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5G and Blockchain Could Lead to Secure Mobile Banking

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A combination of 5G and blockchain could help banks secure their apps. Banks are already using blockchain for security. Distributed ledger technology can authorize transactions without the need for a central authority. Even if the central authority, like the bank’s server, is compromised, the network can still process transactions.

5G and blockchain could combine to make this system even more effective. Richard Dennis, founder and CEO of cryptocurrency company TemTum explains,

“BLOCKCHAIN CAN SECURE MOBILE BANKING NETWORKS THAT WILL HAVE TO SECURE TRANSACTIONS ON A VERY GRANULAR LEVEL, WHILE 5G ITSELF WILL MAKE SURE THESE COMPLEX NETWORKS DON’T STRAIN UNDER THE WEIGHT OF BLOCKCHAINS.”
“IF CRYPTO NETWORKS CAN DELIVER PAYMENTS SOLUTIONS TO THESE POPULATIONS, IT WILL BE A MAJOR STRIDE FORWARD FOR BOTH THE UNBANKED AND UNDERBANKED.”

@TradeCryptoNow
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