Former Deputy Governor of the Bank of China, Wang Yongli, pointed out that the integration of Blockchain and encryption technology now enables a single platform to achieve global coverage without borders. The operational rules of the platform are embedded within the system, eliminating the need for a platform controller as an intermediary. Users sign up and open accounts on a unified platform, without needing to register at clearing institutions. There is no need for clearing institutions as transfer intermediaries; instead, the payer performs the payment operation themselves, achieving direct peer-to-peer payments with the payee. The platform system participates in distributed verification, storage, and accounting through nodes, ensuring that the entire process is open, transparent, traceable, and difficult to counterfeit.