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2024 | OriginalPaper | Buchkapitel

Pioneering a New Era of Global Transactions: Decentralized Overseas Transactions on the Blockchain

verfasst von : Khadeer Dudekula, Panaiyappan K. Annapurani

Erschienen in: Micro-Electronics and Telecommunication Engineering

Verlag: Springer Nature Singapore

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Abstract

Nowadays, it has become harder to transfer money overseas. Overseas transactions have intermediaries and lengthy settlement times, leading to increased remittance taxes due to financial institutions and regulatory requirements. Based on the review, we propose a novel approach using blockchain technology for overseas transactions. By using a decentralized finance application in blockchain technology, we are creating an application that converts the fiat currency which is an actual currency into a stablecoin (USDC). This stablecoin is transferred using blockchain and the user receives it back as a fiat currency. We process overseas transactions with lower remittance taxes and in less duration efficiently and securely.

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Vorheriges Kapitel Explainable Artificial Intelligence for Deep Learning Models in Diagnosing Brain Tumor Disorder

Nächstes Kapitel A Perspective Review of Generative Adversarial Network in Medical Image Denoising

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Titel: Pioneering a New Era of Global Transactions: Decentralized Overseas Transactions on the Blockchain
verfasst von: Khadeer Dudekula
Panaiyappan K. Annapurani
Verlag: Springer Nature Singapore
Buch: Micro-Electronics and Telecommunication Engineering
Print ISBN: 978-981-9995-61-5

Electronic ISBN: 978-981-9995-62-2

Copyright-Jahr: 2024
DOI: https://doi.org/10.1007/978-981-99-9562-2_14

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