Payments News

The Practical Application of Blockchain in the Mobile Channel

Jun 29, 2018

Three key use cases could dramatically improve rewards programs, user authentication, and supply-chain management.

Blockchain is a changing business model for the banking industry, supporting the sharing of value between and among multiple companies to their mutual benefit. While the industry may be enamored of developments on the crypto­currency front, we believe the real opportunity for payments lies in the application of blockchain technology to other types of shared value.

Blockchain technology is a digital, distributed transaction ledger protected with cryptography and only shared by the network’s members. Combining shared databases and cryptography, blockchain technology allows multiple parties to have simultaneous access to constantly updated content that cannot be altered.

 
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