Remittances are a huge part of the global economy but traditional money transfer services can be slow and expensive. Bitcoin offers a faster and more cost effective alternative. Could bitcoin disrupt the remittance industry and become the go to solution for cross border payments? What are the potential for bitcoin to change the way we send money internationally and what barriers still stand in the way of its widespread adoption for remittances?
Bitcoin blockchain provides more secure remittance method than traditional methods like bank transfers but it does not provide faster solution.
Bitcoin and traditional methods, future methods will exist together. Bitcoin won't kill traditional methods or future methods and other methods won't kill Bitcoin. It is a free society and world where people have freedom to choose their favorite methods and Bitcoin is one of their options. It can be most favorite for some people but it is not favorite choice with others.