Analysis by Binance Research argues that blockchain technology could transform the current payment infrastructure by allowing self-custody of digital assets and cutting out the middlemen from transactions.
Seemingly unfazed by its inefficiencies, the payments industry has grown into one of the largest in the world, currently estimated to be producing $2.83 trillion in revenues as of 2024.
The report highlighted the advantages of using cash for in-person transactions, noting the “unique freedom of money” it provides, a feature modern digital payment systems fail to offer.
“Without blockchain technology, there is no means of having self-custody of digital money,” Binance Research said in the report published today, highlighting the limitations of current digital payment methods.
The…
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