The Need for (Transaction) Speed

by Sarah Grotta 0

In this Tech Crunch article, the case is made for faster payments:

“…in a world where physical goods can be delivered within the same day, expectations for real-time payments are rising”

The benefits could be far reaching and reduce the friction that is created by current “slow” payment types in the internet economy, in distributing payroll for an increasingly freelance workforce and in the execution of global supply chain transactions large and small. The article further support the re-engineering of the current payment system with blockchain technology as the solution:

“…the financial sector needs to keep up at the same pace. While physical supply chains have improved to keep track of the digital world, the financial supply chain has not kept pace. The race toward real-time financial services involves a wide array of stakeholders and possibilities, ranging from common standardization to re-engineering underlying processes and protocols through blockchain technology.”

Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group

Read the full story here

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