What is gPay Blockchain (Is gPay Blockchain?)

08/15/2023 12:13 • Metaverse & Beyond • 151 views

What is gPay Blockchain? gPay Blockchain is currently the earliest domestic solution for electronic cash systems based on blockchain technology. Through this method, payment and collection processes can be digitized, greatly reducing transaction time. After using this system, users can use their mobile phones to scan QR codes to complete cross-border transfers and directly receive funds.

It is understood that on May 29, 2017, the Mobile Communication Association of China established the “Digital Economy Innovation Application Alliance” to promote the integration and innovative development of new technologies such as the Internet and the Internet of Things. It initiated the establishment of the Alipay ecosystem under “Ant Financial”.

Is gPay Blockchain?

Editor’s Note: This article is from BlockBeats (ID: blockbeats), authorized to be reposted by Odaily Planet Daily.

“Is cryptocurrency payment the next breakthrough for blockchain?” This is one of the concerns of people.

In December 2017, after the birth of Bitcoin, it received widespread attention and enthusiastic response. “Ethereum” became the largest digital asset in terms of market value because it was used to process various transactions. In July of this year, it launched its own mainnet called “g”, aiming to solve existing pain points such as remittances and cross-border settlements. “g”, as the abbreviation of blockchain, is a decentralized ledger protocol that allows different types of funds to circulate through smart contracts. “g is an open-source platform that can achieve instant, transparent, and fair exchange of fiat currency. It also supports real-time transfers between multiple wallets, and each transaction is confirmed using the same address.” In fact, many people still don’t know how to use blockchain technology. So, why develop an application that allows users to make quick payments and is free of transaction fees? Let’s analyze what this application is in simple terms:

1. What is a blockchain-based electronic cash system, also known as an automatic payment card or asymmetric cryptographic currency?

2. Under what circumstances is a new form of identity verification needed to record information?

3. Under what circumstances is blockchain needed to authenticate data?

4. Can blockchain ensure that personal data will not be leaked to anyone else?

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What is gPay Blockchain (Is gPay Blockchain?)

Is gPay Blockchain?

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