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There’s still a big market for companies or solutions that make cross border transactions cheap and quick. Conventional banks are far behind and quite expensive
by newscracker 7y ago
There’s still a big market for companies or solutions that make cross border transactions cheap and quick. Conventional banks are far behind and quite expensive. Even companies like Transferwise, InstaRem, Xoom, etc., aren’t the best in all the markets they work in (and they aren’t available everywhere either). Government regulations on cross border transactions matter, but that alone cannot be the reason why current conventional solutions have been so bad for a long time.
- vkou 7y agoCross-border transactions are quick and cheap, if you value counterparty risk appropriately.
- democracy 7y agoHa, the cost of an abstract "cross border transaction" is zero. The problems start when you want to cash in and out. At this stage welcome to the real world and appreciate the barriers Western Union/etc need to go through to comply with local AML/anti-terrorists/whatever laws. The "cryptocurrency" technology does not help in this case, that's the one of the crypto-shills agendas: 1. Cross border payments 2. Bank the unbanked 3rd world 3. Means to help for the hyperinflated currencies. 4. Store of value All of them are completely delusional and only work for people who never had to make those payments, know 3rd world from the discovery channel and learn about hyperinflation on CNN.