In the traditional payment model, the transfer of funds is done through bank clearing. The payment workflow takes several minutes to several hours, and intermediaries also charge certain fees. For cross-border payment business, the process is more complicated.

Compared with traditional payment, blockchain payment makes full use of the technical advantages of blockchain. Payments are made directly between the two parties, without intermediary agencies, even if part of the network is paralyzed, it will not affect the operation of the entire system, with higher efficiency and low cost. . Blockchain payments are significantly different from traditional payments in terms of payment structure and reserve accounts.

I think blockchain payment can completely replace the current payment system in the near future. What is missing is consensus.