Now the payment system will become more important.
The payment market developed rapidly with capitalism. This is because capitalism is a system that develops in scale through consumption activities.
Payment is essential for consumption activities. As a result, various commercial platforms are developing as they create their own payment systems and fintech companies enter the financial sector.
The payment industry further triggers consumption, and these consumption activities are nourishing the capitalist system. And blockchain has arrived in capitalism and the financial industry.
This blockchain is a new system that did not exist before. Until now, most payment systems have been approved through exchange tokens and payment has been made based on the server DB, but the blockchain is not compatible because it uses a P2P-based network.
For this reason, many PG companies, credit card companies, and vendors are trying to combine blockchains, but blockchains such as Ethereum are causing considerable inefficiency due to high transaction fees.
Hug coin is a payment protocol that is particularly highlighted in this part. Hug Coin borrowed the Layer 2 model to significantly cut commission fees on the blockchain, and it combines blockchain with existing server DB-based payment solutions to support transactions on both sides.
we will keep updated on the development of Hug Coin. Thank you for your interest in our project.
