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Blockchain Changing the Game -Breaking

by Mike Robinson

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Blockchain is changing the game: The Payment Revolution

The disruptive technology of blockchain is transforming a wide range of industries. But none more so than finance. This market was stagnant for many decades because big banks held all the power. Blockchain’s decentralized ledger changed all that. It opened up new opportunities and removed the barriers to competition. This technology has the potential to change every type of financial transaction, from capital formation to remittances. Blockchain technology allows global financial systems to become interconnected and secure. It is also fast, efficient, and cost-effective. The customized blockchain payments solutions providers have now tapped into new markets. GreenBox POS (NASDAQ: GBOX) (Profile). Others are also focusing on improving their positions in the rapidly growing financial technology (fintech), market. Fiserv Inc . (NASDAQ: NASDAQ:), Fidelity National Info Services Inc. (NYSE: FIS), Block Inc.(NYSE: SQ). Global Payments Inc. (NYSE: NYSE:).

  • Mordor Intelligence predicts that global digital payments’ transaction value will grow to $11.29 trillion and reach $11.29 Trillion by 2026.
  • GreenBox’s portfolio has grown significantly since July 2021 when it entered deals to buy Transact Europe Holdings OOD, ChargeSavvy and Roark Holdings.
  • GreenBox’s FY 2021 preliminary results showed that GreenBox handled nearly $2 Billion in transactions volume. This is an 800% increase over the $202 MILLION in 2020.
  • GreenBox is now offering Automated Clearing House, (ACH) processing services. Customers have committed up to $50+ Million monthly.

Big Banks Biggest Threat

Blockchain was misunderstood as cryptocurrency’s derivative, but it has become a popular technology that is revolutionizing finance. The name blockchain is derived from individual pieces of data being recorded on immutable “blocks” that are linked together through a “chain,” or publicly accessible network. These blocks may contain any data including details of money exchange transactions and can be uniquely identified by an unchangeable code.

Blockchain technology poses a threat to banks, who are slow to adopt it. It allows two parties to transact electronically without any financial intermediaries. It is an exciting time in our digital age. Mordor Intelligence estimates that the world’s digital payments market will be worth $5.44 trillion in 2020. It also forecasts that it will grow 11.21% each year to $11.29 trillion by 2026. Also, blockchain technology can offer an affordable solution for the approximately 500 billion dollars that are sent internationally every year via personal remittances.

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