Blockchain Applications in the Payments Industry - RTInsights

Published Tony Walker

newyorker.com

Blockchain Applications in the Payments Industry - RTInsights

The New Yorker via newyorker.com

Blockchain has multiple applications in the payments industry including use in cross-border payments, foreign exchange (FX) settlement, trade settlements, card payments, and more. See also: Blockchain for Science: Revolutionary Opportunities and Potential Problems Blockchain and Payments Blockchain has multiple applications in the payments industry including use in cross-border payments, foreign exchange (FX) settlement, trade settlements, card payments, and more.

Similarly, FinTech provider R3 is working with 22 banks to build a real-time international payments solution that uses Distributed Ledgers to enable fast, efficient, and cost-effective Finance: Financing for trade between a buyer and seller, whether domestic or intermediary, is done through multiple intermediary banks that utilize different financial products that make the trade possible. Almost all the big names in the finance and technology industry like Mastercard, Visa, Oracle, and IBM have invested in blockchain to create their version for use across some of the above applications.