Blockchain in the Remittance Business

CryptoDiceCryptoDice Member Posts: 90
You may or may have already heard about different interesting projects that blockchain has been used for since it has launched: cryptocurrencies, decentralized apps (dApps), government systems, healthcare, and uncommon ones like real-life betting, etc. But there is a great use for blockchain that is being used by companies nowadays that is not necessarily too mainstream yet but is doing a great job in helping those in need—money remittance.



Bitspark, is a blockchain-based remittance company that allows for money transfers without the need for a bank or intermediaries that requires extra fees. Since its establishment in 2014, Bitspark has helped lots of people save tons from the fees that the platform is able to cut. One of the most amazing stories behind Bitspark is its co-founder Maxine Ryan who is a 26-year-old dropout. While Ryan has no formal training on this technology and claims to be a non-expert on the blockchain, we have to be thankful for her efforts on creating this wonderful technology that allows people to convert cryptocurrency to cash all over the world without the need for intermediaries.

“I was looking to do something where I was really helping people,” Ryan said in an article by Karen Gilchrist in CNBC. And it all turned out great for her since she has really been helping people, indeed.



Resouce: https://www.cnbc.com/2018/11/26/this-26-year-old-dropped-out-of-college-and-built-a-multinational-blockchain-business.html

Comments

  • FromCtoSolidityFromCtoSolidity Member Posts: 4
    edited January 11
    Interesting business idea. Seems risky because compliance with existing regulations is probably the main cause for high transaction fees charged by existing financial institutions. Low fees imply non-compliance and therefore attract attention of law enforcement agencies.
    Post edited by FromCtoSolidity on
  • CryptoDiceCryptoDice Member Posts: 90

    Interesting business idea. Seems risky because compliance with existing regulations is probably the main cause for high transaction fees charged by existing financial institutions. Low fees imply non-compliance and therefore attract attention of law enforcement agencies.

    Blockchain is really great for money-related businesses. Why not try!
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