Importance of Blockchain Use in Cross-Border Payments and Evaluation of the Progress in this Area

Volume: 21 Number: 1 January 1, 2020
  • Orkun Bayram
TR EN

Importance of Blockchain Use in Cross-Border Payments and Evaluation of the Progress in this Area

Abstract

In the banking industry, blockchains are currently being investigated as an alternate interbank money transfer platform. However, the blockchain network structure has not matured yet, and there could be many issues and opportunities on fully operating such a system. The research about the use of blockchain for cross-border payment systems is speedily progressing, which is why there is need to frequently emphasize the progress and make assessments. In this paper we analyze and discuss the significance and progress towards using blockchain technology for cross-border payments through recent literature consisting of research articles and cases.

Keywords

References

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  3. Back, A., Corallo, M., Dashjr, L., Friedenbach, M., Maxwell, G., Miller, A., ... and Wuille, P. (2014, October 22). Enabling blockchain innovations with pegged sidechains. URL: com/papers/123/enablingblockchain-innovations-with-pegged-sidechains. http://www. opensciencereview.
  4. Böhme, R., Christin, N., Edelman, B., and Moore, T. (2015). Bitcoin: Economics, technology, and governance. Journal of Economic Perspectives, 29(2), 213-38.
  5. Buitenhek, M. (2016). Understanding and applying Blockchain technology in banking: Evolution or revolution? Journal of Digital Banking, 1(2), 111-119.
  6. Cachin, C. (2016, July). Architecture of the hyperledger blockchain fabric. In Workshop on Distributed Cryptocurrencies and Consensus Ledgers (Vol. 310). URL: https://www.zurich.ibm.com/dccl/papers/cachin_dccl.pdf
  7. Cheng, J., & Geva, B. (2016). Understanding Block Chain and Distributed Financial Technology: New Rails for Payments and an Analysis of Article 4A of the CC. Business Law Today, 25(7), 1-5.
  8. Collomb, A., and Sok, K. (2016). Blockchain/Distributed Ledger Technology (DLT): What Impact on the Financial Sector?. DigiWorld Economic Journal, (103). 93-111.

Details

Primary Language

English

Subjects

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Journal Section

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Authors

Orkun Bayram This is me

Publication Date

January 1, 2020

Submission Date

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Acceptance Date

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Published in Issue

Year 2020 Volume: 21 Number: 1

APA
Bayram, O. (2020). Importance of Blockchain Use in Cross-Border Payments and Evaluation of the Progress in this Area. Doğuş Üniversitesi Dergisi, 21(1), 171-189. https://izlik.org/JA63AC56YJ
AMA
1.Bayram O. Importance of Blockchain Use in Cross-Border Payments and Evaluation of the Progress in this Area. Doğuş Üniversitesi Dergisi. 2020;21(1):171-189. https://izlik.org/JA63AC56YJ
Chicago
Bayram, Orkun. 2020. “Importance of Blockchain Use in Cross-Border Payments and Evaluation of the Progress in This Area”. Doğuş Üniversitesi Dergisi 21 (1): 171-89. https://izlik.org/JA63AC56YJ.
EndNote
Bayram O (January 1, 2020) Importance of Blockchain Use in Cross-Border Payments and Evaluation of the Progress in this Area. Doğuş Üniversitesi Dergisi 21 1 171–189.
IEEE
[1]O. Bayram, “Importance of Blockchain Use in Cross-Border Payments and Evaluation of the Progress in this Area”, Doğuş Üniversitesi Dergisi, vol. 21, no. 1, pp. 171–189, Jan. 2020, [Online]. Available: https://izlik.org/JA63AC56YJ
ISNAD
Bayram, Orkun. “Importance of Blockchain Use in Cross-Border Payments and Evaluation of the Progress in This Area”. Doğuş Üniversitesi Dergisi 21/1 (January 1, 2020): 171-189. https://izlik.org/JA63AC56YJ.
JAMA
1.Bayram O. Importance of Blockchain Use in Cross-Border Payments and Evaluation of the Progress in this Area. Doğuş Üniversitesi Dergisi. 2020;21:171–189.
MLA
Bayram, Orkun. “Importance of Blockchain Use in Cross-Border Payments and Evaluation of the Progress in This Area”. Doğuş Üniversitesi Dergisi, vol. 21, no. 1, Jan. 2020, pp. 171-89, https://izlik.org/JA63AC56YJ.
Vancouver
1.Orkun Bayram. Importance of Blockchain Use in Cross-Border Payments and Evaluation of the Progress in this Area. Doğuş Üniversitesi Dergisi [Internet]. 2020 Jan. 1;21(1):171-89. Available from: https://izlik.org/JA63AC56YJ