For years, banks have used systems that most customers can’t see and rarely understand. Payments often pass through several intermediaries, with fees building up along the way — and settlement can also take days. 

That structure may have worked in a lower-paced world, but it doesn’t work as well in a digital economy where information moves quickly.

However, blockchain offers an alternative model for reconciliation by providing shared records and the introduction of the technology doesn’t have to mean the demise of traditional banks; instead, the infrastructure beneath them can evolve and become more open, faster, and accessible to a generation that already expects financial…

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