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What is the purpose of a “cross-border payment” solution in the blockchain space?

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What is the purpose of a “cross-border payment” solution in the blockchain space?

Question: What is the purpose of a “cross-border payment” solution in the blockchain space?

Answer: To reduce transaction fees for international money transfers.

Further reading

Which blockchain platform focuses on providing privacy and anonymity by using technologies like Confidential Transactions and Ring Signatures?

In the context of blockchain, what is the purpose of a “whale”?

What is the term for the process of creating a new cryptocurrency that shares a portion of its blockchain history with an existing cryptocurrency?

About the author

Lim How Wei

Lim How Wei is the founder of followchain.org, with 8+ years of experience in Social Media Marketing and 4+ years of experience as an active investor in stocks and cryptocurrencies. He has researched, tested, and written thousands of articles ranging from social media platforms to messaging apps.

Lim has been quoted and referenced by major publications and media companies like WikiHow, Fast Company, HuffPost, Vice, New York Post, The Conversation, and many others. One of his articles about the gig economy was quoted by Joe Rogan who hosts The Joe Rogan Experience (arguably the most popular podcast in the world), in the This Past Weekend podcast by Theo Von.

In his free time, Lim plays multiple games like Genshin Impact, League of Legends, Counter-Strike, Hearthstone, RuneScape, and many others. He creates guides, walkthroughs, solutions, and more on games that he plays to help other players with their progression.