PlatON: Paving the Way to Become the Visa of Web 3.0

For years, PlatON has been at the forefront of blockchain-based payment innovation. Its enterprise-grade solutions cater to banks, payment institutions and large commercial organizations, positioning it as a crucial bridge between traditional finance and the digital economy. By developing a trustless digital economy through its foundational infrastructure, PlatON has already achieved significant milestones, particularly in creating an efficient payment and clearing system.

The evolution from Web 2.0 to Web 3.0 payments

To understand PlatON’s role, it’s essential to examine the transition from Web 2.0 to Web 3.0 in financial transactions. Web 2.0, characterized by centralized platforms like PayPal and Stripe, revolutionized digital payments by making transactions seamless and accessible worldwide. However, these systems rely on intermediaries, which introduce inefficiencies such as high fees, processing delays and limitations based on jurisdictional control.

Web 3.0, on the other hand, aims to create a decentralized financial infrastructure where users can transact peer-to-peer without relying on traditional financial intermediaries. In this emerging paradigm, blockchain networks play a pivotal role in ensuring security, transparency and trustless transactions. This is where PlatON comes in: developing a blockchain-powered, open-loop global payment infrastructure designed to compete with, and even surpass, traditional payment networks.

"As we transition from the centralized frameworks of Web 2.0 to the decentralized paradigms of Web 3.0, it's imperative to build infrastructures that not only enhance security and efficiency, but also empower users with true ownership of their digital assets," said Lilin Sun, CEO of the PlatON project.

The Visa of Web 3.0

PlatON’s ultimate vision is to become synonymous with the "Visa of Web 3.0." This means building an open-loop global payment network where transactions are executed seamlessly across different platforms without reliance on intermediaries. In the context of Visa and other traditional providers like credit card issuers, an open-loop system allows users to make payments at any merchant that supports the network. Unlike closed-loop systems, which are restricted to specific retailers, such as store gift cards for example, open-loop networks provide broad accessibility, making them more practical for global commerce.

The power of TOPOS: Seamless transactions enabler

While paving the road from Web 2.0 to Web 3.0, PlatON launched its Web3 payment and clearing system, TOPOS (Tokenized Open Payment Operating System) in April 2023 during Hong Kong’s Global Web3 Payment Innovation Forum. TOPOS establishes a global payment-clearing network for Web 3.0 by linking financial institutions to real-world assets (RWAs) through tokenized money. It functions similarly to Visa or Mastercard – not as a direct payment service provider, but as a network standard that facilitates efficient blockchain-based transactions.

PlatON’s TOPOS ecosystem is powered by a handful of key innovations:

• TOPOS MINT ensures regulatory compliance and supports the full token lifecycle, from issuance to settlement.
• TOPOS RemiNet provides efficient, low-cost, cross-border remittances with real-time transaction processing.
• TOPOS On-Chain Payment Acquiring enables secure, instant, multicurrency digital transactions 24/7 on the PlatON blockchain.

PlatON is also already transforming digital transactions with innovative payment methods. QRPAY leverages QR code technology to facilitate seamless transactions. Meanwhile, ZKPAY enhances security and privacy through zero-knowledge proofs, allowing users to conduct transactions without exposing sensitive financial data.

The ‘3T’ approach: Building a trustless future

PlatON recently introduced the ‘3T’ concept – Trusted, Trustworthy and Trustless – to reinforce its commitment to a robust financial infrastructure. As CEO Lilin Sun explains, “The 3T approach is specifically about Trusted Financial Infrastructure, Trustworthy Partners and enabling a Trustless Future Web3 Ecosystem.”

In other words, PlatON is not just another blockchain project; it is strategically positioning itself as the backbone of financial-grade Web3 infrastructure.

How PlatON stacks up: Speed, security and cost efficiency

When evaluating payment systems, three core factors come into play: speed, trust and fees. Traditional credit card networks have long been perceived as faster than blockchain-based alternatives, but PlatON is changing this narrative.

• Speed: The PlatON and TOPOS networks settle transactions in just 1.062 seconds – a processing time comparable to, or even faster than, Visa and Mastercard.
• Security and trust: Thanks to blockchain technology, PlatON ensures that data remains both accessible and secure, with cryptographic mechanisms protecting user funds.
• Cost efficiency: By removing intermediaries, PlatON significantly reduces transaction costs, making global payments more efficient for both businesses and consumers.

The future of Web 3.0 payments

With ecosystem partners like Straitsx and Allinpay supporting PlatON, the project is well-positioned to become a dominant force in the payment industry. As the global financial system gravitates toward decentralized solutions, it's only a matter of time before a blockchain-powered platform underpins financial-grade services. PlatON is poised to take that place.

You can learn more by visiting PlatON’s website: https://www.platon.network/

You can learn more about TOPOS from its website: https://www.topos.one/

Follow the PlatON project on X: https://x.com/PlatON_Network