2.4 Key trends that gave rise to the Douglas AMC operating environment

Key Trends：

1）The South Korean cryptocurrency market has been at the top of the world, and it has become an open secret that cryptocurrencies in the South Korean market are more expensive than in other countries, a phenomenon also known as the "kimchi premium". Not long ago, the Korean National Tax Agency planned to further cooperate with Bulgaria and the United Kingdom to strengthen the friendly cooperation between offshore finance.

2）DSK Bank has launched the "Offshore Initiative" to promote a better regulatory system for the global cryptocurrency market, which will have a stronger effect on cross-border remittances and offshore finance, and build a digital economy alliance with borderless circulation of assets, open sharing of value, and collaborative innovation in the industry.

3) The global payments industry is worth $15 trillion per year and growing. There is widespread demand for solutions, but this has fragmented the market, so there is a need for integrated solutions.

4) Fragmentation of the payments market has increased competition for the e-wallet state. Fintech and cryptocurrencies have disrupted the traditional payment players in the payments space. The absence of a unified wallet leader means that all solutions are competing, but all are too narrow to win.

5) Cryptocurrency further damage：Digital currencies offer an alternative to traditional fiat currencies as a store and transmitter of value. Since these and other tokens are traded on the blockchain without intermediaries, it is likely that further adoption of cryptocurrencies will occur, and traditional payments will lose out.

6) New cryptocurrencies are rapidly emerging：A range of available or upcoming alternative cryptocurrencies means that the pace of change is so rapid that wallets are about to lose their appeal if their range is not expanded.

7) Consumers and technology drive change：New and improved solutions and capabilities are influencing consumer behavior and expectations. The use of cryptocurrencies is one example of consumer-led technological change.

8) Data analysis to drive usage and retention：To stay relevant, the payments industry must master its business intelligence to reduce costs, drive turnover and improve profitability. Real-time data analysis of spending activity can drive additional usage and help enhance the customer experience.

9) Payments become global thanks to cryptocurrencies：Previously, payments occurred within the banking system. In many emerging economies, it may smell like a large number of people don't have bank accounts and can't get payment or ownership of assets. Cryptocurrencies make payments have global value and digital assets can easily be transferred from anyone to anywhere.