How can the broken global remittance system be fixed?


Did you know, that more than $688 billion were sent home by migrant workers from around the world in 2018? Well, according to the World Bank report that is true. With such whopping numbers, it is still a shame that the costs of money transferring burns a hole in senders’ pockets. The global average cost of sending $200 was 6.9%, according to the last count in the third quarter of 2018.

The World Bank is looking for hero-like companies in a struggle with commissions and supposes to reduce them to 3%. Such justice by the moment can be provided only by blockchain based businesses. The Noah Project is among the first game changers to solve the issue.

The world economy goes global. 🌍
Unfortunately, bank remittance system is not ready for it.
Read our article on Medium and see how the Noah Project is going to solve this problem. 🏦