Market Pain Point Analysis

User privacy and data confirmation issues

After the third-party payment institution has accumulated a large amount of transaction details linked to actual consumption, it can analyze and mine these data to grasp the customer's consumption ability, consumption habits and other information, and use it for precision marketing, customer management, etc. field; based on transaction records, third-party payment institutions also establish credit reporting systems to provide customers with personalized credit services; and directly connect fund demanders and providers, completing the business closed loop of investment and financing.

However, for each transaction scenario, transaction data records and unlimited use of users, such as personal shopping records, travel records, living conditions, social situations, mobile phone information acquisition and other information will be obtained by the centralized organization, and through the With data analysis, without the user's knowledge or consent, it will be used for the user itself through algorithm recommendation and precision marketing, which will damage the user's rights and interests.

Third-party channel commission issues

Since the current third-party payment involves multiple transaction participants, taking the bank card acquiring business as an example, the transaction fee for traditional credit cards and debit cards is 3%, and the distribution of transaction fees follows 70%, 20% and 10%, of which 70% is owned by the issuing bank, 20% by the acquirer, and 10% by UnionPay. Much higher than the almost negligible blockchain technology payment system fees.

Low efficiency of supply chain settlement

Supply chain settlement is limited by insufficient technical level and the fixity of the old model. Traditional industries are subject to various conditions and constraints. There are many unsolvable problems in the supply chain, from manufacturers to distributors, to retailers and consumers , It is impossible to establish an efficient and transparent collaborative settlement process. Under the existing basic conditions, the improvement space has reached the ceiling, and the phenomenon of information opacity is common, making it difficult for the industry to obtain effective improvement.

Difficulties in sharing desensitized information

At present, there is a lot of room for optimization in the upstream and downstream links of traditional industries, and the voice for accurate and effective information sharing in the upstream and downstream of the entire industry has become more and more intense. In this process, there is no accurate information sharing capability, which makes the quality unable to be guaranteed, and the circulation information cannot be grasped in time. These situations have great damage to the entire market.

High threshold for cross-border payment

As we all know, with the advent of economic globalization, cross-border payment has become a very common thing. However, even with this prevalence, there are still many intractable problems.

First of all, in terms of payment time, the payment cycle of cross-border payment is very long, and each payment often takes a long time, and the long payment cycle cannot meet the current fast-paced market environment; secondly, cross-border payment involves handling fees The problem is that the high service fee has seriously affected the user's enthusiasm for payment, which has reduced many potential payment behaviors and greatly increased the payment cost; at the same time, the complicated and cumbersome payment process has discouraged consumers and affected the development of the industry. brought resistance to market prosperity.

Narrow asset appreciation channels

Narrow channels for asset appreciation and high thresholds for financing difficulties seem to have become common problems around the world. The so-called strong is always strong. For ordinary users and small and medium-sized enterprises, the investment and financing channels are narrow and the threshold is too high, which makes it impossible for them to truly participate in the industry. Although the number of monomers is small, the aggregated amount is extremely large. It is undoubtedly a very extravagant waste of such a huge resource to be idle. At present, there is an urgent need for an existence that can integrate this part of the resource.

Third-party trust issues

Since the emergence of human trading behavior, trust issues have inevitably existed in business transactions. In certain cases, even a lot of energy is required on trust issues, thus leading to an increase in the cost of trust. Due to the widespread existence of trust problems, the development of the market has been virtually slowed down, the efficiency has been reduced, and the opportunities have been reduced.

Offline payment loss problem

At present, digital payment is developing faster and faster, but offline cash payment is still the mainstream, especially when the transaction amount is small. In addition to transaction size, the age of users also affects the proportion of offline payments. In many countries and regions with relatively slow development, offline payment is very common, which brings a lot of unnecessary loss, wastes a lot of time and manpower, and seriously restricts the development of the industry.