Blockchain Technology Could Revolutionize In-Message Payments

by Joseph Walent 0


 The ability to transfer more of the capabilities when interacting in person to the digital realm has done much to improve expediency and reach for many of us. One of the limits that still exists is the ability to essentially hand cash to another person via virtual means. The author posits the way the use of cryptocurrency/blockchain would prove to be a viable solution.

The technology produces a transparent and completely secure record of all transactions within the chain. By doing so, it creates a system where messages and payments can be sent in tandem with security and verifiability at the same time.

Mercator Advisory Group agrees insofar that development of secure messaging with verifiable value transfer will be a revolutionary capability. However, the leverage of cryptocurrency as part of this solution at this time will rely on digital exchanges, which reintroduce risk and require user trust, and would require a third party have read access to messages.

Overview by Joseph Walent, Associate Director, Customer Interactions Advisory Service at Mercator Advisory Group

Read the full story here

Featured Content