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Blockchain Technology Could Reduce Cross-Border Payment Costs Up To 3%

Blockchain is far more than the technology framework for cryptocurrencies such as bitcoin. It's a decentralized ledger of transactions across a P2P (peer-to-peer) network that has the potential to disrupt charities, government operations and businesses — including retail.

In addition to cutting cross-border payment costs by 2% to 3%, blockchain could create potential savings of 70% on a wide range of business operations.

In retail, blockchain benefits include:

  • Logistics transparency, including the ability to store and track all data;
  • Proof of ownership and resale; and
  • Better tracking of buying habits.

Learn more about the widespread impact of blockchain technology in this infographic from BitFortune.net.

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Source: BitFortune.

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