The wheels of world development and the pace of human civilization will never be stopped, and mode of payment acts as the way of payment to reflect the height of scientific and technological development of an era.
Whether exchanging of goods, animal bone shells, self-coined money, or paper cash, they are closely related to the development of civilization and science and technology. A few decades ago, people almost always went out with cash. And now there are countless number of people who go out without cash. Credit cards, debit cards, third-party electronic payment methods make everyone gradually out of using cash.
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The widespread use of smart phone further promotes the development of electronic payment system. Global smart phone users grew to 3.2 billion in 2019, with year-on-year growth of 8.3%. In 2020, the number of globally active smart phones will grow to 3.8 billion, with year-on-year growth of 7.6%. By 2022, global smart phone users will reach 3.9 billion, with an average compound growth rate of 7.8 percent in 2017-2022. Increased usage and adoption of smart phones help broad expansion of electronic payment systems in using cases. It is estimated that the total market share of electronic payments is about $79.2 billion, and the total market share of e-payment ecosystems will reach $154.1 billion.
Today, however, there existing obvious pain points in traditional electronic payments: including high payment fees, inefficient and costly cross-border transfers, poor inter-community of different networks, and hidden dangers of security and privacy in the operation mode of the central organization, which has led numbers of practitioners to explore solutions urgently. However, PayYoda is born to solve these pain points.
And in short, what is PayYoda?
As a safe, transparent, professional decentralized payment application ecology, PayYoda is supported by blockchain technology, big data, AI and other high-tech drive. Using blockchain distributed storage open, fair, transparent, traceable, non-tampering and other technical advantages, PayYoda will greatly reduce the cost of payment, reduce intermediate links, and improve circulation efficiency. PayYoda team regards blockchain technology as the fourth revolution after steam, electricity and the Internet. With these ideas, PayYoda aims to meet existing payment methods and innovative solutions for distributed and decentralized ecosystems.
As the Internet evolves and develops, transition from cash payments to cashless payments also accelerates the avalanche slide of traditional payment systems. The emergence of PayYoda is to break the traditional payment method and make users pay more attention to timeliness and authenticity of payment transactions. Unlike traditional payment methods, PayYoda will create a fire-new distributed decentralized accounting system, for allowing free flow of information and value of all these decentralized distributed books, where PayYoda acts as a carrier of value circulation among different systems.
What’s the advantages of PayYoda?
PayYoda pays increasing attention on providing payment protocols and open source development platforms, for faster access to payment agencies/channels to solve related problems or meet related needs with low-cost use of blockchain technology; Through a set of simple, practical and operable blockchain payment technology solution, it enables developers to expand and redevelop on this basis; At the same time, it links the related industrial chain to establish a block chain decentralized payment ecosystem with clear division of labor, which can improve social efficiency and reduce related costs.
Nowadays, PayYoda’s advantages are becoming increasingly prominent in credit-driven ecosphere, open and transparent traceability, decentralized payment chain, artificial intelligence-based security trading system, and decentralized governance ecology,etc. Driven by block chain, big data, AI and other digital technologies, PayYoda accelerates the digital transformation of real businesses. It also brings a new inflection point for third party payment to break through the bottleneck of stock
How does YOT (Yoda Token) work?
YOT can trade on third-party trading platforms and decentralized exchanges to promote liquidity of assets. YOT is available to intelligent communities within the PayYoda, DApp ecology and global businesses. Through PayYoda decentralized trading platform, user can carry on the transaction of token of holding merchants, transform into the YOT or other merchant’s Token, and realizes the exchange and circulation of Token.
The construction of PayYoda ecology cause more use and demand of YOT. And the total is constant, so that it will drive price growth of PayYoda. At the same time, price increases will also make more people aware of PayYoda ecology and promote the landing of the system. Growing merchants are willing to accept payment of PayYoda Token and the sustainable ecological development will be formed eventually.