White Paper
Navigating Your Crypto Future
Last updated
Navigating Your Crypto Future
Last updated
The proponents of blockchain have long been asserting that this new form of digital finance will rapidly supplant traditional financial systems like SWIFT, Visa/Mastercard, thereby swiftly ushering in a new PayFi financial paradigm on-chain. At PolyFlow, we take a more nuanced perspective.
While we recognize the potential benefits of blockchain, we also understand that such a transformation won't happen overnight. PolyFlow plays a dual role in achieving its mission and vision of promoting crypto payments. As the infrastructure for PayFi, we focus on providing foundational services to support PayFi projects. Simultaneously, we aim to strengthen connections among people by creating scenarios where consumers can utilize crypto for payments.
This dual approach reflects our commitment not only to reducing costs and enhancing efficiency at a business level but, more importantly, to enhancing utility for crypto holders at a consumer level. In doing so, we aim to advance the use of crypto in payments and strive for a more inclusive financial future.
As we gradually roll out our Season Campaign, starting with the Seed Campaign, we will collaboratively map out a Network State Consumer Guide based on the concept of Network State. This guide will enable consumers to identify regions and merchants that accept crypto payments and earn reward points for their crypto purchases.
This initiative offers merchants the benefits of crypto transactions, including instant settlement, 24/7/365 real-time fund transfers, and lower transaction fees compared to the 1.5-3% typically charged by credit card payments, along with the advantage of no chargebacks and a global reach. Additionally, through PolyFlow's incentives, consumers can access a guide to navigating the crypto landscape, further enhancing the interaction between cryptocurrency and the real world.
The above focuses on "Pay with Crypto," and as we progress further, the "Earn the Future" concept takes shape. It emphasizes financial inclusion and equity by reducing friction in traditional payment pathways through crypto payments. The savings from these reduced friction costs are returned back to consumers as token incentives, similar to the concept of Worldcoin, fostering global unity and universal basic income (UBI).
This approach enhances financial inclusion by ensuring that crypto payments and financial services are accessible to anyone with internet access, thereby promoting financial equity.
Any partner that advances consumer crypto payments will become a contributor to the Network State Consumer Guide, whether you are an exchange, wallet, payment institution, a single merchant or a single consumer. Together, we are building the next-generation PayFi financial cluster.
With this initiative, we are launching PolyFlow Dashboard, which intends to be a central hub for consumers navigating their crypto future within the Network State. Through this Dashboard, consumers can check in and engage in interactive activities to earn points, build an on-chain profile, as well as access the Network State Consumer Guide, thereby further advancing the development of the Network State through crypto payments and on-chain financial services.
Dashboard
Definition: A Dashboard is a user interface designed to display key information and data. It serves as a platform where users can log in and access their account details.
Function: Users can view their accumulated PolyFlow points on the Dashboard. This feature provides users with a clear and accessible record of their points, enabling them to easily track their progress and status at any time.
Through the Dashboard, consumers can not only view their accumulated PolyFlow points but also upload their consumption records using the core interactive feature, “Scan to Earn.” This contributes to the development of a Network State consumer payment network.
Scan to Earn
Definition: This is the core interactive feature of the Dashboard, allowing users to scan and upload their consumption records.
Technical Implementation: It employs AI scanning, and other advanced image recognition technologies. After a purchase, users can simply scan their receipts (such as physical receipts or electronic payment vouchers) using their mobile phones or other devices and upload the records to the platform.
By uploading consumption records, users can earn points or other rewards.
The goal of the Dashboard is to transform every receipt into PolyFlow Points, thereby fueling the future of PayFi. By earning points and unlocking rewards, we collaboratively work toward building a borderless payment infrastructure. Every transaction counts, and each expenditure contributes to shaping the PayFi ecosystem.
PolyFlow is now gearing up to launch the Season Campaign, marking a pivotal step in promoting crypto payments and heralding a paradigm shift in on-chain finance. This initiative highlights the core significance of PayFi as we delve into its transformative impact on traditional payment and financial systems, paving the way for revolutionary changes in how we transact and manage finances.
Here are our primary focus areas:
Payment On-Chain
To fully leverage the blockchain, we must integrate real-world payment scenarios into the blockchain ecosystem. Although crypto adoption rate is on the rise alongside industry expansion, it has yet to reach optimal levels. Therefore, the initial phases of PolyFlow's Season Campaign will focus on encouraging the use of crypto for everyday transactions. This initiative will lay the groundwork for a more widespread and seamless on-chain payment experience.
Building On-Chain Profile
As more economic activities and payments migrate to the blockchain, the data from these transactions will form users' on-chain profiles—PolyFlow PID. Previously, valuable consumer data was monopolized by centralized financial institutions, generating profits for them while remaining inaccessible to users. Now, through decentralization, PolyFlow empowers users to regain control of their data and unlock its potential benefits. Whether developing a personal on-chain credit system or earning income by authorizing data to AI, these will be the focal points of our future Season Campaigns. Our aim is to provide users with true ownership and control over their financial data.
Financial Service for Everyone
Blockchain-based payments signify not only a transformation in payments but also a revolution in financial services. By harnessing the composability of blockchain technology, we can establish a novel PayFi financial service ecosystem accessible to any internet user. This ecosystem will encompass a wide array of services, including payments, savings and wealth management, lending, remittances, and ecosystem governance. Our ultimate goal is to achieve genuine financial inclusion and equality, making comprehensive financial services available to all. This is the vision PolyFlow is committed to realizing through our Season Campaign.
By concentrating on these three key areas, PolyFlow's Season Campaign aims to propel the adoption of PayFi and pave the way for a more inclusive, efficient, and user-centric financial future. The PolyFlow Dashboard serves as this central hub, helping to realize our vision step by step.
"Pay with Crypto, Earn the Future" is more than just a slogan; we are actively implementing it.
We are starting small with the pilot Seed Season, gradually building our on-chain financial paradigm until it evolves into a significant force.
Users can upload their records at.
