Paypal is a giant in the traditional payment field, with a market share of more than 77% in the North American payment market. From the perspective of specific business data, in early August, Paypal announced its financial report for the second quarter of 2023, showing that PayPal's net revenue in the second quarter was US$7.3 billion and its net profit was US$1.029 billion. Although Paypal's net profit declined last year, it has become one of the most profitable companies in the world.
At the beginning of this month, Sam, the founder of Zebec Protocol, explained the development of Zebec's payment business in an interview with the community, and compared the development of Paypal and Zebec's ecology.
Sam said that Paypal began its growth period from 1999 to 2001. It was established by inviting new users to give a $10 reward, and it was established through invitation codes, and became a giant in the payment field after occupying the early market. Its success not only chose the right method, but also chose the right time to enter the market.
When referring to the Zebec ecology, it said that Nautilus Chain is also at the same key point. Zebec is deeply involved in the payment field, understands community building, and relies on Web3 rewards to allow every participant to use pledged products. The ecosystem based on Zebec will build an epic application, which will attract more users, allow users to participate in staking in the ecosystem it supports, and obtain considerable income incentives from the company's long-term development. In addition to the pledge system, RWA is also the second product form of the ecology. In this field, we require applications to use ZBC as the core, and the Zebec ecosystem will also serve as the core adaptation system.
Sam affirmed the development of Paypal, and believed that the Zebec ecology is also at a historic point. In fact, we believe that the brand-new business system achieved with Web3 ideology as ecological development is more capable of capturing users extensively and allowing users to spontaneously participate in ecological construction. Compared with the traditional Web2 payment system, the upper limit of Zebec's ecological development Maybe higher.
More than "Paypal" in the Web3 world
l Make up for the gap in Web3 payment
Zebec Protocol itself is a relatively special payment method, which is implemented on the blockchain based on cryptocurrency and smart contracts. The streaming payment system built by Zebec Protocol itself is a payment method that continuously sends funds (cryptocurrency) from one account to another within a certain period of time, that is, making payments continuous like water flow, such as by seconds , minutes as the payment frequency, and the payment is completed when the total payment reaches the agreed amount. Compared with traditional payment methods, Zebec's flow payment system has all the characteristics of encrypted payment, including real-time arrival, no region, time limit, decentralization, point-to-point, etc., which are the inherent advantages of Zebec Protocol.
At the end of the last century, online payment was in the blank period at the beginning of the rise of the Internet. Paypal established a new growth system with the "invitation code" system, and made up for the early blank of the Web2 three-party payment market at that time. Now, encrypted payment is still in the early stage of development. Only on the basis of the traditional payment system, changing the payment track and payment assets is definitely not the final form of Web3 payment, so streaming payment is also making up for Web3 payment to some extent. Early blank.
l Web3 continues to generate user stickiness
Zebec itself belongs to the Web3 ecology, and it is more inclined to build a marketing system in the form of Web3, and let users spontaneously participate in the construction of the ecology. As Sam mentioned in the AMA, users can participate in the pledge and governance of the ecology based on ZBC tokens, and continue to obtain benefits and rights from it. Zebec uses blockchain technology to realize direct interaction and value exchange between brands and users, users can obtain brand products or services through tokens, and realize seamless cooperation between brands and users. Therefore, it is not difficult to find that the effects brought about by Web3 marketing are usually long-term and continuous.
In addition, this marketing method also places more emphasis on the role of the community. Decentralized autonomous organizations (DAO) allow users to directly participate in project decision-making. This method encourages users to actively participate and enhance brand loyalty.
Zebec itself has established a huge Web3 brand community and built a set of governance mechanisms with the purpose of long-term development. Based on the early accumulation of the Zebec ecosystem, it currently has close to one million testnet users and a transaction volume of one million. At the same time, there are more than 150 applications that want to be integrated into the Zebec ecosystem and achieve early launch. So Sam also said that the biggest goal in August is to be able to open Nautilus Chain to the public, which will lead to the release of multiple applications, such as DEX, Staking, and lending. The arrival of the platform creates an environment to enhance the trust relationship between users and applications in a decentralized manner.
l Different profit destinations
The Web2 business body is a centralized profit-making organization. Usually, after establishing a payment platform, it will charge users a handling fee as platform income. Web3 and Web2 are also quite different in terms of organizational framework. Generally, Web3 advocates fairness and autonomy, and any contributor is an autonomous person.
Zebec Protocol will use the profits it generates to feed back to community users and contributors, such as Zepoch node holders, ZBC pledge participants and other roles will get a share of Zebec Protocol's profits, and these profits will also come regularly Repurchase and destroy ZBC to help ZBC continuously build a value base. Under the intersection, the payment system established by Zebec itself is more attractive and has long-term development potential, which is driven by multiple points.
Based on this, the Zebec ecology may not only be a platform for people to earn income, but it may create a currency for people to get paid. This is a very interesting process, and it is different from other ecosystems.
l Create a new business system with flow payment as the core
Zebec Protocol not only includes the flow payment application Zebec APP, the modular Layer3 chain Nautilus Chain, but also further develops into a new business system.
Zebec Protocol is currently developing into the field of salary payment, and it has launched a new stream payment salary application Wagelink. Company employees don't have to wait two weeks to get paid, our flow-based payroll tool allows them to get paid for their work earlier. Let's say an employee works two weeks and earns thousands of dollars and can receive their pay early through the Wagelink app. Wagelink's long-term goal is to eliminate the gap between the rich and the poor, as well as financial injustice, which is fundamentally different from some Web2 companies that only aim to make profits. After all, the profits of the Zebec ecosystem are fed back to the community.
In fact, many companies have set foot in this field in the field of salary payment, and have more than 1 million users and an industrial value of tens of billions of dollars. Wagelink has now established partnerships with multiple platforms and has more than 1.5 million distribution users. Therefore, the Zebec ecosystem is converting these 1.5 million users into loyal users through a multi-dimensional business system (such as issuing Zebec Cards to them) in the form of Web3.
As a Web3 payment ecosystem, Zebec Protocol is at a new turning point like Paypal. But we have reasons to believe that the Zebec Protocol ecosystem with a new form of payment will go beyond becoming the "Paypal" of the Web3 world.