Major Thai bank to test blockchain solution for cross-border payments
One of Thailand’s biggest banks has given the green light to use blockchain for cross-border payments via the Visa B2B Connect program.To quote Visa’s country manager, this will support developments in “security, governance and distributed ledger technology.
In the payment services business, this is what it’s all about; the payment has to be secure,accountability should be paramount and last but not least, fundsshould go where they need to go.
No doubt, we’ll see more of these cross border solutions but the overarching issue is how are governments going to regulate this in the future?
This is now become the glaring part of crypto’s irony. The currency was originally about being able to trade anonymously but now we’re seeing it become just as regulated as traditional currencies. This is both a good and bad thing. The critical thing is to have strategies in place whatever the outcome.
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