AJM fourth-generation blockchain technology opens a new world-class cross-border payment pattern
The blockchain has been around since 2009, when bitcoins became popular. The blockchain, the underlying technology that underpins Bitcoin, is expected to lead the development of Information revolution, with significant social, economic, and political implications, as evidenced by the advent of digital money.
In the past, people paid and settled through the real money issued by a country’s central bank, which had the advantages of stability and credit guarantee, but the problem was the complicated procedures and slow speed. Electronic payment and settlement systems have since emerged, but still without substantial improvements in efficiency. With the advent of online payment and settlement, efficiency has improved, but at a high cost. In the above-mentioned centralized payment and settlement system, monetary payments and settlements are subject to various rules that require the establishment of bank accounts.
As a product of the fourth generation blockchain technology, AJM is the leader in digital currency with its advantages of point-to-point and decentralized. AJM itself has the cross-regional advantage of being able to bypass central controls for payment and settlement, is geographically unlimited and can be sent around the globe in a matter of seconds. In addition to payment and settlement, AJM will also implement the function of exchange, currently accepted by the public worldwide and recognized ten mainstream currencies, such as Bitcoin, ethereum, ripple currency, etc. , AJM support.
At present, cross-border payment mainly adopts SWIFT mode, which is to exchange standardized finance in a reliable way to help users communicate safely. In the process of cross-border payment, each transaction needs to be transmitted through several agencies, which has the problems of high intermediate cost, low payment efficiency and central security.
The advent of AJM has made it easy for banks, companies and individuals around the world to conduct peer-to-peer financial transactions without the need for a SWIFT-like central manager to make payments across national and international currencies.
Compared with traditional cross-border payments, Ajm has the following advantages:
1. Be More productive
In the traditional cross-border remittance model, the bank will deal with the transaction in batch at the end of the day, the bank will need to check the account manually, the remittance will arrive in a few minutes to several days, even Western Union or Sulian will need more than 10 minutes Cross-border remittances from the AJM blockchain are almost real-time and automatic, and can be made available 24 hours everyday
2. Lower costs
While traditional cross-border remittance costs range from 40 to 1,000 yuan per transaction, the Ajm blockchain has virtually no cross-border remittance costs, and there is no need to worry about exchange rates. In cross-border payment and settlement, the application of blockchain can reduce costs by 81% for each organization’s operating expenses.
3.Lowering the threshold for cross-border payment participants
Not All banks can join SWIFT for financial institutions, and the economic value of joining SWIFT needs to be assessed. Cross-border payments in the blockchain are more equitable and accessible to everyone.
With the rapid development of technology and the change of block chain technology from 1.0 to 4.0, the traditional SWIFT will be out of the way. At present, AJM is overcoming technical difficulties in the hope of creating a global digital bank to solve the world-class problem of cross-border payment. Let’s join Ajm together to create a brilliant future for Pratt & Whitney and achieve a new round of cross border payment growth momentum!
Published at Thu, 21 Nov 2019 03:21:54 +0000
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