Institutional payment companies — such as Facebook and PayPal — take our data and our cash when we use them to conduct transactions. Cryptocurrency eliminates those problems.
In Web2, most online payment platforms such asof around 4%. This, of course, makes it difficult for businesses to stay competitive without raising prices. Not only are crypto payments frictionless, but they’re also gaining traction as a payment method. With stablecoins today, people no longer have to worry about converting to fiat and the hassle of withdrawing funds to their bank accounts.
, raising important questions such as identity authentication without revealing personal, sensitive information.already experiment with the use of zero-knowledge proofs as the solution to prove to the other party that they are in possession of certain information without actually revealing the details.
Companies would also have an instrumental role to play in the world of Web3: ensuring that they are equipped with the latest security solutions to prevent themselves from becoming the target of cybercriminals. Recent occurrences of cyber crimes have seen hackers, as well as the personal private information of customers, which inevitably leads to reputational damage to the organization.
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