This is not for crypto meme lovers...
The ISO 20022 standard is an international protocol for the transmission of financial messages that seeks to improve the efficiency and security of transactions. By adopting this standard, cryptocurrencies can benefit in several ways that position them for superior growth compared to those that do not use it:
Improved Interoperability: ISO 20022 facilitates communication and transactions between different financial systems, both traditional and digital. This allows cryptocurrencies to integrate more easily with existing banking systems, which can increase their global adoption and use.
2. Greater Acceptance: By being aligned with an internationally recognized standard, cryptocurrencies that use ISO 20022 are more likely to be accepted by financial institutions and businesses. This can lead to increased demand and, therefore, an increase in their value.
3. Cost Reduction: ISO 20022 is designed to make transactions more efficient and cost-effective. By reducing the costs associated with transactions, these cryptocurrencies can offer lower fees, making them more attractive to users and merchants.
4. Security and Accuracy: The standard improves security and reduces errors in financial transactions. This generates greater trust among users and can lead to an increase in the adoption and use of these cryptocurrencies.
5. Facilitation of International Payments: ISO 20022 is particularly beneficial for cryptocurrencies that focus on international payments. By facilitating fast and inexpensive transactions across borders, these cryptocurrencies can gain a competitive advantage in the global market.
Cryptocurrencies Using ISO 20022:
$XRP P (Ripple)
$ADA (Cardano)
As to
$ALGO (Algorand)
-$Ivy
- IOTA
-$XVG (Verge)
$
These cryptocurrencies seek to leverage the benefits of standardization to improve integration with traditional financial systems and facilitate greater adoption.