Core Insights - The strategic partnership between Multi-Point Smart (02586.HK) and Circle (CRCL) marks a significant advancement in the application of blockchain technology within the retail sector, aiming to enhance digital transformation in the global physical industry through a dual-driven model of "technology + scenario" [1][2] Group 1: Partnership Overview - Multi-Point Smart has become one of the first deep partners in Circle's new Layer-1 blockchain network, Arc, which focuses on bridging the gap between blockchain technology and the real economy [1] - The collaboration aims to address pain points in traditional retail payments, such as inefficiencies in cross-border transactions and complex settlement processes, by leveraging programmable currencies and smart contracts [1][2] Group 2: Retail Industry Implications - Multi-Point Smart's involvement in the Arc test network will enable a comprehensive on-chain testing of retail transactions, optimizing cross-border retail settlement efficiency and reducing reconciliation costs through blockchain's immutable nature [2] - This partnership is expected to provide a replicable model for blockchain transformation in the retail industry, aligning with the core demands for globalization, digitalization, and efficiency [2] Group 3: Broader Economic Impact - The collaboration signifies a shift in blockchain from being merely a financial tool to becoming an operational system for the real economy, enhancing the value chain between blockchain technology, retail networks, and consumer behavior [2][3] - The ongoing exploration in retail payments and supply chain scenarios is anticipated to accelerate the transition of the retail industry into the "on-chain economy" era, setting a benchmark for the integration of physical and blockchain sectors [3]