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?
This may be more relatable and applicable to international remittance as bitcoin save us the stress and hassle of conversion and the hitch of variation of accounts, currently bitcoin is breaking barriers at international levels for funds transfer such that values are maintained amidst the variation of currency values, but a better adoption will be when there's more local adoptions.