Comment on UN-Backed Awards Scheme Seeks Startups in Cross-Border Money Transfer Innovation by Does Bitcoin/Blockchain make sense for international money transfer?

A United Nations backed initiative, the Remittance Know-how Awards (RemTECH) is trying for cross-border funds pacesetters looking for to positively impression the business, mentioned the orgainisers in a press release launched final week. 

The initiative is aligned with the International Discussion board on Remittances, Funding and Growth, which takes place in Kuala Lumpur, Malaysia on Could eight, 2018, the place the awards will probably be offered. The target is to lift consciousness and promote dialogue and cooperation between governments and entrepreneurs on how migrant remittances contribute to world financial growth.

Based on the organizers of the occasion, which has recieved backing from the World Financial institution, in addition to the UN Division of Financial and Social Affairs, digital currencies now signify a fifth of all international money transfers.

RemTECH Awards Director, Hugo Cuaves-Mohr, estimates that volumes of private and enterprise international money transfers despatched utilizing digital currencies hit USD 182 billion in 2017, almost a fifth of the overall USD 1.03 trillion international transfers performed by the business.

The World Financial institution estimates that remittances to low and middle-income international locations, alone, will develop by three.four p.c in 2018, to USD 466 billion. India stays the largest middle for remittance flows, with a complete of USD 65 billion anticipated this yr, adopted by China, the Philippines, Mexico, and Nigeria.

Prior to now years, remittances have proven to be extra steady than non-public capital movement into low and middle-income international locations, in line with the assertion.

Highlighting the important thing function of the know-how throughout the mission, a part of the awards voting course of will probably be scored utilizing a blockchain-based platform, developed with Horizon State know-how and in collaboration with Yokip Consulting, in line with the assertion. The blockchain tally will confirm that the voting occurred independently and supply an auditable account of the scoring, whereas conserving votes nameless.

The organizers are calling for submissions on groundbreaking merchandise, companies, analysis, and initiatives in international funds. The time limit for submissions is 30 March, 2018,

Web site hyperlink:

  • Civil Desires to Make Information Extra Moral – July 23, 2018
  • GeTS Hyperlinks ASEAN and China with Cross Border Commerce Blockchain – July 20, 2018
  • A SVPER Safe Instantaneous Video Relationship Community – July 20, 2018
  • Change Launches Cellular App for Payment-Free Crypto Buying and selling – July 20, 2018
  • IAB Tech Lab Lifts Veil on Digital Promoting Potential – July 19, 2018
  • Grid7 Will get $1 Million DOE Grant for Decentralized Power Grid – July 19, 2018
  • Seth Shapiro’s Blockchain TV Platform Desires to Enhance on Netflix with “Proof of Engagement” – July 19, 2018
  • Korean Fund Hashed Backs Advert Platform XCHNG – July 18, 2018
  • TaTaTu is Giving Away $50 Million in Tokens – July 17, 2018
  • CoinFlip Provides Sprint to US Crypto ATM Community – July 17, 2018
  • UK Can Turn out to be Blockchain Chief by 2022: Report – July 17, 2018
  • Tezos Provides Innovation Grants for Platform Initiatives – July 16, 2018
  • Content material Safety Platform Typerium Recordsdata Patents – July 16, 2018
  • 4NEW is Mining Crypto with Waste Energy – July 16, 2018
  • Fujitsu’s Enterprise Evaluation Service Provides Speedy Crypto Undertaking Overview – July 13, 2018
  • Binance Backs Malta’s Decentralized Founders Financial institution – July 13, 2018
  • Self-Regulation is an Choice for Crypto Exchanges: AEI – July 12, 2018
  • Pundi X Places POS in Hong Kong Eating places – July 12, 2018
  • TokenPay Strikes Deal With Litecoin to Purchase Stake in WEG Financial institution – July 12, 2018
  • ConsenSys Joins Blockchain Consortium to Disrupt Mineral Buying and selling – July 11, 2018

View All Articles

About Tom Greenly

Check Also

4 Prominent Ethereum Scaling Projects for 2019

Regardless of the cryptocurrency costs not trying all that nice at this stage, there are …

Markets Update: Bulls Show Signs of Exhaustion as Crypto Prices Taper

Cryptocurrency costs have dipped barely since our final markets replace as most digital belongings are …