One of the most visible ways blockchain is vietnam phone number sample transforming B2B transactions is through the elimination of middlemen. Traditionally, many business transactions require a trusted intermediary or the intermediation of a financial institution. However, blockchain enables direct transactions between parties, eliminating the need to trust a middleman and reducing the costs associated with their services.
Banks are increasingly interested in implementing blockchain technology, seeing it as a great advantage for international transactions between them. Although it is mainly known for its applications in cryptocurrency transactions, this technology is finding increasing use. Although blockchain was initially mainly associated with cryptocurrency transfers, it is now also being used in restaurants and shops as a new method of payment with cryptocurrencies. The development of these examples of blockchain use in everyday life for payments has contributed to the growing interest of banks in this technology. Thanks to the low cost and speed of international transactions, blockchain allows for a considerable reduction in transfer costs. BitPesa in Africa, for example, has achieved a reduction of up to 90% in the costs associated with international transfers.