Blockchain Startups Can Transform the Remittance Industry

The remittance industry is observed as one of the ripest for disruption given the high costs that currently exist within traditional remittances.

Money sent home by migrants accounts for one of the largest financial inflows in developing countries. In a world where the internet has opened up human communications and transactions, offering borderless solutions across the globe has become an essential aspect of human and economic relationships.

These relationships necessitate the need for monetary communication vehicles, whereby individuals and companies can send payments from one country to another, albeit at a cost. Of the several traditional remittance providers in existence today, one of the most popular within the industry is Western Union.

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