The main goal of blockchain remittance companies is to simplify the entire process. The idea is to provide frictionless and near instant payment solutions.
Unlike traditional services, a blockchain network doesn’t rely on a slow process of approving transactions, which usually goes through several mediators and requires a lot of manual work.
Instead, a blockchain system can perform worldwide financial transactions based on a distributed network of computers. This means that several computers participate in the process of verifying and validating transactions - and this can be done in a decentralized and secure way.
When compared to the traditional banking system, blockchain technology can provide faster and more reliable payment solutions at a much lower cost.
In other words, blockchain technology may solve some of the major problems faced by the remittance industry, such as high fees and delayed transactions resulting in wait times.
A new era in payment solutions!
The Information provided herein is for general information only.
It should not be taken as professional consulting advice.
Presently, the activities of PUNDI X are not regulated or licensed by the financial regulatory authorities of many jurisdictions.