11th December 2024 Digital Bytes

Trends in global payments: blockchain’s role - blockchain technology is transforming global payments by enhancing security, transparency and efficiency. As digital wallets, ‘buy now, pay later’ (BNPL) services and instant payment systems grow in popularity, blockchain enables faster transactions, reduces fraud and supports decentralised financial ecosystems. The rise of tokenisation and digital currencies further highlights blockchain's potential in reshaping the financial landscape, but the challenge remains whether traditional financial institutions can innovate quickly enough to remain relevant in this rapidly evolving digital economy.

‘Dollarisation’ vs ‘Bitcoinisation’ - recently, cryptocurrencies have been growing rapidly whereby creating a new paradigm for countries with economic instability and currency depreciation. For decades, in order to stabilise their economies, nations with high inflation or declining currencies have adopted the US dollar - officially or unofficially. Ho…