A new report by Ripple (XRP) focuses on how blockchain technology can increase the efficiency of small and medium enterprises (SMEs).
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In a report titled Big Opportunity in Small Business Payments, Ripple looks at how SMEs can develop cross-border payment systems using blockchain technology.
Ripple’s research highlights the lack of infrastructure in emerging markets for SMEs to make cross-border (B2B) payments between businesses, despite being a $10-15 trillion market.
Ripple’s report adds that the inclusion of intermediaries in existing global payment practices complicates the process.
71% of SMEs also report that cross-border payments are problematic.
Ripple believes that blockchain technology can improve cross-border payments for SMEs.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.