BitHalo announces the release of version 2.1 of its decentralized escrow client, adding a new feature that aims to compete directly with companies such as Paypal and Western Union, said the organization in an announcement.
Entitled the "Advanced Payment," the new feature allows simple and secure peer-to-peer payments via email using either Bitcoin or Blackcoin.
The "Advanced Payment" feature is sent from a peer that wishes to contract or send a payment to another. After both parties agree on a password they will use for the pay-to-email transaction, the recipient receives an offer to the email address he/she had provided, followed by helpful instructions to fulfill the procedure and a download link to BitHalo. Upon opening the personal client attributed to the provided email address, the user will have an option to enter the said password and then receive the bitcoin payment.
BitHalo's founder and lead developer David Zimbeck is surfing on the tipping movement, which he believes holds great potential in accelerating widespread adoption of cryptocurrency.
"There’s a ton of utility in the [Advanced Payment] feature," Zimbeck stated. "I tested it on my sister, my friend in North Dakota and a friend in NYC. None had bitcoins before this, now they’re compelled to join the movement and with the ease of a few clicks of a button."
Launched in July 2014, BitHalo is said to be the world's first decentralized smart contracting software. It first supported solely Blackcoin, until August 2014, when the team added a multi-coin capability to support Bitcoin as well.
BitHalo aims to eliminate middlemen, allowing users "to create binding agreements peer to peer without the hassle or risk of involving a third party," explained Zimbeck.
He continued:
"It solves enforcement for most, if not all, types of contracts via both parties sharing in equal risk. [BitHalo] removes profitability from theft or fraud and allows anyone anywhere to trust a stranger."
Halo clients include BitHalo and BlackHalo. Both had integrated NightTrader, a decentralized exchange and trading floor where users can conduct contracts and do business with new and existing parties.
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