Concept of a Regulatory Compliant Blockchain Based Instant Payment System. Limitations and Compromises
Vadims Zilnieks · 2020
New technologies of communication along with global expansion of smart devices are connecting customers and services at high speed. But at the level of financial technologies this movement is comparable slow. Schema remains centralized by structure. Instant payments in traditional banking were applied just in the last five years. This paper presents a concept of a system based on peer-to-peer networking mechanisms like blockchain and smart contracts, and integration of regulatory services in order to be legal and compliant.