What is the use of Wanjia Coin (What does the Wanjia app do)

What is the use of Wanjia Coin? Wanjia Coin is a kind of cryptocurrency supported by blockchain technology. It can be a digital asset of fiat currency (including Bitcoin, Litecoin, etc.), a digital version of a basket of other tokens, or a decentralized exchange. What can Wanjia Coin be used for? According to the official introduction: Wanjia Coin is an ERC20 standard token on the Ethereum. It has added various DeFi functions and payment protocols on the basis of Wanjia Coin, such as lending, trading, etc. Wanjia Coin has two forms: one is USDT/BTC, the other is ETH/BTC, and there is also a stablecoin similar to BNB, but none of these are real Wanjia Coin. USDT and DAI are anchored at a 1:1 ratio. (Official announcement)

In addition, Wanjia Company can provide various services through smart contracts:

(1) Issuing its own tokens on the Ethereum chain

(2) Allowing third parties to mortgage

(3) Locking users in different wallets

(4) Supporting tools for smart contract development

(5) Creating DApps related to wallets

(6) Supporting open-source software for smart contracts

The seventh type is the automatic market maker model

The eighth type is a platform based on automated market-making mechanism

The ninth type provides liquidity for decentralized applications

What does the Wanjia app do

Editor’s note: This article is from Interchain Pulse (ID: HiveEcon), author: Yuan Shang, authorized reprint by Odaily.

In the world of blockchain, what does the Wanjia app do? Let’s take a look together. 1. Who has a mobile phone to buy Bitcoin, and why should they buy coins? 2, 3, why does Wanjia APP use mobile payment to make money? 3. How can Wanjia afford to sell stocks? 4. Why do Apple and Google both like to play games? 5. How does Alipay make it more convenient for users? 6. What is WeChat? It’s actually very simple—many people who want to know are novices, but they don’t know that the cash in their wallets will become less and less. So we need to put these things in our own hands. For example, a friend asked me if it’s possible to open an online store, and he said that this website is your Alipay. So can he help others do something? Of course, this is just an imaginary scenario. Tencent gave a chart to illustrate:

From the above, it can be seen that Ali’s e-commerce platforms have launched multiple applications. It has been reported that JD Digits has also launched some smart hardware products in the first half of this year, such as Xiaomi’s AR glasses. On February 17th, Baidu Super Cloud launched a new feature called “Open Finance”, aiming to help corporate customers use fintech tools for financing and securities lending business. At the same time, “digital currency” is also one of its core technologies. But it’s not enough. When consumers are not interested in fiat currency in the traditional banking system, it will cause capital outflow. Therefore, by digitizing various assets and storing them in personal computers or smartphones, apps can reduce costs and improve efficiency. Moreover, the complexity of these products and the differences between them enable merchants to better manage risks. 3. How does the Wanjia app make money? Nowadays, many people see Internet giants starting to layout the social field, including Facebook, Twitter, Google, and other companies. However, if you really understand these companies, you will find that their business models are as vague as traditional Internet companies, and even some big companies are not aware of this, so they decided to issue their own Libra, a cryptocurrency based on blockchain technology. However, such claims are not unfounded. In fact, as early as the beginning of this year, the central bank announced on Weibo that it would fully ban all private account transfers. At that time, there was no evidence that Facebook had done so. “We believe that although Facebook has admitted its global influence, to a certain extent, this is a trial and error.” In April, Tencent publicly stated internally that it would ban all forms of virtual trading behavior within 7 years. In addition, some media reported that Tencent has been engaged in ICO activities since its establishment in 2015. At the end of 2020, Tencent officially announced a new project called “2019 China Financial Security Report”. The details of this project show that the China National Information Center was officially licensed in 2019. At the same time, the central bank has released an application instruction manual for cross-border RMB settlement in early October.