South Korea's Terra stable currency payment network online, will become the encryption of the world's alipay?

On April 25th Terra launched its payments network. Specifically, it is releasing its main network 1.0, called Columbus, a blockchain that will be the basis for its payment solutions. In may, Terra will offer a payment network to its e-commerce partners in South Korea. And it will soon roll it out in Asia and the rest of the world.

Terra is both a stable currency and a payment network. Terra is a stable currency that can be pegged to most fiat currencies, including SDR, us dollar, Korean won, Japanese yen, euro and RMB.

Terra founder Daniel is also the founder of TMON, a leading south Korean e-commerce platform with $3.5 billion in website sales. That means Terra is backed by the south Korean e-commerce giant, which will give it a huge user base.

Maybe in some parts of the world (the us, for example, doesn't have a "problem" in itself -- payment services like credit CARDS, PayPal and Stripe work). But in many other parts of the world, these payments are not seamless. Many user experiences are terrible, merchant recognition is low, and cross-border (and even domestic) payments are cumbersome and expensive. Terra is trying to address this problem, first in Asia and then worldwide.

It is planned that Terra will first provide services from leading Asian e-commerce sites such as TMON(Korean e-commerce site, similar to Tmall), Woowa Brothers (Korean food distribution company), Tiki(Vietnamese e-commerce site) and Carousell(Singapore e-commerce site). In addition, customers can receive discounts of up to 10 per cent per transaction.

For businesses,They can generate more sales -- by providing customers with a better spending experience and reducing the friction of payments, resulting in higher conversion rates. And merchants pay lower fees -- as little as 0.5 percent -- than they currently charge Banks to pay by credit card.

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