An estimate by the World Bank pegged 2016’s global remittance market at $573 billion, and a whopping $422 billion of that went to developing countries.
The simple act of transferring money from one country to another — more formally known as remittance — is one economic heavyweight of a market, yet blockchain technology is poised to change its operations anyway. Already well-suited for securely transferring units of value around the world, the same technology that powers holds great implications for the world’s remittance businesses.
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