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The First Deputy Governor of the central bank of France, Denis Beau, spoke in support of a blockchain-based settlement system that would allow for faster transfers of euros, as well as be more cost-efficient, according to a report by Yahoo!
It may seem that cross-border payments were in the … well … crosshairs this past week, with a number of country-by-country and company-by-company initiatives using blockchain and other methods to speed payments and lower fees. Some see distributedledgertechnologies (DLT) as having the potential to drive industry-wide change.
At heart of the matter, of course, is the place (or choice) of using distributedledgertechnology (DLT) to underpin the transactions — especially B2B transactions. Some see distributedledgertechnologies (DLT) as having the potential to drive industry-wide change.
Blockchain and AI to the Rescue. Some payments providers are also leveraging blockchain and distributedledgertechnology (DLT) to meet these needs, expediting the cross-border payment process. Canadian payments network Interac is also investing in blockchain and DLT solutions.
The payments often have to travel between MTOs or between one MTO’s different offices through correspondingbanks, and the different operating hours and time zones under which domestic systems operate can delay MTOs from getting their money. Consumers are not spared from the space’s frictions, either.
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