Blockchain Technology: Explore Future Scope with Demanding Applications
Blockchain technology is being increasingly used in the BFSI segment for financial transactions and cross-border payments. Online payments have gained huge attraction. Card-based payment methods using credit and debit cards have become dominant. Blockchain provides increased speed of transaction processing and greater efficiency in real-time processing. It also helps to secure payments, maintain customer identities, and settle cross-border payments. As this technology is decentralized, various financial technology (FinTech) companies are also gaining opportunity to invest a part of their total investment in the blockchain.
