As DeFi sees a rise in popularity, one has to wonder about the whys, and the implications that come along with it. It is perhaps one of the most important inventions in mankind’s history, certainly worthy of its own chapter in the saga of human development and technological advancement.
What makes it so great, however? For one, it is decentralized, as the name implies. The lack of a central figure or authority appeals to many who are aware of the fact that great power concentrated in one area can be problematic for one reason or another. Community-governed projects see a lot of interest because people prefer independence and the ability to have full control over their finances, as well as the privacy and security, and the wide array of possibilities that this technology can provide.
Many have taken to call it the new financial revolution, but as with every such movement, challenges lie ahead, and MetaPay aims to rid of the obstacles that slow down DeFi’s momentum.
What Obstacles Lie Ahead?
The enormous interest DeFi has received throughout the years can be regarded as a double-edged sword, as it has spawned dozens upon dozens of projects, all trying to develop and bring new and exciting concepts into space.
On one hand, this can be regarded as a very big positive, since it results in variety and diversity, with some level of competition, which fuels innovation. Different people looking at the same problem from different lenses is crucial for the health of any field, and DeFi is no different in that regard.
On the other hand, this diversity has also brought about with it a series of walls, boundaries, and barriers that are difficult to cross. Sure, cross-chain bridges exist, but so do gas fees and transfer times, as well as certain limitations that differ on a case-by-case basis.
A New Meta
MetaPay aims to bridge those gaps and reconstruct mobile payments in such a way that assets are traded across multiple platforms such as BTC, ETH, DOT, ATOM, BSC, HECO, OKT, and TRON make it through the other side freely, and at lightning speeds.
While it is possible to perform cross-chain payments today, they are unnecessarily complex for the average user and require varying levels of gas fees to make it possible, and in addition, transaction times.
The alternative that MetaPay is building is an all-in-one DeFi payment platform that simplifies the process and makes it accessible to everyone, regardless of their experiences. With MetaPay, users will be able to save time, effort, and most importantly, significant amounts of assets from the lack of gas fees.
NFTs have become an integral part of DeFi, and have seen an explosion in popularity during the past year or so. Like regular digital assets, NFTs also see similar obstacles and still have room for improvement.
Meta NFT serves as a one-stop decentralized NFT technical support for both digital and real-world assets alike. It is being built with quality in mind and with strong regard for an active NFT community and a digital assets trading platform. Here, users can trade their assets freely in a decentralized environment where liquidity is present, and where cross-chain payments are supported.
The non-fungible tokenization process on Meta NFT has a diverse range of applications that include but are not limited to intellectual properties, artwork, trading cards, collectibles, personal time and/or services, games, domain names, music, and even real estate.
Governing MetaPay is a highly autonomous DAO (Decentralized Autonomous Organization), which helps keep it decentralized while it maximizes the real-world benefits of DeFi and NFTs. Meta DAO advocates decentralized governance and community power and realizes the challenges that lie in adapting to people’s consciousness and habits.
It is designed with scaling in mind, as it is by allowing the DAO to form a significant economy of scale can its global development be truly activated. This includes things like improving corresponding governance mechanisms, tools, and technologies and developing people’s general awareness and habits. DAO has a role to play in global governance, and Meta DAO hopes to showcase and promote this idea with its platform.
DeFi is undoubtedly changing the world, and it is only just getting started. MetaPay aims to facilitate the process of real-world adoption by introducing solutions to the issues that keep DeFi in the various fractured corners of the internet.
It is with simplicity, ease-of-use, security, and of course interoperability and affordability that the process of bringing DeFi under the light of widespread, everyday use is sped up, and those are some of the many things that MetaPay aims to offer.