The rapid rise of cryptocurrency and blockchain technology has catalyzed significant conversations about trust, centralization, and decentralization in the digital age. One of the most compelling ideas behind the crypto movement is decentralization, and its potential to reshape the way we think about authority, governance, and trust. But what does it really mean to decentralize … Read more
Before diving into how cryptocurrency is changing the landscape, it’s important to understand how traditional cross-border payments work. Typically, international money transfers involve several intermediaries, including banks, payment processors, and clearinghouses. The process usually unfolds as follows:
At its core, a smart contract is a self-executing contract with the terms of the agreement directly written into code. Rather than relying on intermediaries like lawyers or banks to enforce an agreement, smart contracts run on blockchain networks and automatically execute the terms of the contract when predefined conditions are met.