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The increased use and adoption of P2P technologies, like Zelle and Venmo, demonstrates the consumer demand for this type of frictionless payment option. However, with real-time payment modalities, and through the messagingstandard ISO 20022, data can be easily uploaded into firms’ billing systems.
Perhaps similar to Venmo, but the digital currency, which is now known as “Cash ETH,” would only be used for smaller everyday transactions, such as a morning coffee or filling up at the pump. Standards Australia will head the committee to guide implementation of blockchain technology and the messagingstandards.
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