s businesses worldwide join the push for streamlined money transfers and cross-border transactions, blockchain emerges as one of the most discussed new technologies of our times.
The advent of cryptocurrencies highlighted the transformative potential of blockchain technology and showcased some of its core advantages, including decentralization, transparency and security. Today, its adoption continues to rise, with global spending on blockchain solutions projected to reach $41 billion in the US alone by 2025.
What is blockchain?
A blockchain is a public ledger of digital transactions available for viewing and verification by anyone. Imagine it as a series of puzzle pieces connected via a digital chain. Just like a puzzle piece contains a unique segment of an image, each block within the chain contains a set of secure transactions. The pieces fit together in chronological order to form a complete picture and each time a transaction occurs, a new piece is added.
The current phase of the internet, known as Web3, shifts its focus from centralization to a reliance on decentralized networks for data distribution. This has always been the primary objective of the blockchain (also known as Digital Ledger Technology or DLT) movement. It aims to take power away from central banks and governments, enabling automated processes that provide faster and more cost-effective payment solutions. However, to harness the advantages of any emerging technology, a considered approach is necessary.
Bill Gates exemplified this idea when he famously stated, “The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.”
At European Banking Solutions our specialized applications of DLT unlock value for businesses worldwide and across any industry. We actively address growth barriers and facilitate real-time global settlements for currency exchange by harnessing the key benefits of blockchain.
Safeguarding your digital assets
By design, blockchain enables users to access the complete history of a digital ledger and all its transactions. This empowers you to directly exchange information without the necessity for third-party intermediaries. As all financial transactions are traceable, blockchain is highly effective at preventing fraudulent activity and money laundering.
Cost efficiency and speed
Blockchain technology also provides a cost-effective method for sending payments that outperforms the processing times of traditional transfers. While banks typically charge a fee for verifying transactions, blockchain eliminates third-party verification, along with the associated costs. In addition, traditional payment systems typically operate within office hours, whereas blockchain functions around the clock, year-round. This feature proves especially advantageous for cross-border trades which often experience delays due to time zone disparities.
European Banking Solutions prioritizes both speed and transparency by eliminating hidden fees and enabling cryptocurrency settlements into your fiat bank account quickly and without size limits. Financial crime risk is mitigated through our rigorous upholding of AML and KYC regulatory compliance standards to ensure a consistently secure and dependable environment.
Our Crypto Payments solution epitomizes streamlined efficiency. We achieve this through the provision of an all-inclusive package, complete with a dedicated crypto-friendly IBAN, access to crypto wallets, and same-day settlements in fiat currency. In our self-custodial setup, we safeguard your cryptocurrencies within a single account, accommodating 30+ currencies and including a wide array of popular cryptos.
We specialize in high-ticket, high-return clients, including High Net-Worth Individuals and merchants in sectors including iGaming, Online Betting, and Real Estate.
For organizations interested in blockchain investments, having the support of a team of experts is crucial. No matter where you stand in your Web3 journey, European Banking Solutions is equipped to propel you forward. Contact us today to discuss the future of payments and discover how your business can get the most out of blockchain technology.