On April 23 to 25th, PlatON was present at Asia Money 20/20 where the discussed extensively on web3 Payment solution and how they planned on refining or rather break barriers across cross-state payment while ensuring regulatory body is always obeyed and one of the discussion had was TOPOS ZKPAY
What is TOPOS ZKPAY?
This is a digital payment solution that utilizes zero-knowledge proof (ZKP) technology, allowing it to verify the validity of transactions without disclosing any transaction details. This system not only maintains user privacy but also complies with regulatory standards where necessary.
The concept of money is changing in a geometrical progression and while it has become somewhat of a decentralized nature via the concept of blockchain and it various technologies, it also became somewhat hard to accept via banking sectors, and other financial based sector that depend on privacy regarding their daily records and what have you.
The concept of blockchain allows users to verify transactions via blocks which can not be altered or modify, meaning at every point in time one can verify a particular transaction irrespective of their location, while this might be seem all good and well, it becomes somewhat hard to handle delicate transactions away from the eyes of the public and this is where TOPOS ZKPAY comes in. By following all governing regulatory rules and regulations, users will be able to perform transaction which can be verified at any point in time without disclosing it's transaction details.
The above can be applied to banks who probably had a successful sales of shares or what have you and would like to send the details to the other party, this can be carried out via a trusted system (blockchain) and TOPOS ZKPAY would ensure all details involved are hidden from any party not involved. The concept from my point is simply remarkable and definitely a game changer to the fintech world. I for one can't wait to see how this on plays out in coming years. As usual, don't forget to follow PlatON on their various social medias to stay involved of every updates that happens.