Too Long; Didn't Read
The global remittances market is a great example of a legacy financial industry acting largely as a toll collector for the unbanked. However, cryptocurrencies and the blockchain have the potential to provide almost instant transfers of money from one country to another. With truly nominal fees, migrants who wish to send money home will no longer have to <a href="http://remittanceprices.worldbank.org/en" target="_blank">spend an average of 7% in commissions and fees</a>.