Recently, there’s big news in the crypto world! A platform called Web3 is making a big move - soon to launch 100 new apps and claiming to turn its digital tokens into a globally accepted 'electronic currency'!
Is Web3 really playing for real?
This platform has been innovating since its inception, creating a mobile mining operation. While others burn GPUs and electricity for mining, this one lets you mine coins just by lying in bed scrolling on your phone. This 'freebie-style mining' has attracted tens of millions globally, and its ecosystem is growing larger, on the verge of becoming a daily-use electronic wallet.
How appealing is this thing for cross-border transfers?
Traditional cross-border transfers can really raise your blood pressure:
Turtle-speed transfers: Bank wire transfers take 3-5 business days, which is considered fast; during holidays, it might just 'get stuck halfway'
Fee chain robbery: Remittance fees + intermediary charges + exchange rate differences can take off layers of skin when transferring $10,000
Proof to the point of madness: Filling out forms, stamping, proving 'your mom is your mom,' the teller's gaze can bore a hole through you
And transferring with digital tokens...
Fees slashed to the bone
Traditional cross-border: $1000 transfer fees can deduct $50 (ouch!);
Digital tokens: On-chain fees could be just a few cents (not enough to buy a bottle of soda);
For example: Sending living expenses to a kid studying abroad, the bank charges you 200 bucks in fees, while using tokens might only cost 2 bucks!
Instant transfers, no tricks
Traditional routine: Workdays + time difference + manual review = waiting until you're bald;
Token operation: Instant transfer 24/7, even at 3 AM it can arrive with a 'whoosh!' sound;
Real-life scenario: Need money urgently for overseas purchasing? Send a token over for instant verification and payment, smoother than WeChat red envelopes.
Bypassing middlemen, exchange rates for our people
Traditional bank exchange rate: covertly adding 2%-5% (and still calling it a 'service fee');
Token gameplay: Exchange directly using real-time rates from decentralized exchanges, with negligible price differences;
International students are thrilled: Paying tuition without getting stabbed by bank exchange rates can save enough for an iPhone in a year.
International remittance is as easy as sending a text
No need to fill out SWIFT codes/IBAN accounts and other inhuman characters;
Just enter the wallet address of the other party (or even scan a code), and the amount is sent with a click;
Real test from overseas workers: Sending money back home is easier than teaching parents to use WeChat Pay.
Privacy protection buff stacked high
Traditional transfers: Banks dig deep into your recipient and amount;
Token transfers: On-chain encryption only shows the address, protecting business secrets (like paying for imports without competitors finding out).
But!
If you’re sending money to black market bosses or terrorists... regulatory authorities will trace it back and freeze your account in no time! Therefore, legal usage is key~
What can 100 apps really do?
I've heard their team has been brewing something big, launching 100 amazing applications that can handle everything from online shopping, financial management to binge-watching shows and booking flights! For example:
In the future, when traveling abroad, just use tokens to book hotels, no need to exchange dollars (Mom no longer has to worry about me getting scammed at the airport exchange);
Want to pay for a membership while scrolling through short videos? Just swipe a couple of times to pay with tokens (no more worrying about credit card fraud);
Cross-border transfers arrive instantly, handling fees? Nonexistent! (International students rejoice);
Moreover, these apps are said to be fully developed, just waiting to launch and make waves. The officials have stated that by 2025, they want to completely rid digital tokens of the 'air coin' label, turning them into practical currency that can buy groceries or hail a cab!
Want to take down Alipay Visa?
Right now, the biggest flaw of cryptocurrencies is that they look good but aren't useful, as they can't be spent except for trading. Web3 is flipping the table: Didn't you say I was useless? I'm just going to create 100 spending scenarios to slap you in the face! If it really works, credit card companies might not sleep well - decentralized payments don’t go through banks, making cross-border transactions instant. Who can stand against that?
However, there are pitfalls along the way...
Of course, some friends are asking:
Will country regulators suddenly turn hostile? (After all, they're touching traditional finance's cake)
Are big players like Taobao and Meituan willing to accept this currency? (For now, we still have to rely on the ecosystem to build itself up)
What if the price goes on a roller coaster, today you can buy milk tea, tomorrow you can only buy a bottle cap? (Stability needs to be stable)
What progress are we at now?
The team says these 100 apps are just to show off to global users, proving that digital tokens aren't just pie in the sky. If they can really connect payment scenarios for daily needs, they might really rewrite the rules of the game. Now, crypto enthusiasts are waiting for the launch, and some are already fantasizing about a future where they can 'travel the world with tokens'...
