The Ripple effect is said to have a disruptive and dramatic impact on the financial system of the world. The latest update has been unveiled by the World Trade Organization’s blockchain report. The massive report described the future of blockchain on global commerce and its potential to transform the trade in the best possible way.
The World Trade Organization is titled “The future of world trade: How digital technologies are transforming global commerce”. The report singles out Ripple in a way that it has the capacity to radically change the way companies move money in a network. Indeed, it talks majorly about blockchain and its great capacity to intensely transform the way trading is done.
The distributed ledger technology is raising the benchmark of banking with the help Ripple. The report unveiled that the company has the ambitions to dodge the correspondent banking model using the distributed ledger platform. The will facilitate the bans to convert funds directly into different currencies within seconds with little to no cost sans relying on traditional banking methods.
Ripple currently holds licenses with 100 banks and financial institutions, however, the many of them are still testing the ripple effect within their existing systems. (Via Daily Hodl)
IOTA And Cryptocurrency In The World Trade Organization’s Report
The report further elaborated about IOTA as a leading distributed ledger technology which differs from blockchain technology. Indeed blockchain is also dubbed as distributed ledger technology (DLT), however, there are several other models that are being developed and distributed using various cryptographic techniques which differ from the concept of ‘blocks’ and ‘chains’.
The report also unveiled the ripple effect and detailed information on cryptocurrencies such as Bitcoin and Ethereum pointing out that they are pioneers in the field of technology but still remains resilient to cyber attacks.
The post Ripple Effect Capable In Transforming Global Commerce Indicates World Trade Organization Report appeared first on OWLT Market.
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