Crypto Technology Applications in Payments

By Alenka Grealish, Senior Banking Analyst, Celent. Plenty of hype surrounds blockchain’s speculative aspects. What’s often sidelined in discussions of crypto technology is how it can help improve banking.

Banking and payment systems haven’t kept up with the pace of innovation in information sharing and the digital economy. Crypto technology—including distributed ledger technology (DLT)/blockchain, smart contracts, and digital assets—offers an opportunity to reinvent transaction banking and payments and meet the dynamic needs of the digital, global economy.

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