BASINGSTOKE, England, Nov 5 (Bernama-BUSINESS WIRE) — New data from Juniper Research has shown that the total value of B2B cross-border payments immutably stored on blockchain will exceed $4.4 trillion by 2024; up from $171 billion in 2019. Blockchain enables real-time clearing and settlement for B2B transactions, while offering increased transparency and reduced costs.
The new research, Blockchain: Key Vertical Opportunities, Trends & Challenges 2019-2030, revealed that financial institutions will save $7 billion by 2024, due to the automation of ‘Know Your Customer’ checks, allied to the involvement of blockchain in identifying users via self-sovereign identity.
