The age of ‘bankless’ global money transfer dawns as blockchain technology sounds the death knell of money changers

The global money transfer industry is under threat. With high fees, a war on cash and the growing trend of “de-risking” by banks, the traditional means is no longer effective in serving the two billion people who are unbanked.

Bankless, cash-based societies are where the real money transfer market lies, with global remittance flows to developing countries reaching a record of US$466 billion in 2017.

In recent years, blockchain technology emerged as the solution to enable a global money…

Source link

Related posts