General Knowledge · General Awareness
Why is blockchain technology viewed as transformative in offering a decentralized and transparent method of handling financial transactions?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It restricts transparency in order to preserve traditional banking secrecy.
- 2It slows down international payments due to its complex verification process.
- 3It relies heavily on centralized authorities to validate every financial movement, which speeds up the payment process.
- 4It removes the need for intermediaries and increases transaction speed, especially in cross-border payments.✓
Correct answer
It removes the need for intermediaries and increases transaction speed, especially in cross-border payments.
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