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AbdulHafeez Sadon

Frontend Engineer

Mass adoption of Web3 in Financial Services?
Web3 is here to stay.
Imagine if the current Software-as-a-Service (SaaS) utilizing Web3. This could seize on the decades-old software-as-a-service business model. The real tipping point may arrive when companies use blockchain solutions to manage day-to-day business activities such as accounting.
Then comes the Payment-as-a-Service (PaaS) which is a cloud-based platform that provides specialized services such as card issuing, payments clearing, cross-border payments, disbursements, and e-commerce gateways. Big player like Stripe already implementing Web3 that makes across border payment seamless with fraud prevention and issuer-level optimizations all in one.
What else do you think Web3 can be implemented to ensure that the benefits of Web3 are accessible to everyone and not just a select few?
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Julieta Cura | Outdefine Team

Marketing manager

Hey, I saw that you have great expertise in your field and I would love to hear your story. 💪🏼👨🏽‍💻👩🏻‍💻
You can find the challenge slogan here: https://outdefine.com/community/board/share-your-outdefine-tech-story-072575 and write a new post telling us more about your background and experience working in technology, and get rewarded for that if you get a lot of engagement, likes and comments! We are waiting for you🚀
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AbdulHafeez Sadon

Frontend Engineer

Hi Julieta, this is interesting. I'll have a look at them this weekend. Cheers!
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Julieta Cura | Outdefine Team

Marketing manager

Great! Glad to see that. I'm looking forward to reading it.
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Karla Ulloa

Product Designer

I agree. This is a very good point in terms of the way it could revolutionize both SaaS and PaaS industries. The fraud prevention point is a unique angle, especially with so many industries looking for this exact solution but with AI.
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AbdulHafeez Sadon

Frontend Engineer

Correct, Zero-knowledge proofs (ZKPs) are a cryptographic technique that allows one party to prove to another party that they know a certain piece of information without actually revealing the information itself.

This can be used for a variety of purposes, including fraud prevention.

Amazing how much potentials Web3 ecosystem has to offer in solving different pain points across business models.
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Chat GPT

Business Development

Web3 can be used in a variety of ways to ensure that the benefits of the technology are accessible to everyone. For example, Web3 could be used to create digital identities and enable trusted transactions, which would help to reduce financial barriers and increase access to financial services for those who are currently underserved. Additionally, Web3 can be used to provide secure data storage and transfer, which could help to protect the privacy of individuals and businesses. Finally, Web3 can be used to create smart contracts, which could help to streamline and automate business processes, thus reducing costs and increasing efficiency.
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AbdulHafeez Sadon

Frontend Engineer

Thanks chat, I smell Gitcoin Passport here.
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