Business Finance: Can Cryptocurrency Be the Future of Remittance: Ken Research
Business Finance: Can Cryptocurrency Be the Future of Remittance: Ken Research Finance & Investment Introduction: There has been an increasing trend by migrant workers in foreign mature economies like North America and Europe to send money back to their families in their home country in the form of Remittance. Research predicts that by 2030 there will be an inflow of USD 6 Trillion with about half being sent to Asia. The biggest recipients of this fortune would be to developing countries with high rural population – India was the largest remittance market in the world in 2017 with USD 69 Billion being sent back to India alone. India was followed by China with a remittance amount of USD 64 Billion and Philippines with USD 33 Billion being the three largest remittance markets in the world. Aside from these three, more Asian countries like Pakistan and Vietnam were also on the list with remittance amounts of USD 20 Billion and USD 14 Billion with all of the men...