Blockchain
Nacha Announces it is Building Phixius, a New Platform to EnableSharing of Payment-Related Information for the U.S. Financial Services Industry
Nacha announced today it is developing Phixius, an online platform that integrates technology, rules and participants to exchange payment-related information across all payment types. Phixius looks to modernize and streamline the payments process.
Nacha is building Phixius in response to industry calls to simplify and automate the process of exchanging payment-related information. Currently, the use of bilateral agreements creates inefficiency and restricts broader participation. Additionally, existing manual processing results in administrative errors, misdirected payments and opportunities for fraud.
Phixius is intended to enable companies to exchange payment-related information regarding products and services to improve fraud protection, automate manual processes and improve customer experiences. It can be used to reduce the cost of producing and sending checks and standardize information sharing. Nacha plans to make Phixius available to early adopter organizations in May 2020.
“Traditionally, the exchange of payment-related information has consisted of multiple bilateral agreements. Unfortunately, that limits broader industry adoption and fails to address today’s interoperability expectations. Phixius changes all of that,” said George Throckmorton Nacha Managing Director and Executive Director of Afinis Interoperability Standards. “Phixius eliminates the need for multiple data exchange agreements by leveraging blockchain technology, standardization and rules that govern network participants.”
By using blockchain, Afinis interoperable and standardized APIs, and ISO 20022, Phixius will provide the necessary features and functionality to safely and securely facilitate payment information exchange among all participants.
Nacha also announced that it has selected Ernst & Young LLP (EY) to help develop Phixius.
“EY is delighted to work with Nacha on the development of Phixius,” said Jennifer Lucas, Managing Director, Ernst & Young LLP and the EY Americas FSO Advisory Payments Lead. “This industry platform is designed to address many pain points in the adoption of electronic payments.”
To learn more about Phixius contact George Throckmorton at [email protected] or go to Phixius.org.
SOURCE Nacha
Blockchain
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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