PANews reported on November 11 that according to the official release of Conflux, Conflux has launched a blockchain-based payment ecosystem called PayFi, aiming to become the Web3 payment infrastructure for the next generation of consumers. PayFi is positioned as an innovative financial ecosystem that provides new financial experiences through efficient and low-cost blockchain technology, revolving around the concepts of programmable currency, real-time finance, and flow payments.
The Conflux Foundation plans to invest $500 million from the ecosystem fund to drive the development of the PayFi ecosystem. PayFi will cover multiple application scenarios, including consumer payments, creator economy, and supply chain financing, committed to solving the inefficiency problems of traditional payment systems and providing users with more convenient and programmable payment methods.
