On April 22, 2015, a Chinese student who was going to study in France sent a remittance to a French school at the ICBC(Industrial and Commercial Bank of China) in Beijing. He needed to exchange the Chinese Yuan with the bank for the Euro before the international remittance of the Euro. This remittance usually takes 1-2 business days for the bank to reviewed and 3-5 days after the approval. In addition to the slow remittance time, in the process of wire transfer, he also needs to pay 1% (not higher than 250 yuan) standard handling fee and telecommunications fee (about 80 yuan).
Imagine if you are a consumer and you want to buy a pair of British boots on eBay in the UK, but you don’t have a UK local credit card, you can’t open a PayPal account for local payments, and if you buy this item by bank transfer, the fees you spend may be higher than the goods themselves.
Is there another way to make cross-border payments faster and cheaper, making transnational daily consumption more convenient and efficient?
In 2017, the blockchain appeared ordinary people’s views. Bitcoin was recognized as the first cryptocurrency, and its global circulation made people see the hope of convenient global payment. But no matter whether in technical or trading aspects, Bitcoin can’t really become a “global currency.”
Not long ago, JP Morgan, the largest financial services institution in the United States, announced to launch a “JPM Coin” similar to a stable coin for wholesale payment (Wholesale Payments, inter-bank or inter-country payments) Instant transaction settlement between customers.
Previously, Ripple, which has been working with the R3 Alliance for many years, its cryptocurrency XRP is also used to promote faster, lower-cost international payments, and is the third-largest cryptocurrency market with a total market capitalization of approximately $12.6 billion.
However, this encryption scheme, which is dedicated to solving the problem of cross-border payment between banks in the world, has been slow to move and even has the risk of dying. Because the technical architecture of their design is still immature, especially the envisaged application scenarios cannot meet the future consumption trends and daily needs of the “global village”.
Whether it is the obscurity of blockchain technology before 2017, or the turmoil in 2017, or the winter of 2018, the blockchain technology itself has not been abandoned by the world. On the contrary, blockchain technologies have been more deeply recognized and recognized by the world as new technologies and new revolutions in the future world.
Industry plus blockchain technology will undoubtedly be the general direction of the future development of the blockchain industry. With the application of blockchain technology on a global scale, blockchain + payment will become the most realistic demand in people’s daily life.
The market needs can be met by technology, this is the status quo of blockchain payment, and why Paydex (V payment) enters people’s field of vision.
Paydex (V payment) was developed by the original Ripple founding team, which is a core cryptocurrency payment channel based on the Vtoken public chain.
As we all know, the Vtoken public chain is the most suitable for the payment gateway in the underlying technology of the blockchain. It has a very high TPS value (transaction speed), which is better than the processing speed of EOS, it not only combines Ripple, Stellar and graphene underlayer technology but also has the same trading gateway as the gateway between fiat and the cryptocurrencies.
Thus, Paydex (V payment) was born, it inherits two advantages of Vtoken:
- A wider range of application scenarios. It will use the global mobile payment users as the entry point, and at the same time meet the needs of user’s payment, landing merchant consumption, online shopping malls, major game platform consumption, various blockchain transaction media and others, becoming a real-time flexible settlement blockchain payment ecosystem.
- Safer and more convenient payment settlement. It will perfectly support the payment of all cryptocurrencies including BTC, ETH, Vtoken, VPC, USDT, VRT, YEC, EOS, LTC, VUST, etc., and use the blockchain features of point-to-point, cannot be deleted and tamper-proof to make every transaction secure and confidential.
From the current situation of global blockchain development, whether it is the R3 alliance, the upgrade path of Ethereum, or the public chain revolution initiated by EOS, the blockchain has always been difficult because they have a common weakness, the lack of a global ecosystem.
As a result, Vtoken integrates all the advantages of other projects on the basis of mergers and acquisitions and proposes a complete set of global full-plate ecology, and Vtoken is the token for Paydex (V payment) to provide a bridge link for different application scenarios in the entire ecosystem.
Meanwhile, the Vtoken ecosystem will dock all application scenarios such as traditional enterprises, online and offline merchants, online malls, entertainment malls, etc., making the actual application scope and value of Paydex far greater than the platform coin or stable coin in the market.
Paydex (V payment) corresponds to the fuel mechanism and the acceptor mechanism in the Vtoken, and any payment operation in the ecology will consume Paydex. In this way, the more complete the entire ecosystem of the blockchain is, the more valuable Paydex will be.
Besides, unlike other types of token mining, since each node is a clearing gateway in the Vtoken ecosystem, Paydex, a high-frequency payment tool, will easily realize that everyone can act as an acceptor and enjoy the dividends brought about by the circulation of assets.
In 2019 is the digital age we are in. It is an unprecedented period of rapid development of human civilization. We can’t imagine what the future will be.
Paydex (V payment) is to become the world’s most credible and efficient decentralized cryptographic payment tool, changing the high traditional mobile payment transaction fee, opaque payment information, default risks, etc., making payment simple and safe.
In the near future, under the incubation of Vtoken world-class public chain, V payment will be a global digital circulation payment medium and become an essential artifact for digital payment to the world.