How Does Decentralized Governance in a Consortium Blockchain Impact the Finality of Cross-Border Payments?

Decentralized governance in a consortium blockchain can accelerate cross-border payment finality by removing central intermediaries. Instead of relying on a single correspondent bank, consensus is reached among multiple trusted nodes, allowing for faster validation and settlement.

This distributed trust model reduces processing delays and single points of failure. However, achieving consensus among geographically dispersed nodes can introduce latency, potentially affecting the speed of finality compared to a centralized system.

The specific consensus mechanism used is a key determinant of the overall speed and finality.