PYMNTS.com August 1, 2022
As businesses and financial institutions (FIs) look for the best returns on their payments infrastructure investments, blockchain technology has become an increasingly diverse and promising area to explore.
Among surveyed businesses that operate in 10 or more countries, almost 69% said they use smart contracts that trigger payments without human intervention when preset conditions are met, while more than 31% said they employ blockchain technology or cryptocurrencies in their asset management. Those numbers decrease for firms operating in fewer countries, and less than 25% of surveyed businesses operating in just two countries use smart contracts for payments.
There is interest in expanded use, however, with 42% of all businesses surveyed saying they use smart contracts for payments, while another 13%...
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