Category: Remittance
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DAOs (Decentralized Autonomous Organization) and Joining one
Decentralized autonomous organizations (DAOs) are a widely touted use case of blockchain technology (decentralized and autonomous), allowing people to gather in groups (organizations) in a borderless, web-native way. While the internet has allowed for mass coordination, it still has a lot of friction and costs involved in it. Like traditional companies or social clubs, members…
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Enhancing cross-border payments: Ripple vs. Stellar
Cross-border payments is estimated to be a c. $44b market in 2020, according to McKinsey estimates. While this was negatively impacted due to restricted travel regulations as well as international supply chain disruption globally, an increase in the adoption of e-commerce as well as digital payments provided a lift to this sector. However, cross-border payments…
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SingX – Remittance that is cheaper, faster and more convenient?
With the Southeast Asia remittance market estimated to be ~$80B in 2018 (from ~$48B in 2012), and intra-SEA to be ~$7B, with multiple pain points, especially in developing countries, that still exist, such as exorbitant, and at times hidden, fees (5-10%), unreasonable exchange rates or lag in fund transfer (typically 1-3 days), it presents a…