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When you make a oversea money transaction the banks take up to 20%. For every electronic transaction a bunch of middle-men takes a percentage. Maybe there need
by z3t4 7y ago
When you make a oversea money transaction the banks take up to 20%. For every electronic transaction a bunch of middle-men takes a percentage. Maybe there need to be a payout for those that keep the system running? Like in Bitcoin mining ... But the thing is, transactions can be highly automated, with almost zero marginal cost (the cost of making yet a transaction when you already process millions per second). So the transaction fees for the middle-men is almost pure profit after a certain level. So there will be efforts to make sure any joint solution fails.
- gerikson 7y ago> When you make a oversea money transaction the banks take up to 20%. You need to comparison-shop the price of remittance: https://www.saveonsend.com/blog/welcome/#more-1 https://www.saveonsend.com/blog/welcome/#more-1