Climate and environmental problems are becoming more serious as temperatures rise and natural disasters occur in one place after another. Instead of turning a blind eye to these conditions, residents are becoming more aware of their consumer habits and seeking to find more sustainable ways to meet their needs. Likewise, brands have also committed to reducing their presence.
While most companies have taken a more solid stance, the payments industry has lagged far behind. With so many new players and payment methods joining the race, their mindset was geared towards making money without feeling socially, environmentally or financially responsible.
Since then, this thinking has become clear due to the high cost of these services to users. The asymmetry between exposure and CSR continued to grow until the world became familiar with the concept of blockchain technology. With a blockchain, it is possible to gain access to an additional layer of transparency, which, when used correctly, results in reduced risks.
In addition to unparalleled transaction transparency, improved end-user experience, increased process efficiency, and faster transaction rates in business processes are additional byproducts of its decentralized nature.
Then he asks the question: “Isn’t it time to use this technology to change the rules of the game and make finance more ethical and responsible?”
It is this gap with conventional financing that fills in Retreeb as a sustainable alternative.
In terms of the current market share of one of their team members, “at the heart of economic exchanges, payments are key to making blockchain popular and paving the way for new sustainable finance.”
Besides trusted brokers
Where finance was once a particularly opaque sector, Retreeb enables its clients to take back control of their financial operations. The corporate and corporate social responsibility model, combined with the blockchain-based financial engineering, provides a fee-free, intermediary-free method of payment between the banks that are prevalent today.
Thus, sellers can now expect much lower commissions – from 0.9% to 1.5%, compared to the 2.5% – 5% now common in central market players such as Visa or Paypal.
This is possible thanks to Phantom Opera’s technology and the blockchain infrastructure on which Retreeb is building its offering – an infrastructure that enables fast transactions, low costs and plenty of development opportunities.
Despite the cut, the platform continues to pledge a third of its revenue (33%) to social projects that users have voted on, which the platform calls solidarity cashback.
More info from RETREEB here
In practice, Retreeb uses a “dual-core model” including SEPA transaction and bank transfer code. Coding is made possible by Fanthom’s “Lachesis DAY” model over the Lachesis protocol. The second pillar of the base model deals with SEPA bank transfer, which aims to circulate paper money flows, which in turn helps the platform to regain control over the transaction to implement its business model.
Retreeb also uses a dual-asset system that includes (S) TREEB (Retreebs Stablecoin) and (U) TREEB (Retreebs utility token).
Using these decentralized technologies together helps develop a business model based on ethics and sustainability, not just profitability.