Cryptocurrencies can be a good alternative to conventional settlement processes because they are underpinned by blockchain technology which enables the instant finalization of transactions without the involvement of intermediaries, a new report has said. Some players in the cross-border money transfer industry perceive the blockchain and cryptocurrencies as technologies that can enhance remittance processes.
Cryptocurrencies Eliminate Expensive Practices for Remittance Providers
Using cryptocurrencies for the settlement of transactions can be a useful “alternative to traditional settlement processes,” the latest report by the International Association of Money Transfer Networks (IAMTN) has said. According to the report, this is due to the fact that on the blockchain — the technology that underpins cryptocurrencies — transactions are settled instantly without the need to go through intermediaries like correspondent banks.
The combination of declining correspondent banking...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...