The proprietary Escrow System has been a staple for Pecu Novus since 2017 and it has been overhauled with upgrades thanks to MegaHoot Technologies, there are some more upgrades that are being worked on but that will not be introduced until Fall 2022.
The Escrow upgrades integrate limited Smart Contract capability and are integrated into the MVault, so in short when a member is sending PECU on a peer to peer basis via the terminal they are able to place a release time of when the PECU will automatically be released. This has always been a protective feature, because when PECU is transferred its final, so to avoid errors or a mistake the Escrow System was created.
Members when placing PECU in escrow will see it on their Escrow Ledger, it will register on the Pecu Novus Blockchain and place in their MVault, they will also have the ability to release the escrow early or cancel it altogether. All transactional instances will register on the Pecu Novus Blockchain for transparency.
Smart Contracts should be simple to use, so with Simple Contracts on the Pecu Novus Network a member will simply be able to add details of the Simple Contract without having to code. For Developers, there will be a path where they can add code to their Smart Contracts.