56% Of Large Enterprises Globally Will Plan To Adopt Blockchain Technology By 2020 For Transactions, Such As International Payments: Research

More than half of large enterprises, 56%, will use blockchain-driven technology for transactions,  such as cross border, international payments transactions, research by SpiceWorks in its report, “2019 State Of IT,” shows. Blockchain offers quicker payment processing, accurate smart-contract and general ledger transparency and cost-savings due to the elimination of third party records. The remaining matter is fraud mitigation — a serious issue in these large transactions within the blockchain ecosystem. Enter iQSTEL Inc.’s (OTC: IQST) subsidiary, itsBchain, and its new blockchain software which virtually eliminates fraud in payment processing.

Blockchain is making news daily. Media companies such as Stock Market Press are reporting on the fast growing blockchain and 5G telecommunications market. It keeps readers up to date on 5G company stocks such as iQSTEL Inc. (OTC: IQST), Motorola Solutions, Inc. (NYSE: MSI), China Mobile Limited (NYSE: CHL),Verizon (NYSE: VZ), AT&T Inc. (NYSE: T), T-Mobile US (NASDAQ: TMUS), Sprint (NYSE: S) and Ericsson (NASDAQ: ERIC), HIVE Blockchain Technologies Ltd. ( (OTC: HVBTF) and Long Blockchain Corp. (OTC: LBCC)  in 5G and blockchain networks. Also covered are trends by semiconductor manufacturers Qualcomm (NASDAQ: QCOM), Qorvo (NASDAQ: QRVO) and Skyworks Solutions (NASDAQ: SWKS), among others.

56% Of Large Enterprises Globally Will Plan To Adopt Blockchain Technology By 2020 For Transactions, Such As International Payments: Research.

The SpiceWorks research findings report that large international financial institutions are turning to blockchain technology for smart contract-like transparency in providing to all parties visibility of payments. Blockchain is also quicker in completing these transactions and less costly. ItsBchain has new software that can virtually eliminate fraud, a critical issue in the large transaction payment processing transactions. Blockchain is also seen by experts as offering digital records to document transactions and, if necessary, not only prevent fraud but play a role in the recovery of stolen monies after the fact. 56% of large enterprises globally will plan to adopt blockchain technology by 2020 for transactions, such as international payments: research.

iQSTEL Inc.’s (OTC: IQST) subsidiary itsBchain Shortens Processing Time

iQSTEL Inc.’s (OTC: IQST) subsidiary, blockchain solutions provider itsBchain, has completed its blockchain-based payment solution software blueprint which addresses global banking’s issue of international fraud and inefficient receivables timing. It can make fiscal transactions more transparent, virtually eliminate fraud and can shorten the receivables timeframe from 35-40 days currently to as little as one day.

The blueprint is for Voice, SMS and Data Wholesale Carrier Settlement and Payment Platform for Tier 1 Carrier Interconnects such as Telefonica and Deutsche Telecom. Blockchain-driven quick payment solutions between telecom carriers in demand; iQSTEL Inc.’s subsidiary itsBchain software is fast, mitigates fraud. 56% of large enterprises globally will plan to adopt blockchain technology by 2020 for transactions, such as international payments: research.

From The Dark Ages To The 21st Century

Blockchain’s technical ledgers and smart contracts offer efficiency and transparency in international payment processing. iQSTEL Inc.’s (OTC: IQST) 75% owned subsidiary itsBchain is applying that technology to speed up global processing of receivables and virtually eliminate fraud in these transactions.

Mr. Iglesias, CEO of iQSTEL Inc. (OTC: IQST), said, “Blockchain technology is turning the payment processing world upside down. Rapid processing with fraud mitigation all in one forensic friendly system will drive the Telecom market out of the dark ages into the 21st century.” The software blueprint is for its blockchain-based Voice, SMS and Data Wholesale Carrier Settlement and Payment Platform.

The Payment System Is Designed To Bring Transparency, Efficiency And Increased Profits

Mr. Iglesias said, “Today, the carrier interconnection market is worth hundreds of billions of dollars per year and our system will bring transparency, efficiency and increased profits to the carriers.” Blockchain-driven quick payment solutions between telecom carriers in demand; iQSTEL Inc.’s subsidiary itsBchain software is fast and mitigates fraud.

Mr. Iglesias of iQSTEL Inc. (OTC: IQST), said, “The demand for an efficient Tier-1 payment system is felt across the telecom industry as a whole. Currently, receivables time frames are 35-40 days. Our vision in istBchain is to be the first blockchain solution for this market, dramatically reducing the receivables time frame to as little as a day.”

itsBchain Positioned To Develop Telecom Applications Based On Blockchain Technologies

iQSTEL Inc. (OTC: IQST) recently acquired the 75% stake of itsBchain, which has completed its blockchain-based payment solution software blueprint for Telefonica, Deutsche Telecom and other Tier 1 Carrier Intercepts. The significance is that the blockchain technology blueprint software is disrupting the global banking industry and addresses timing and fraud issues of fund processing in the banking and telephonics industries.

Mr. Iglesias said itsBchain has under development a number of projects, including mobile number portability and carrier wholesale VoIP, SMS and Data payment solutions. Blockchain-driven quick payment solutions between telecom carriers are in demand due to their speed, accuracy and fraud mitigation.

iQSTEL Inc. (OTC: IQST) Adds To Telecommunications Subsidiaries

In addition to its 75% stake in subsidiary itsBchain LLC, iQSTEL Inc. (OTC: IQST) wholly owns Miami-based subsidiary, Etelix.com USA, LLC, an American-based 5G provider of Submarine Fiber Optic Network capacity for internet (4G and 5G). It owns 51% of SwissLink Carrier AG. SwissLink Carrier AG provides international VoIP connectivity worldwide and more. It owns 51% of QGlobal SMS LLC, a U.S.-based company which has international interconnection with Tier 1 SMS aggregators to more than 100 countries worldwide.

Source: Stock Market Press

Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.

Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.

Contact:

Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.com

Safe Harbor Statement: Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press