SOME OF BOOMING INDUSTRY ARE NOW SUFFERS STAGNATION

Don't you think this is just fairy tales? As per recent statistics of World Bank they confirmed almost $700bn was remitted globally throughout 2018. People will send money around the world and no one can stop that and that's our traditional payments transaction. While some of the fees remain high and some are not. They're not necessarily a hurdle for those in dire need of transferring money.

Largest receive markets as per google

Among countries, the top remittance recipients were India with $79 billion, followed by China ($67 billion), Mexico ($36 billion), the Philippines ($34 billion), and Egypt ($29 billion).

Photos from https://topforeignstocks.com

 people continue to send money around the world through traditional payment providers. Secondly, while the fees remain high, they are not necessarily a hurdle for those in dire need of transferring money. Third, India, China, and Mexico are the largest receive markets. Two of those countries genuinely oppose cryptocurrencies and their technology.

2018 were: India, China, Mexico and no. 4 in the Philippines.

As such, it is not entirely abnormal, the remittance industry suffers from a fair degree of stagnation. It is not cheap to send money around the world, even though the industry is still booming regardless. Finding solutions to not only make operations cheaper but also vastly more efficient, needs to be the number one priority. That is why companies such as MoneyGram are looking at innovative services and technology to further solidify their position in this industry. 

It is evident the current remittance industry is prone to disruption. Whether it is due to decentralized ledgers or cryptocurrencies, there is plenty of room for improvement. MoneyGram CEO Alexander Holmes is quite pleased with the improvements Ripple has offered to his company. He now firmly believes blockchain technology will change the remittance market for good. 

The full article is here

https://themerkle.com/moneygram-ceo-expects-blockchain-to-disrupt-the-remittance-industry/