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Blockchain Disrupting the Remittance Market – MigrantCoin

by January 22, 2023

Blockchain-based decentralized money transfer powered by users. Possibility to send money home straight from your virtual wallet. No bank account needed. First blockchain-based reversible money transfer method.

Satu mare, Romania, 2nd Aug 2022, introducing a new Money Transfer Method and MigrantCoin, a new blockchain and token as the incentive mechanism for the masses of people who work abroad or who see themselves forced to leave their homeland. MigrantCoin is used as an incentive to encourage individual users to send money home or to others, while having the guarantee of minimum effort and maximum security. 

  • It is estimated that there are a lot of persons all over the world that are considered to be non-banking, which means that these persons do not have bank accounts or they are not used with the banking financial payment devices.
  • It is also known that most of these persons send cash money through occasional deliverers risking that the money to be lost or not arriving at the destination.
  • It is rather difficult and risky to send money to different locations because the method is not controllable and it is not as safe as a banking transfer should be.
  • Their disadvantage is that they request the interested person to move to a post office, to fill in some forms, to pay very big commissions, which means lost time, expenses, human effort and, most of all, the fact that the person depends on an office located in a certain place. Therefore, the existent solutions are not accessible to any person no matter its location

As blockchain technology continues its growth, platforms become increasingly more capable to handle practically real-time transfers. Blockchain is turning into an important instrument for cross-border payments/remittances. Unlike conventional payments frequently moved by payment processors, for example, through banks, blockchain payments occur right in the system. The outcome: payments occur at a faster pace. MigrantCoin improves the speed of sending money in cash by using blockchain and it solves the delivery problem, the main delay reason.

Also a microloan feature will be added in near future

 

 

Media Contact

Organization: MigrantCoin

Contact Person: cosmin tuturas

Email: Send Email

City: satu mare

Country: Romania

Website: https://migrantcoin.com

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