Blockchain Technology

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This is a place for blockchain and Web3.0 enthusiasts. Here, we focus on exploring the technology and its impact on the world, rather than cryptocurrency trading. Join us to discuss the transformative potential of blockchain and Web3.0!

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The Blockchain Revolution In Cross-Border Transactions (Forbes) (www.forbes.com)

submitted 1 year ago by automaton to c/blockchain

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Blockchain technology can help companies, involved in international trade, overcome real challenges by making several time and resources consuming processes easier:

Two of the biggest challenges in international trade are the ability to authenticate or verify the identity of international parties across the trade transaction lifecycle and and the ability for parties to establish trust in various steps of the international trade transaction. The characteristics of the blockchain, specifically immutability and transparency create a unique opportunity to leverage digital identities for companies in cross-border transactions. What are then the reasons why the technology hasn't achieved widespread adoption yet?

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[–] automaton 1 points 1 year ago

Funny to see the downvotes but no comments...