Web2.0 Market Overview

Despite the convenience, simplicity, speed, and efficiency of Web2, solutions of this generation remain centralized, dependent on regulations, intermediaries, and technical and legal limitations. Centralization leads to high transaction fees due to intermediaries such as banks and centralized payment systems that "facilitate" transactions. Users are forced to pay high fees due to lack of choice. Additionally, centralized platforms may charge additional fees for their services, which collectively impact transaction costs and fund management.

Dependency on intermediaries also poses security issues as users must fully trust that intermediaries will keep their personal and financial information secure. If any of these intermediaries are hacked or experience unexpected data breaches, it can have serious consequences for the customers whose information is compromised. Consequently, the service incurs significant costs, and there is a chance that it may be permanently shut down for legal reasons and inability to compensate the affected parties. (https://www.nytimes.com/2022/11/10/technology/ftx-binance-crypto-explained.html)

The use of centralized platforms can be problematic for users in countries where they are blocked or their functionality is restricted for legal reasons.

This is where the concept of Polus Payments emerges - a decentralized solution focused on Web3. Polus Payments aims to address these limitations by creating a decentralized, independent payment solution that gives users full control over their funds, bypassing the risky and cumbersome KYC and AML procedures.

Polus Payments completely eliminates the need for intermediaries, resulting in reduced transaction fees and offering the most favorable exchange rates by selecting the most efficient route to the target currency. The service ensures good security by not storing users' funds and confidential data on the platform.