A joint project of American Express and FINTECH start-up Ripple implemented the world’s first blockchain-a service that enables instant cross-border transfers. Now companies from US and UK will be able to receive money in real-time. All previous blockchain payments were experimental and not widespread, but the American Express and Ripple through joint efforts intends to raise a full payment platform which allows you to quickly transfer funds to corporate clients of Banco Santander.
“The main feature of the blockchain-payment is their speed. And this will help many companies in the US and the UK to evaluate our system, because usually to get the transfer had to wait a couple of days, but now all in the past — money “arrive” in real time, which is consistent with the current rhythms of the business,” says Executive Director brad Ripple Arlinghaus.
Speed is not the only benefit of this system. Partners note that the blockchain is a channel which transfers will allow companies to track the payments and transactions themselves will be cheaper than conventional Bank transfers.
Eventually, when the system is run-in, to use it will not only residents of the UK and USA, but residents of other countries.
To discuss the prospects of the system can be found in our TG-chalice.
American Express launched the world’s first payment on blockchain service
Vyacheslav Larionov