GST believes that DeFi fits well with payment scenarios and payment ecology will be the next flow inlet for DeFi
October 22, 2020 /PressReleaseAgency/ —
DeFi is always around block chain industry in 2020. Roaring across the horizon, DeFi leads a new bull market in encrypted assets in 2020. Total value locked of DeFi soared from $700 million at the beginning of the year to $8 billio. DeFi is opening a new era in finance.
DeFi, the abbreviation of Decentralized Finance, means decentralized finance, mainly referring to various of financial products established on the block chain. Compared to traditional finance, DeFi is more open and inclusive. First, DeFi does not need to provide credit intermediary or endorsement by depending on any central subject. Second, it has no access restrictions, that is, anyone connected to the Internet can access; Third, DeFi is based on cold wallet so that neither third party can stop any transaction, nor can it reverse any transaction.
Compared to Bitcoin's point-to-point e-cash payment concept, it can be the earliest DeFi project. When it comes to payment, we have to mention "payment finance ". By providing users payment services, by virtue of the user's payment network, it opens marketing and experience of financial services, with modes of multi-purpose financial services, namely "payment finance ". "Blue Sea Strategy", Transfer Payment, Social Crowdfunding, P2P and Credit in Financial Markets all belong to payment finance.
Therefore, GST believes that DeFi fits well with payment scenarios and payment ecology will be the next flow inlet for DeFi
The essence of DeFi is decentration. As a public payment chain with public and technical trust, GST is a highly adaptable decentralized payment infrastructure, which is fit to DeFi.
GST integrates wallets, swiss pass, payment mining and decentralized payment systems into a variety of decentralized platforms compatible with aggregation DeFi, to open the trusted authentication channel between centralization and decentralization, activate payment channels for DeFi、DEX、CEX and other application scenarios, and build GST payment ecosystem with developers and industry chains.
Access to rich merchant, personal KYC and databases, GST can directly log users’ information to the third party in case of user confirmation. And cooperating with multiple certification bodies and assets, it can identify asset entry system under accounts, assist ecosystem partners improve asset liquidity and trading capacity, and create block chain world credit points on the basis of the above data.
Platform resources and conditions of GST attract resources such as materials, funds, talents, technology and information from all countries to gather in the ecology. The strong consensus promotes and drives the development of DeFi related industries and eradiates generated and expanded economic energy to the surrounding area and beyond. In the process of GST aggregation, each resource element achieves value through efficient, orderly and standardized flow and then to promote regional economic scale expansion and sustained economic development through the cycle of traffic.
This is the huge energy brought by payment embedded finance. GST, as a representative platform of block chain payment industry, will inevitably take over the baton of DeFi and bring more valuable landing development to decentralized application DeFi, promoting the unlimited expansion of block chain finance with payment as core.
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Source: PressReleaseAgency
Release ID: 88981993
