{"id":78424,"date":"2023-05-08T10:48:00","date_gmt":"2023-05-08T07:48:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78424"},"modified":"2025-09-11T05:01:31","modified_gmt":"2025-09-11T02:01:31","slug":"paxful-co-founder-outlines-plan-to-relaunch-p2p-platform","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/paxful-co-founder-outlines-plan-to-relaunch-p2p-platform\/","title":{"rendered":"Paxful co-founder outlines plan to relaunch P2P platform"},"content":{"rendered":"

Co-founder and CEO of Paxful’s P2P platform, which was shut down in April<\/a>, Ray Youssef said he intends to launch a clone named Civ Kit that is \u201ccensorship-resistant and globally accessible.\u201d The Block<\/a>.<\/p>\n

The entrepreneur outlined plans to create a marketplace for developers and businesses.<\/p>\n

According to Youssef’s plan, Civ Kit, which uses Lightning Network<\/a> and Nostr (the protocol for running decentralized networks), would be \u201cunable to be halted\u201d\u2014anyone could conduct crypto transfers anywhere on the planet.<\/p>\n

Nostr enables end-to-end messaging without servers via relays.<\/p>\n

\n

\u201cWe want everyone to trade with everyone. For example, someone in Venezuela with someone in Russia. [\u2026] Paxful could serve billions of people around the world. My goal is to restore it,\u201d<\/em> Youssef said.<\/p>\n<\/blockquote>\n

Instead of KYC<\/span>, the project will use oracles Know-Your-Peer<\/span> (KYP).<\/p>\n

\n

\u201cKYC is terrible. People want to know who they are trading with, especially for large trades. And this is where we replace KYC with KYP. [\u2026] We will attach reputation to accounts based on the nature of trading activity.\u201d<\/em>, Youssef explained.<\/p>\n<\/blockquote>\n

According to the executive, the need to comply with requirements to return frozen funds to Paxful users led to \u201cspending all the money.\u201d<\/p>\n

In an interview, Youssef confirmed Cointelegraph’s report that a lawsuit was the reason for the P2P platform’s sudden shutdown on April 4.<\/p>\n

Earlier, on April 16, Paxful co-founder announced<\/a> that 88% of user accounts had been unfrozen.<\/p>\n","protected":false},"excerpt":{"rendered":"

Co-founder and CEO{{AOPEN_1}} of Paxful’s P2P platform, which was shut down in April{{ACLOSE_1}}, Ray Youssef said he aims to launch a clone named Civ Kit that is ‘censorship-resistant and globally accessible.’ The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":78425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1526],"class_list":["post-78424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-paxful"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=78424"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78424\/revisions"}],"predecessor-version":[{"id":78426,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78424\/revisions\/78426"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78425"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}