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Blockchain Quick Start Guide
book

Blockchain Quick Start Guide

by Xun (Brian) Wu, Weimin Sun
December 2018
Intermediate to advanced
222 pages
6h 6m
English
Packt Publishing
Content preview from Blockchain Quick Start Guide

Payment and settlement services

Reconciliation of transactions between banks is costly and time-consuming when performed traditionally. For example, in 2016, the US alone had 70B debit card transactions. In the same year, VisaNet (one of world's largest electronic payment networks) processed an average of 150 million transactions a day. With these high volumes, even a tiny saving in each transaction can lead to a huge reduction in the overall cost of doing business. In the case of stock trading, the complete cycle of a trade plus clearing and settlement take three days. A failure in reconciling a transaction could result in a significant monetary loss. (Therefore, a clearinghouse such as DTCC implements an insurance mechanism to mitigate ...

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Publisher Resources

ISBN: 9781789807974