In the current state, traditional payment systems hardly cope with their work: the speed of operations is low; The cost of a transaction depends on many parameters and, as a rule, is quite large. The ubiquitous transition from cash to payments in a cashless form leads to an avalanche-like expansion of the structure of payment systems. Increasing complexity, reduced security, control and maintenance of the channels, network nodes and data centers require serious resources.
The peculiarity of the ERTC payment system on the blockchain is secure transactions, which do not require the institution of third party trustees. A distributed registry reliably stores data on transactions and is currently deprived of the need to confirm transactions from a payment operator — this is the solution to many problems of old payment systems.
For transfer or payment via blockchain, it doesn’t matter how many state borders it crosses — this will not affect the speed or the cost of the transaction. The data that the parties send via payment blockchain systems are not at risk of disclosure, since during the transfer they do not fall into the hands of intermediaries.
The ERTC payment system can be used by people who do not have accounts in the banking system — the Internet and a simple smartphone are enough.
Sellers can offer their goods and trade them with consumers from every corner of the globe — without bank accounts, without waiting for a cross-border transfer, without high transaction fees.
Sales points, online stores, retailers — for any type of commercial enterprise, the implementation of the ERTC payment system is easy and does not require significant investments.
The backbone institutions of financial systems are also interested in technology that will simplify and make their work more reliable — public authorities and financial regulators show a keen interest in the ERTC.