Bitcoin Watch – WTO believes blockchain technology is destined to have a disruptive impact on the world’s financial system

    In a new report entitled, The future of world trade: How digital technologies are transforming global commerce, the World Trade Organization (WTO) singled out blockchain technology, and specifically Ripple, as having the potential to completely disrupt the world’s financial system. Blockchain has “the potential to profoundly transform the way we trade, who trades and what is traded,” says the report, while singling out Ripple as being able to radically change how financial institutions move money. “Ripple has ambitions to circumvent the correspondent banking model through its distributed ledger platform. It gives banks the ability to convert funds directly into different currencies in a matter of seconds and at little to no cost, without relying on correspondent banks.”

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