definition of a Peer-to-Peer (P2P) Contract is a type of agreement between two or more parties, where each party agrees to provide goods, services, or financial assets to the other party in exchange for something of value. This type of contract is commonly used in the sharing economy, where two or more parties can exchange goods, services, or money without the need for a third-party intermediary. P2P Contracts are also used in business-to-business (B2B) transactions, where two or more companies agree to trade goods or services with each other. P2P Contracts are advantageous because they provide an efficient way to conduct business transactions without the need for a third-party intermediary. Furthermore, P2P Contracts are more secure than traditional contracts, as they are digitally signed and encrypted, making them difficult to tamper with or forge.
