How Decentralized Transactions Are Displacing Traditional Payments
Last week, I examined how legacy banking platforms are being supplanted by more modern, faster payment technologies. This week, I continue to look at how traditional transaction tools are being usurped by newer decentralized technologies.
Ripple (XRP) is Disrupting SWIFT with On-Demand Liquidity, On-Demand Liquidity (ODL):
Ripple’s ODL platform leverages XRP — a decentralized, public blockchain led by a global community of businesses and developers — as a bridge currency to facilitate near-instant cross-border payments, eliminating the need for pre-funded accounts in multiple currencies. Not only does this significantly reduce transaction times and costs, it is helping to make Ripple a leading solution for financial institutions (FIs) and SMEs.
As a result, Ripple’s network now spans 80 countries and 50 currencies, positioning it as a key player in the global payments landscape.
In fact, small and medium enterprises (SMEs) in India, Mexico, and China have increasingly adopted Ripple’s solutions to improve the completion of their cross-border payments, particularly in the post-pandemic era where up to 75 percent of businesses increased their global transactions.
⬇ Read the full text of Ash’s overview of decentralized transactions here. ⬇
www.avestix.com/insights/how-decentralized-transactions-are-displacing-traditional-payments
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About the Author: Ash Aly | Chief Technical Officer | Avestix Group
Ash Aly is a polymath with deep expertise in mathematics, engineering, economics, financial technology, and alternative data. He is also a technologist with in-depth experience in constructing indexes, ETF trading, investment banking, quant/data, applied machine learning, design thinking, analytics and exponential entrepreneurship.
This article is for informational purposes only. All investments involve risk and some investments and investment sectors discussed may not be suitable for all investors. Please consult your financial advisor before making any investment decisions. Views expressed in this article do not necessarily reflect the views of Avestix or its employees.