A decentralized payment network works as a payment aggregator where users, vendors, and customers can make monetary transactions without any third-party intervention for overall operation. Decentralized payment networks are built upon blockchain, offering better security with scope for scalability.
Any centralized payment network including banks has governance over the transactions. Not to mention, it can greatly influence and modify any monetary policy accordingly. A decentralized payment network mitigates such concerns while streaming online payments.
Furthermore, decentralized payment networks bring forth better security, improve transparency while making online transactions cheaper. Not to mention, it can bring financial services to millions of users all throughout the world.