REVOLUTIONIZING CROSS-BORDER PAYMENTS: TECHNICAL ANALYSIS AND MARKET IMPACT
DOI:
https://doi.org/10.34218/IJCET_16_01_236Keywords:
Blockchain Technology, Cross-Border Payments, Distributed Ledger Technology, Smart Contracts, Financial IntegrationAbstract
Blockchain technology is revolutionizing cross-border payment systems by addressing longstanding challenges in global financial transactions. This comprehensive article explores the technical architecture, implementation frameworks, and future developments of blockchain-based payment solutions. It examines how distributed ledger technology and smart contracts transform traditional banking processes, enabling faster settlement times and reduced operational costs. The article delves into crucial aspects including cryptographic security measures, integration patterns with existing banking infrastructure, and scalability solutions for high-volume transaction processing. It encompasses regulatory compliance mechanisms, risk management frameworks, and standardization efforts that are shaping the evolution of blockchain payment systems. By investigating performance metrics, security protocols, and emerging technologies, this article demonstrates how blockchain technology is positioned to become the foundation of next-generation payment infrastructure, offering enhanced efficiency, transparency, and security while maintaining regulatory compliance and operational reliability.
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Copyright (c) 2025 Karthik Muccha (Author)
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