Top Ten Benefits of Blockchain for Payment Systems | Finance System Benefits | Fintech
As you may know, Blockchain is now a disruptive technology that’s being used by major companies and financial institutions around the world. Since this technology can be used to shift assets around the world as conveniently as sending an email, it’s no wonder that there’s been a boom in its usage in the last few years, even with all the skeptics it continues to grow!
Blockchain technology is expected to make a massive leap in size and value, reaching €32 billion by 2025 according to some predictions. One of its most avid investors, the financial sector, is responsible for over 60% of the total market value. And this is an industry that relies heavily on profitable ROIs, so it’s certain that there are a lot of advantages to be gained from using blockchain technology—especially for payment systems.
0:00 Intro
0:55 Benefit One - Lower Costs
1:25 Benefit Two - Faster Payments
2:04 Benefit Three - Digital Currencies
2:26 Benefit Four - Greater Safety
2:53 Benefit Five - "Know Your Customer"
3:35 Benefit Six - Money Transfers
4:00 Benefit Seven - Less Time and Money
4:29 Benefit Eight - Tracking Transaction Details
5:08 Benefit Nine - Financial Inclusion
5:35 Benefit Ten - Reduced Fraud
6:03 BONUS - Eliminating Insufficient funds for Merchants
What else do you think blockchain will do for our payments system? Let us know in the comments below!
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#Fintech, #Blockchain, #Payments, #Finance
