Former Vice President of Bank of China, Wang Yongli, pointed out in a post that the integration of blockchain and encryption technology has enabled a single platform to achieve borderless global coverage. The platform's operating rules are built into the system, and there is no longer a need for platform controllers to act as intermediaries. Users register and open accounts on a unified platform, without the need for clearing institutions to act as transfer intermediaries. Instead, payment operations are carried out by the payer themselves, and peer-to-peer direct payments are made with the payee. The platform system participates in node distributed verification, storage, and accounting, ensuring that the entire process is open, transparent, traceable, and difficult to falsify.