With the introduction of blockchain-friendly policies in the United States and Hong Kong, the on-chain of real-world assets has become an inevitable trend.
But currently, blockchain still has a few "shortcomings":
1️⃣ Can't understand what the transaction "wants to say"
Currently, the blockchain only records "who transferred how much money to whom," but does not know the purpose of the money, the identity of the parties involved, or the terms of the contract, lacking a layer of "written explanation."
2️⃣ All details are exposed to the sun.
Mainstream blockchains do not have encryption protection, and transaction data is public to everyone. It would be quite awkward to handle sensitive information such as payrolls and medical bills 😂
3️⃣ Missing compliance "voucher package"
Traditional remittances come with materials such as letters of credit and invoices, and the bank can only disburse funds after review. It is currently difficult for blockchain to bring structured proofs on-chain.
To address the above shortcomings, Mind Network has launched an on-chain encrypted messaging protocol (Encrypted Mes