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What are the areas blockchain has penetrated the fintech industry?

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Old 27-10-2020, 08:25 PM
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Default What are the areas blockchain has penetrated the fintech industry?

P2P Payments: Facilitate secure, contactless, real-time, and cross-border transactions through the use of encrypted distributed ledgers.

Smart Contracts: Leverage the power of smart contracts for autonomous, accurate, transparent, and secure contract services.

Client Identification System: Facilitate user-optimized, obscure, decentralized, and transparent identity management for various legal procedures.

Smart Loyalty Programs: A blockchain-based loyalty program provides you with secure and transparent systems reducing the cost associated with errors and frauds.

Regulatory Compliance and Audit: Verifying compliance by an audit trail through recording the actions and their outputs for any digital asset.

Loans and Credit: Eliminate the need for middlemen, enhance transparency, and reduce delays with blockchain allowing investors to approve loans.

Insurance: Get a permanent audit trail by automating claim processing and simplifying the management of digital assets.

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