Blockchain, the revolution in cross-border payments

The blockchain revolution mainly concerns cross-border payments thanks to faster, cheaper and safer operations with the involvement of fewer intermediaries. Saiful Khandaker (Forbes) describes the process of blockchain-based transactions and quotes a Deloitte report according to which business-to-business and person-to-person payments with blockchain result in a 40% to 80% reduction in transaction costs, and take an average of four to six seconds to finalize (compared to two to three days using the standard transfer process).