Blockchain technology enables DeFi(Decentralized Finance) services and products to sprout beyond the scope of traditional, centralized financial infrastructure. The possibilities are magnificent – payments using virtual assets, stablecoins, tokenization of assets, crypto-loans, de-centralized exchanges, transaction security and user authentication, and so on. Existing financial networks between various banks and institutions, which was time-consuming and costly, can be safer and quicker through blockchain.
Blockchain Financial Infrastructure
There’s a wide variety of possibilities that blockchain opens for financial infrastructure. Especially, the blockchain technology is expected to enhance access to financial infrastructure for two billion people around the world, especially those without bank accounts. 70% of the population of Southeast Asia being unbanked, blockchain can be the solution to bring them as new Tech-Fin customers with stablecoins.
Luniverse Stablecoin Solution
A stablecoin is a virtual asset with a stable value linked to the price of real assets such as the dollar, gold, or crude oil. Stablecoins are expected to enhance access to financial infrastructure for two billion people around the world, especially those without bank accounts. 70% of the population of Southeast Asia being unbanked, blockchain can be the solution to bring them as new Tech-Fin customers with stablecoins.
The ERC-20, the format commonly used for stablecoins, have some limitations to adopt in our daily lives. First of all, it entails an inefficient cost structure and low usability. Users have to hold some amount of Ethereum to pay gas fee to make transactions using the stablecoin. This could be a major obstacle to general adoption. Besides, there remain performance issues and a lack of revenue models for the stablecoin issuers.
The Luniverse Stablecoin Solution is a gas-fee-free model that offers improved usability of stablecoins at higher performance. Transaction fees are deducted from the transaction volume, which allows the issuer to adjust transaction fees and facilitate integration with DeFi services.
Case. Rupiah Token
Rupiah Token(IDRT) is the most adopted Indonesian Rupiah stablecoin issued by PT Rupiah Token Indonesia in Jakarta, Indonesia. The value of IDRT follows the value of Indonesia Rupiah, backed by fiat reserve in banks. IDRT-L, which is the version issued using the Luniverse Stablecoin Solution, is now listed in Upbit Indonesia.
The need for simpler, faster, yet safer payments is increasing worldwide. Traditional payment systems involve many intermediaries, which lead to an inevitable increase in costs, processing time, and administrative costs. Blockchain-based payments can be a safe and cost-effective alternative, especially in countries where payment systems are not yet advanced. Even in the countries with highly developed infrastructure, they can utilize blockchain in areas where payment details can be transparently disclosed and build trust among participants.
Blockchain Payment /Cross-border Wire Transfer
‘Cherry Hope Sharing Platform, the blockchain-based charity platform, transparently disclose all information about how donations are raised and delivered in real-time. Also, donations are delivered by smart contracts, minimizing the risk of misuse.
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