Blockchain across Oracle

Current state and inefficiencies

• The system of international payments is a slow, closed, and compartmentalized system, similar to the systems of communication (email) in the 1980s. You can only send transactions (or messages) to users of the same (messaging) system.  
• Cross-border transfers involve a number of banks and most likely a number of currencies before the money can be collected by the recipient, significantly increasing the amount of cross-checking of data at each stop and resulting in longer transaction processing times, increased unit costs, and a higher risk of error.
• Payments generally take more than a day and are only processed during the business hours of the banking agencies involved. Third-party intermediaries, such as ...