Yokiiiya, a former entrepreneur, has decided to withdraw from the Web3 payment industry after six months of exploration. Initially attracted by blockchain's potential to enhance cross-border payment efficiency, Yokiiiya conducted field research in Yiwu, Mexico, and莆田. The findings revealed that the industry remains fragmented and functions more as a temporary solution rather than a scalable one.
Yokiiiya noted that success in the payment sector heavily depends on strong bank relationships, compliance, and risk management, areas where small teams often face difficulties. Despite recognizing the long-term potential of Web3 payments, Yokiiiya concluded that the industry requires infrastructure and resources beyond their current capabilities, indicating that innovation alone is insufficient to drive progress.
Entrepreneur Halts Web3 Payment Venture Citing Industry Challenges
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
