Frequently Asked Questions
Blockchain works as a decentralized ledger that records transactions across multiple computers. It ensures that transaction data is secure, transparent, and immutable, making it reliable for banks and financial institutions.
Banks are adopting blockchain to enhance security, reduce transaction costs, speed up settlements, and improve transparency in processes such as payments, trade finance, and digital identity management.
Blockchain enables faster and cheaper international money transfers by bypassing traditional intermediaries. Transactions can settle in minutes rather than days, improving cash flow for both businesses and individuals.
Blockchain allows banks to create secure, shareable digital identities. Once verified, these identities can be used across multiple institutions, reducing repetitive verification steps and increasing customer privacy.
Yes, blockchain secures trade finance by storing critical documents, such as letters of credit and shipment proofs, on an immutable ledger. This reduces delays, errors, and the need for manual reconciliation.
