According to ConsenSys, blockchain offers various benefits for finance, includingstreamlined processesandaccess to international markets. These benefits enable financial institutions to operate more efficiently and expand their services globally.
Key Details:
Streamlined Processes: Blockchain eliminates intermediaries, automates workflows through smart contracts, and reduces paperwork, resulting in faster and more efficient financial transactions and record-keeping.
Access to International Markets: Blockchain facilitates cross-border transactions and reduces the barriers associated with currency exchange and international settlements, allowing financial institutions to expand their reach and provide services to a global audience.
Operational Efficiency: By automating and digitizing various financial processes, blockchain reduces costs, enhances accuracy, and simplifies compliance, making it easier for financial institutions to operate internationally.
Therefore,C. Streamlined processesandD. Access to international marketsare the correct answers, as these align with the benefits of blockchain for finance according to ConsenSys.
Contribute your Thoughts:
Chosen Answer:
This is a voting comment (?). You can switch to a simple comment. It is better to Upvote an existing comment if you don't have anything to add.
Submit