Remittance market a prime candidate for disruption

Having gained some recognition as an ardent
advocate for cryptocurrency adoption, it is ironic that I recently chose to
receive funds in fiat money form over crypto.

Instead of receiving Bitcoin, I chose to use a popular money transfer operators (MTO) to receive funds from abroad. At this point, I wish to point out that prior to this transfer, I had indeed received payments from abroad in either Bitcoin or Ethereum form. 

The advantages of remitting or receiving funds via cryptocurrencies might be as clear as daylight but there are still many issues with such digital currencies that stop ordinary people from embracing them. For this particular transfer I had reasons for choosing fiat.

Now the objective of the next narration is to show why people (myself included) should seriously consider using other formal money transfer options (instead of MTOs) and why it is necessary to have such alternatives in the first place.

The subtle challenges

My unpleasant experience with one MTO began towards the end of last year.  A colleague based in the Netherlands had informed me their intention to remit a small amount of the Euro currency to myself. Had this arrived on time, this token amount would have probably brightened my holiday season given the excruciating experiences of that year.

The year 2019 started off with deadly protests over a sharp fuel price increase. Scores of people were injured while over a dozen were shot dead. These protests essentially set the tone for the rest of

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Posted from my blog with SteemPress : https://africablockchainmedia.com/news/remittance-market-a-prime-candidate-for-disruption/2020/01/23/

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