Juniper Research has found that banks will record a 3,300 percent growth saving $10 billion in 2030 from $301 million in 2021 as a result of the increasing drive in the deployment of blockchain for cross border settlement. The report said with the expansion in the number of integrations with major payment players across broad trade corridors, blockchain solutions such as RippleNet and Visa B2B Connect are already offering significant payment efficiencies compared with legacy systems..
The report also shows analysts’ expectation of an increase in blockchain adoption over the next decade, with two billion cross-border transactions to be facilitated by blockchain in 2030, as blockchain networks continue to build.
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