Strategic collaboration between banks and startups in the blockchain and cryptocurrency is in the booming phase. Incumbent banks, challenger banks, regulators, and innovators are expressing sudden curiosity to explore the potential of these emerging technologies and their use cases. Due to more widespread education, there are more people trying to implement blockchain to facilitate payment systems, supply chain management and other services across all industries. Incumbent banks have also invested in blockchain startups, such as R3 blockchain consortium to facilitate trade finance platform that simplifies paper processing tasks across the network. However, there are still barriers that limit
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