Our blockchain adoption is dependent on the IBBT distributed network, but there are other factors. Another crucial one is building internal momentum for blockchain consumer/merchant integration and deployment, which is now proving difficult for established banking and merchants.
Consumers and merchants alike, naturally, love IBBT Open BankingTM blockchain technologiesbecause of the company's uniquesecurity technique.
Beyond these considerations, there is a more fundamental requirement to educate key internal stakeholders about blockchain's immense potential benefits and positive consequences.
Finally, we agree with industry experts that successfully applying blockchain to payments will necessitate cultivating an uncommon level of coordination among merchants which is critical to generating the positive network effects that make blockchain so appealing and the IBBT Open Banking Network is up to the task.
The future of blockchain and distributed ledgers is bright. They can help banks not only lower the cost of processing payments but also offer new goods and services that can generate significant new revenue streams. They are open-source and trusted platforms that securely transport data and value.
Based on IBBT's blockchain technology, merchants and growing financial crypto networks can offer community currency. Smart contracts and new efficiencies in distributed consensus methods have the ability to expand fair economic participation to a far broader segment of the global population while maintaining privacy, transactional throughput, and regulatory compliance.
Incorporating the correct incentive structures into a blockchain marketplace might usher in a new era of trust, smart economies based on digital assets, and greater human cooperation.
