Remittance & Blockchain — Match Made In Heaven ?
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Remittance & Blockchain — Match Made In Heaven?Remittance is the transfer of money from a migrant worker to someone back in their home country. People have always moved in search of better work prospects in high-income (or high currency value as compared to home) countries. Based on the World Migration Report 2018, there are currently an estimated 244 million international migrants living in other countries. This number has either directly or indirectly contributed to the global remittance’s $689 billion dollar industry with India being top of the pile, contributing $80 Billion or 11.6% of its entirety. The global remittance industry is expected to grow by more than 3% in 2019.Traditional Remittance MarketCompanies such as Western Union and MoneyGram come to mind when we talk about (...)
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