Odaily Planet Daily News Ripple recently released a white paper in cooperation with the Faster Payments Council, explaining how Ripple uses cryptocurrencies to change the way funds flow in the United States and around the world.
Ripple released the white paper on Twitter, saying that the global leader in the payments industry is "dissatisfied with the traditional rails of cross-border payments" and explaining how the leading payment provider expects the cryptocurrency and blockchain industry to change the way payments are currently used. technology.
The report states that the creation of cryptocurrencies and their growth in the market are now "exciting for the future of payments." While trillions of dollars continue to be sent around the world using "outdated and expensive payment systems," cryptocurrencies and DLT technologies are opening up increasing possibilities for improving how payments are made around the world, including lower fees and greater transparency.
A total of 97% of the respondents believe that blockchain and cryptocurrency can significantly change the payment industry, especially the cross-border payment industry in the next three years; more than 50% of the respondents believe that most merchants will Start accepting cryptocurrencies within the year. They believe that lower costs are the most attractive feature of digital currencies.
According to the report, Juniper Research pointed out that blockchain is expected to help financial institutions save about $10 billion in cross-border payment costs by 2030 due to fast, reliable and transparent payment settlements.
It is reported that the survey conducted by Ripple and the Faster Payments Council involved more than 300 leaders in the payment industry, including analysts, directors, vice presidents and C-level executives. They come from 45 countries around the world and cover all areas of the payments industry, including banking, retail, fintech, media and entertainment. (U. Today)