Libra project has been announced for nearly half a year. According to the developer community notice on its website, it has started its business as scheduled. However, in fact, Libra is not the first blockchain product to carry out cross-border digital currency payment, either in terms of time or transaction volume. Shell, a blockchain cross-border payment product jointly launched by Triton International Limited (TRTN) and Tether, has been quietly launched for four months.
According to Shell’s official APP, the total daily orders of the entire network is currently close to 340 million, and the total transaction volume of the entire network reaches 100 billion USDT. Since the project party did not make much publicity before, relevant information about Shell is not comprehensive. From the information that has been disclosed, Shell is a blockchain cross-border payment product with USDT consensus as the core mechanism launched by Triton Lab, a blockchain laboratory owned by Triton International Limited (TRTN), in cooperation with Tether Corporation. Based on global cross-border, fast payment and other services. According to people familiar with the industry, Tether has been experimenting with multi-scenarios of USDT applications, and the Shell project has been invested in human and material research and development by Triton International Limited (TRTN) and Tether for a year. It is an international trade field and blockchain The product of the first unity of domain giants. The two sides will definitely use their strengths in their respective fields to turn Shell products into leading products for cross-border payments on the blockchain.
The Shell has evolved rapidly compared to Libra because of its inherent advantages. First of all, Libra’s open challenge to the sovereign states’ right to coin is bound to cause political panic, which will bring great uncertainty and resistance. Once faced with political ban, Libra will not be able to maintain the stability of its digital currency. Secondly, even if the government recognizes the existence of Libra, it will deeply control its development direction. Although Libra has always claimed that it is a currency beyond sovereignty, once it is deeply controlled by the government, Libra will inevitably become a political tool, unable to guarantee its independence. On the basis of block chain technology, Shell completes the capital settlement of international trade through USDT consensus. As an anchor legal currency in the block chain digital currency, USDT has great advantages in the capital settlement of international trade. At present, USDT consensus is adopted to build a sound cross-border payment ecosystem, reduce the settlement cost of international cross-border payment funds, and improve the utilization efficiency of funds. At the same time, Shell has a strong extensibility, will have stronger applicability in the future. Therefore, we have reason to believe that the emergence of Shell will greatly change the existing cross-border payment dilemma, which is a major attempt and breakthrough of blockchain technology in cross-border payment, and the blockchain cross-border payment industry will add a mysterious and powerful disrupter.