Blockchain incorporation for better payments
This is something InLeo have been working on and it seems only few are really getting that glimpse. The future of transaction is evolving and soon it will be transfer any amount at any convenience time. This is happening in Hive and other web3 ecosystem and will soon go global. Transaction will be in an unending rise, you have to consider the future of human population and demand. Digitalization has opened doors for global businessing. This is something that was very rigid some years ago.
The rise of social media and high speed Network has helped solve many of this issue. And NOW comes blockchain, cryptocurrency, web3 and artificial intelligence. Talking about ALL these potentials will take volumes of book so I will have to curtail for the sake of this article. I have discussed several parts of this article in recent ones; how online stores will boost web3. From here it lead to addressing the issue of transaction and micropayments. Of course entrepreneurs are known for transactions and phasing off rigidities is where micropayments will thrive from.
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Adding to that, I went forward to discuss how micropayment equals easy funding; my emphasis was on the best definition of a satisfying transaction. This is where micropayments also sits in very undisputed. If I can’t send what I want at anytime then what is virtuality and digitalization all about? A big question with answers that web2 and its centralized cohorts have not been able to answer or perhaps not interested to give attention. I said these guys are always after their charges so the set minimum transaction amount for transfer and withdrawal. This will soon fold up.
So yes, micropayments will be needed but how will it thrive efficiently? Have you seen the idea of inleo incorporating other ecosystem into its chain? This is just something similar. Foe micropaymens to thrive, web3 must operate as an incorporation. This will bring speed, efficiently, user trust and ease of financial access. Little tippings overtime accounts for much but how do you get to access this financial aid or support assuming it was done through diverse web3 ecosystems or frontends?
Let’s take for instance and individual got tipped for a project and the total worth was around $200 dollars but this cuts across ten difference chains. Have you seen how scattered the finance is right NOW. For it to make sense, he will have to accrue it into one account. This is where the incorporation I was talking about will make sense. Consider how things work within the Hive ecosystem; someone can tip you in hive token, LEO token , cent, neoxian and the rest of it and you can convert all to HBD or any form of this assets class depending on your purpose (withdrawal or reinvesting).
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The entire web3 ecosystem must not be siloed or it might lose future attention. We have to understand that this incorporation activities opens doors for more DEX transactions, something very welcoming. First, it will teach new web3 users how to go about trading on the web3 ground; indeed, a knowledge worthwhile overtime. Secondly we have to see how this adds volume and market liquidity for daily transactions. Of course it will come with some form of minimal fees, we are looking at a boost on both price here and utility. Diverse micropayments must be easily accrued to become tangible; it will be a big hedge overtime.
To conclude, let me add, I have had such experience with my traditional bank accounts before where I get restricted from using my small balances. Lets say for instance I wanted to buy an airtime and I was low in cash, I had N26 in four different accounts. Of course this can give me a N100 airtime recharge. Will I be able to access them? NO, it doesn’t reach their minimal withdrawal. Then what makes it my money? The issue of control needs to be addressed in the realms of finances. I see micropayments stepping in through web3 since this is the true ownership part of networks. Indeed one big opportunity opening up, can web3 developers and investors make the most of it?
Posted Using INLEO