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How efficient is today's overseas payment system?
So while the international payment system still has room for improvement, there is progress being made through collaboration between countries, new technologies, and innovative approaches. But more work is needed to make cross-border payments as efficient as domestic ones.
what is your opinion???
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Chemical Bull
Today's overseas payment systems are increasingly efficient due to digital advancements, offering faster transactions, lower costs, and improved accessibility worldwide.
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@chemical_bull probably... but now stability of the currency is quite dicey... the dollar is loosing its importance... dont know what the future holds.
Ah, the overseas payment system, like that one friend who's always fashionably late to the digital efficiency party! Here's to hoping it catches up soon with the speed of domestic transactions!
Cross-border payments have come a long way in recent years through initiatives like SWIFT gpi, but there's definitely still room for improvement. Blockchain and digital currencies could be game changers in making international payments faster and cheaper. I'm curious to see how central bank digital currencies (CBDCs) and stablecoins evolve in this space. Exciting developments ahead but agreed that more collaboration is needed to truly streamline the global payment rails.
@evelynrosesinclair couldnt agree more Evelyn. Crypto and Blockchain are making things way more FOR THE PEOPLE, BY THE PEOPLE! ... yeah i know there are disadvantages too... but hey... it is what it is, right ?