Rodrigo on Nostr: ⌛ It’s only a matter of time before the correspondent banking system understands ...
⌛ It’s only a matter of time before the correspondent banking system understands and incorporates correspondent protocols for global settlement.
The difference:
🐢 Correspondent banking is a “pay-to-play” inefficient and slow network, with tied up capital and various intermediaries. Global commerce pays the price of this through higher FX rates, higher minimums, additional fees and opportunity costs of goods not moving due to financial settlement delays.
⚡ Correspondent protocol, such as the Bitcoin blockchain, is an interoperable network without capital requirements, heavily disintermediated, which transfers and settles value in one single transaction. This returns value to global commerce in the way of better FX rates and instant global settlement, which increases the turnover of goods being traded.
The difference:
🐢 Correspondent banking is a “pay-to-play” inefficient and slow network, with tied up capital and various intermediaries. Global commerce pays the price of this through higher FX rates, higher minimums, additional fees and opportunity costs of goods not moving due to financial settlement delays.
⚡ Correspondent protocol, such as the Bitcoin blockchain, is an interoperable network without capital requirements, heavily disintermediated, which transfers and settles value in one single transaction. This returns value to global commerce in the way of better FX rates and instant global settlement, which increases the turnover of goods being traded.