Restricted Access & Financial Exclusion
Traditional banking and payment systems are not accessible to everyone due to:- Geographical limitations that prevent people in certain regions from opening accounts or accessing global financial services.
- High entry barriers that require documentation, credit scores, and approvals to access even basic services.
- Dependency on centralized authorities that can freeze accounts, block transactions, or restrict users based on policies.
High Transaction Fees & Delays
Centralized financial services impose various fees that increase costs for users and businesses:- Bank transfers & remittances come with high fees, especially for international transactions.
- Payment processing platforms charge businesses for every transaction.
- Gaming & app store fees take up to 30% of revenue from developers.
- Withdrawal limits & processing delays make access to funds slow and inconvenient.
Lack of Transparency & User Control
Traditional platforms operate in closed environments, where users and developers have little visibility into:- How their funds are handled by financial institutions.
- Revenue-sharing models of centralized gaming platforms and app stores.
- Hidden fees and algorithmic control over digital transactions.
Limited Innovation & Developer Restrictions
Developers who create applications, games, or financial tools on centralized platforms face:- Approval processes & restrictions that limit creativity and access to user bases.
- High revenue cuts from third-party platforms controlling monetization.
- Inability to integrate blockchain payments and digital ownership in a seamless way.