Published on August 29th, 2015 | by bitcoin0
Global Business Could Save $550 Billion Annually By Using Blockchain Tech
Here, he examines whether open Internet standards and blockchain technology can rescue the last bastion of analog payments.
While credit cards have made consumer purchases faster and easier, the merchant fees involved are a deal-breaker for high-value B2B transactions.
It’s 2015, but without a viable digital alternative, we’re now sending $26tn per yr through an analog system invented 2,000 years ago.
All told, legacy payment systems are costing global businesses $550bn a year in direct expenses and inefficiencies.
They can even take advantage of developments of open, natively digital blockchain technology to slash the cost of payments even further.