Blockchain technology can enable micropayments, which are small digital payments that are typically too small to be processed by traditional financial systems. This can open up new opportunities for businesses to monetize their products and services in novel ways.
Blockchain-based smart contracts can be used to release payments automatically when certain conditions are met, such as the delivery of goods or services. This can help to improve cash flow and working capital management for businesses.
Blockchain can be used to track and manage digital assets, such as loyalty points or rewards, in a transparent and secure manner. This can help businesses to prevent fraud and better understand how their customers are using their products and services.
Blockchain can be used to verify the identity of users in a secure and efficient manner. This is particularly important in embedded finance applications where KYC (know your customer) compliance is required.
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