FintTech | Blockchain
Blockchain marketplace in 2021 was worth $4.9 billion and is expected to accelerate to $67.4 billion by 2026. The PwC report on blockchain and the evolving market found the technology could improve global GDP by an average of $1.76 trillion by 2030.
The application of blockchain technology has now moved beyond its original use in cryptocurrency transactions and has broadened to address secure transactions in general, across multiple sectors like healthcare, media, retail and FinTech.
By optimising Blockchain technology, it’s possible to develop an entire ecosystem of digital products that will transform regular financial processes into entirely transparent procedures, built on secure and efficient transactions.
Some of the common advantages of Blockchain include:
● Instant settlements
● Faster KYC
● Improved contractual performance (Smart Contracts)
● Digitisation of documents and immutability
● Lowered cost of services
● Decreased error handling and reconciliation
● Improved capital optimisation
● Diverse and stable credit landscape
● Disruptive to how traditional banking is done, its gives the user more control over their digital wallet, cutting out the middlemen to establish peer-to-peer networks, lightning-fast transactions and complete transparency.
digitify blockchain projects can help to streamline various complex processes by reducing settlement times, providing secured global currency exchange rate speeds, increasing transaction times and much more.
We can build innovative, secure and dependable digital payment solutions using blockchain technology for everyday financial life, making it simple to exchange funds, pay on the go, move money in & out of digital wallets, banks and online accounts.