Why Blockchain is Ideal for Banking Transactions
Unfortunately, the nature of banking across the world, coupled with regulatory obligations, creates a complex and multi-step process for transferring money from one bank to another. This involves multiple hops, with each bank involved conducting credit checks, sanctions checks, and account validations before the money can be moved forward. This process is prone to errors and operational friction. Blockchain technology offers a solution to streamline this process by eliminating operational friction and reducing the chances of errors.
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