Many intermediaries, lack of standards, low efficiency, lack of transparency, and high costs make blockchain payments promising.

Authored by: 1912212.eth, Foresight News

With the continuous development of blockchain technology, a considerable amount of outdated financial infrastructure urgently needs to be reformed and renewed. Convenient and fast payment methods such as credit cards used by users are actually complex and involve many intermediary processes, with the ultimate cost still borne by consumers.

An example makes it clear how the process works behind the scenes. After the user makes a payment to the merchant, the merchant sends the transaction information to the acquiring bank (the merchant's bank), the acquiring bank sends the transaction request to the credit card network (such as Visa, Mastercard, etc.), and the credit card network forwards the request to the issuing bank (the consumer's bank). The issuing bank verifies the consumer's credit limit and account status, and then decides whether to authorize the transaction.

If the transaction is approved, the issuing bank sends an authorization code to the credit card network, and the credit card network transmits this information back to the acquiring bank, and the merchant finally receives the authorization confirmation. At the end of the day, the merchant submits all authorized transactions to the acquiring bank for batch processing. The acquiring bank sends the batch-processed transaction information to the credit card network, which then distributes the transaction information to the respective issuing banks.

Many intermediaries, lack of standards, low efficiency, lack of transparency, and high costs make blockchain payments promising. Zebec Network is the payment infrastructure for blockchain.

From Zebec Protocol to Zebec Network

Zebec was founded in 2021, initially focusing on building a blockchain payment flow system based on Solana, providing real-time and continuous fund flows for financial transactions (including wages, payments, investments, and purchases).

In February 2022, Zebec completed a $15 million private placement, led by Distributed Global and Solana Ventures, with participation from Lightspeed, Circle, Alameda Research, DST Global PartnersCoinbase, OKX Ventures, and others. Shortly thereafter, in public offerings such as IDO, it raised an additional $13 million, bringing the total financing amount to $28 million.

In March of this year, Zebec Protocol underwent a rebranding, updating its name to Zebec Network. It transitioned from pure fund flow salary payments to a decentralized fund facility for RWA fund flows and released Whitepaper V2.

Its product services include Zebec Card, RWA Payments, L3 Chain Nautilus, DePIN, and asset management, among others.

Zebec Prepaid Card and Debit Card (Black Card)

At the end of 2023, Zebec launched the Zebec Instant Card prepaid card, which is characterized by non-custodial, multi-chain support, and fee-free payments. Zebec prepaid cards are available in over 130 countries/regions and are supported by Visa and Mastercard, allowing users to use cryptocurrencies in their chosen fiat currency for immediate purchases without transaction fees.

In addition, Zebec also introduced the Black Card service, which is equivalent to a debit card, with a fee of approximately 1% and no annual fee. According to official data, over 1000 cards were activated in about a week, compatible with cryptocurrencies such as Bitcoin, Ethereum, and BNB Chain.

RWA Payment Flow Application WageLink

Zebec's WageLink application integrates blockchain functionality into traditional payroll systems, offering near-zero-cost cross-border remittances and USDC salary payments. It also provides salary tools such as advance payments, budgeting, bill payments, and payment cards, all within a unified application.

In May of this year, Zebec strengthened its cooperation with the RWA protocol Ondo and integrated its stablecoin USDY.

According to official data, it has 250 enterprise users, with a total transfer volume exceeding $1 billion, and a monthly active user count of 50,000.

DePIN

As an essential element for Web3 payments infrastructure, physical devices are necessary. Zebec stated in its new Whitepaper that it will introduce POS devices supporting the Zebec Network, specifically designed to provide an integrated cryptocurrency payment processing solution for merchants and consumers.

The device allows direct peer-to-peer transactions through a decentralized infrastructure gateway. The official website has already opened a pre-order window.

L3 Chain Nautilus

In 2023, Zebec developed the L3 chain—Nautilus. Nautilus is designed as a high-performance, modular blockchain optimized to support Zebec's RWA payment flow and DePin infrastructure.

Its architecture uses OP Rollups, with an initial TPS value of over 2000, supporting payments, DeFi, and gaming, among others.

As of now, the total number of transactions shown in the Whitepaper has just exceeded 3.09 million, which still lags behind the leading L1 or L2 chains by a considerable margin.

Zebec Treasury

This feature is mainly aimed at individuals, investors, and enterprises, providing secure fund management through multi-signature wallets and automated smart contracts, and has been audited by multiple security audit institutions.

ZBCN Token Economics

ZBCN token distribution includes 4% for market makers, 6% for public offerings, 9% for seed rounds, 11% for private rounds, 20% for contributors, and 50% for the community and reward portion. After the rebranding, the token name was updated from ZBC to ZBCN, and the total supply of ZBCN tokens was split by 10 times, becoming 100 billion.

The public offering round is immediately unlocked, while the seed round, private round, and contributors have a 6-month lock-up period, followed by a linear unlock over 3 years. Data shows that the current circulating supply is 50.58 billion.

The main uses of ZBCN tokens are for governance voting and functional purposes. In addition to participating in voting proposals, ZBCN can be used as gas fees, collateral for ecosystem protocols, and receive airdrops from certain projects, among others.

Future Roadmap

Zebec's 2024 roadmap includes 5 major areas, with a focus on introducing more partners in the DePIN aspect and strengthening alliances with the logistics and supply chain fields. In the WageLink aspect, it will integrate with human capital management systems (such as ADP and UKG) to simplify the payroll process. The prepaid card will support more public chains and integrate with platforms like Coinbase Pay to enhance utility. In the treasury management aspect, it will strengthen cooperation with RWA protocols to provide asset management for different chains. The last item is to enhance the integration and application of AI in product functionality, strengthening intelligence and efficiency.

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