Blockchain technology allows untrusted users to time stamp and executes an agreement without a middleman. This agreement can fulfil regulation and compliance within any jurisdiction using self-executing smart contracts.
The technology behind Nytro Chain could play a key role in this technological advancement to alter the current way of banking. Nytro Chain has developed a process of allowing traditional banking applications to be executed on the blockchain. Functions such as multi-pay systems, timed transactions, invoicing, settlements, KYC implementation, and direct loans between parties will soon be available on the blockchain without additional costs incurred from traditional banking. It also means that users can experience faster processing times and have complete control of their funds.
Banks are in the business of staying profitable while offering limited incentives to customers. The current SWIFT network of the banks does not send funds. It sends payment orders through many intermediaries who add costs on top of the transfer, unlike in the blockchain world, where users facilitate payment directly to the receiver. This process taking place in the blockchain space is known as the decentralized peer-to-peer network.
Blockchain technology is one of the most advanced and has significantly impacted various industries. Nytro Chain has the potential to bring mainstream adoption to the blockchain space. It focuses on making an easy-to-use system with a seamless experience for end users, enabling the transfer of value across blockchains. With these features and more, Nytro Chain could be a prominent figure in the future of payment systems.
About Nytro Chain
Nytro Chain is designed specifically for enterprise-level business applications. The platform’s goal is to provide a scalable and flexible solution for businesses looking to simplify their payment processes.
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