What is Tong?
Along with the 4th Industrial Revolution, we have also felt the need for many changes and innovations in payment systems. Existing transactions managed their own ledgers, resulting in disputes between participants due to duplication and inconsistency, increased settlement time, and increased overhead associated with brokerage of transactions. However, using a block chain-based shared ledger saves time and money while reducing risk, as it is validated by the Consensus mechanism and can not be changed in transaction information recorded in the ledger.
It is possible to check whether the usage information is falsified immediately by using the block chain. Since all the information is recorded transparently, it is possible to trace quickly what kind of problems have occurred and there is an anxiety in the authentication part due to the characteristics of financial transactions We Can be solved using the block chain. In addition, we have developed a system that allows users to use Tong's payment system to automatically collect and redeem fees and reimbursements at the same time.