Author: Zen and the Art of Computer Programming
1 Introduction
overview
Pennies is a cross-border payment system based on blockchain technology, dedicated to solving the problem of financial information asymmetry, improving financial transaction efficiency, reducing costs, and improving user experience. However, as blockchain technology becomes more and more popular and widely used, more and more people are turning their attention to another angle - combining the Internet, the real economy and the digital economy through technological means to create a society of common prosperity. . So, as the world's largest cross-border payment platform, can Pennies play an active role in future business models? Let’s analyze it in this article.
One sentence summary
Pennies applies blockchain technology to the existing payment field and proposes a new business model, which may be a disruptive innovation. It brings a huge user base together, and everyone seems to be very engaged. Pennies is trying to change economic development methods and production relations through technological means to promote the development of global trade. But at the same time, this platform also faces many challenges, such as maintaining efficiency and financial stability, protecting the rights and interests of payers, and regulatory issues.
2. Background introduction
Pennies is a cross-border payment platform founded in 2017. Pennies aims to solve the problem of financial information asymmetry through an open, transparent, and decentralized currency transaction network, helping users improve efficiency, reduce costs, and enhance user experience. By establishing a unified blockchain ledger, the platform enables fast, reliable, safe and transparent circulation of cross-border payments.
Early Adoption Program
In the early days, Pennies relied on the bank credit system for cross-border payments, including debit card payments, bill issuance, etc. This model has the following flaws: 1. Funds are centralized and easily controlled by a single bank; 2. Fund flow is blocked and currency exchange is inconvenient; 3. Management costs are high.