Benefits of Blockchain Technology in the Financial Sector?

[Nissivarghnese]

Since blockchain has its usage in cross-border remittances, KYC, trade finances, and digital currency, it has raised the standards by bringing an exponential change in the banking and financial sectors.

• Eliminating the Intermediaries
• Efficiency
• Resolving identity theft issue
• KYC (Know Your Customer)
• Trade Finance
• Consortium-Accounts Monitoring

[lolapaluuza]

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[jimiraton]

Blockchain is much faster and cheaper than swift, that is true

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Originally Posted by jimiraton

Blockchain is much faster and cheaper than swift, that is true

lol whut, where u get that idea from?

[rileyT]

I think blockchain is really helping the finance world. Everything’s getting faster, cheaper, and safer plus it helps stop fraud and identity theft.

KYC is easier too. Once your info is checked, you don’t have to do it again at every bank. Trade processes are clearer and easier to follow. And banks can watch shared accounts more easily.

[rileyT]

I think blockchain is really helping the finance world. Everything’s getting faster, cheaper, and safer plus it helps stop fraud and identity theft.

KYC is easier too. Once your info is checked, you don’t have to do it again at every bank. Trade processes are clearer and easier to follow. And banks can watch shared accounts more easily.