SINGAPORE, Oct. 02, 2024 (GLOBE NEWSWIRE) -- During Token 2049 in Singapore, XPIN Network hosted a specialized event focused on decentralized communication and payments. The event brought together Web3 experts and explored how the dual force of DePIN and PayFi is poised to drive the future economic ecosystem.
XPIN Network’s Founder and CEO, Riva, delivered a keynote speech on DePIN and PayFi. She highlighted that the integration of DePIN and PayFi within the XPIN Network ecosystem establishes a self-sustaining economic model, enabling users to enjoy seamless connectivity while earning tokens through decentralized payments and mining.
The following panel discussion focused on the future of DePIN and PayFi development.
DePIN Mass Adoption
Riva joined Andrew, Head of Growth APAC at IoTeX; Kobby, Investment Director at Fenbushi Capital; Dinghan, Partner at Jsquare; and Kevin, Founder of Bitrise Capital, in a panel titled “DePIN Mass Adoption”. Moderated by Stimo, Post-Investment Director at Foresight Ventures, the discussion centered on the current state of DePIN, its technical and market challenges, user adoption, and collaboration opportunities with traditional infrastructure providers.
Riva emphasized that simplifying the user experience is key to driving DePIN adoption into the mainstream. XPIN Network’s eSIM and Power Bank offer global connectivity with simple operations.
Dinghan noted that DePIN projects require sustainable business models to enhance existing infrastructure.
Kobby stressed that utility and financial returns are crucial for user participation. He also highlighted the role of privacy computing in DePIN’s future.
Andrew pointed out that high entry barriers and incompatibility between projects are significant challenges, and IoTeX’s modular solutions can lower these barriers, promoting broader user engagement.
Kevin emphasized the importance of token incentives for early-stage user acquisition, suggesting that more blockchain application scenarios be developed to accelerate adoption.
PayFi: The Next Big Opportunity?
In a second panel, Riva joined Tudd, Investment Director at NGC; Ciara, Founder & Managing Partner at C² Ventures; YZ, Partner at CGV; and Marco, Co-founder of Vishwa, to explore the potential of PayFi. Moderated by JJ, Director of Business Development at Astherus, the discussion covered PayFi’s financial impact, its exploration of the time value of money, and its distinction from DeFi.
Riva explained that PayFi optimizes payment efficiency, accelerates currency flows, and addresses DeFi’s limitations in rapid fund transfers.
Tudd emphasized PayFi’s contribution to liquidity and transparency in the time dimension of funds.
YZ added that PayFi’s integration of staking and consumer scenarios helps bridge Web2 users into Web3 applications.
Ciara highlighted that PayFi maximizes the time value of money, bringing more on-chain asset opportunities through RWA while mitigating volatility risks.
Marco stressed the critical role of PayFi in liquidity management and fast transactions, especially in volatile markets, noting that Vishwa’s real-time liquidity release helps users complete transactions swiftly.
Through this event, XPIN Network successfully spotlighted the latest developments and prospects in DePIN and PayFi, driving in-depth discussions on the next-generation economic model. As DePIN and PayFi continue to innovate and gain adoption, propelling the global economic ecosystem towards decentralization, efficiency, and transparency.
About XPIN Network
XPIN Network is a blockchain-based decentralized wireless network platform that integrates DePIN and PayFi to offer efficient, convenient network and payment services to users worldwide while reducing costs through decentralization. XPIN Network recently launched its eSIM service via a Telegram mini app, allowing users to activate high-speed network coverage in over 150 countries with just a QR code, coupled with airdrop incentives. The upcoming XPIN Power Bank presale will offer a device that allows users to connect, charge, and earn rewards anywhere, supporting network coverage in over 200 countries with automatic switching to the high quality local network.
Users can learn more about XPIN Network and stay up-to-date with its developments here:
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Contact
Liora
XPIN Network
media@xpin.network
