8 key factors why blockchain cross-border payment systems are extremely useful
Blockchain will prove as structure worth implementation in the new versions of international payment systems, B2B payments company Worldcore CEO Alexei Nasonov has recently stated to Bitnewstoday.
He lists eight key factors of the usefulness of blockchains for cross-border payments:
- Lower commissions and transaction costs
- Transaction data storage
- Audit simplification
- Cryptocurrency investments — this will lead to the decrease of volatility and to the increase of the whole market capitalization
- Transactions across the whole world without restrictions
- Higher cybersecurity level
- Low-cost or even zero-cost audit
- Higher level of partnership between financial organizations
Additionally, Alexei Nasonov reminded about the high interest towards those cryptocurrency projects which try to build their business around this theme - especially considering the fact that the latest traditional payment systems which seem new are actually older than they look, as their development start date is 3 to 6 years ago. Be it Ripple, Stellar or any other successful token built on Hashgraph consensus - the aforementioned benefits are going to happen to the world of finance anyway.
Image courtesy of Worldcore