Blockchain sounds like a solution to a 19th-century railway problem, but lately, it’s on the lips of every executive who wants to solve the problem of 21st-century digital transactions.
Blockchain technology is a way of recording and storing digital transactions. It’s a distributed ledger that allows transactions from one verifiable party to another on a network that everyone can “see” but no one can change, defraud or clip the ticket along the way. Some people have called it “the internet of value”, others refer to it as a “trust network” but everyone agrees it’s the best way of wheeling and dealing on the net.
The idea is that blockchain will become the infrastructure for the digital age as people realise that its characteristics — identification, frictionless transfer, tamper-proof storage and trust between parties — can be used for any asset.
The list of uses is already large — banking transactions, share trading, unsecured loans, recording property titles, trading in diamonds, artworks and currencies, managing insurance and tracking mining equipment.
We are a fintech company that has already launched in this space is Flash Payments. Based in Sydney Australia, we have engineered Flash Payments from the ground up to deliver intelligent foreign exchange transfer payments without hidden fees using Ripple’s Interledger Protocol. This allows us to deliver transfer funds virtually in real-time instead of the traditional batch-and-file protocol used by the banks and frankly many other fintechs. And we are doing so without charging hidden fees.
Flash Payments provides a competitive alternative to the existing opaque, siloed and inefficient banking networks.
A great user experience is at the centre of the Flash Payments approach.
Built on the aforementioned common global infrastructure we bring new efficiencies to financial remittances by enabling near real-time settlements, improving visibility and reducing risk. Flash Payments delivers tangible advantages from a technical, a financial and user experience perspective.
Using the innovative Ripple technology platform and XRP, Ripple's digital currency, Flash Payments delivers extraordinary transparency, speed and transactional control to users, setting a new level of service standard.
The exceptional transparency is a foundation stone to building trust.
At Flash Payments we enable users to select the transfer date; pick the rate; send funds like an email; track transfers like a package; all without any surprise charges. There are none.
This is in stark contrast to the banks, where global payments cost more, take more time, and the routeing is hidden.
So, whether you are a business or an individual, you can now skip the banks and take control of your foreign exchange transfers.
We're transparent. No deceptions.