Sentences with phrase «valid in a closed system»

Not exact matches

So currently, the closest you can get to «automated payments» is to have a smart contract do something on a distributed ledger, which is detected by a separate system (presumably centralised) which then creates a bank payment message or SWIFT message, which is then fed to the relevant system or portal, which will then determine whether it is a valid payment or not, which then creates a debit / credit in the relevant bank ledger.