Is there any hope that money remittance will be the driver for mass adoption?

[ePesoInitiative]

I've been in crypto for a long time. One of the most fascinating things about blockchains is the ability to send value over the internet without relying on authority. Before it can only be done by trusting service providers like Paypal. And you will get screwed if they don't like you.

Internet businesses all need to be able to send/receive payments online. This is the biggest market of all. But after a decade, we still haven't seen a single crypto massively used by the public to send value.

What is the secret formula?

So I'm banking on projects that tackle this single issue: Remittance using blockchains. I track every development that further crypto remittance adoption. I think ETHARemit is one solution that could solve this.

[Danslip]

I've been in crypto for a long time. One of the most fascinating things about blockchains is the ability to send value over the internet without relying on authority. Before it can only be done by trusting service providers like Paypal. And you will get screwed if they don't like you.

Internet businesses all need to be able to send/receive payments online. This is the biggest market of all. But after a decade, we still haven't seen a single crypto massively used by the public to send value.

What is the secret formula?

So I'm banking on projects that tackle this single issue: Remittance using blockchains. I track every development that further crypto remittance adoption. I think ETHARemit is one solution that could solve this.

XRP is already used by big banks and Western Union as money remittance. The features offered blockchain attracts big payment gateway suppliers and they also want to implement blockchain to their system. XRP is centralized but big banks only support Ripple blockchain for this reason.

[salad daging]

Although Crypto's biggest function is for transactions or payments but crypto has not been used for that, crypto is used to transact only to buy or sell crypto, not to pay for anything other than crypto and this shows that crypto is still very far from the actual crypto destination and I think the cause because the price is too fluctuating so that when used as a payment, the value of the money received will be different from the value when they sell it, for example I sell something at a price of $ 1 then get paid using ethereum and because the price changes quickly I risk losing my money which should be $ 1 down to smaller
in my opinion that's the reason why crypto is still not used for payment

[ePesoInitiative]

XRP is already used by big banks and Western Union as money remittance.

Actually XRP had years ahead and it seems they haven't made a dent in the remittance scene.

I think the cause because the price is too fluctuating so that when used as a payment, the value of the money received will be different from the value when they sell it ... in my opinion that's the reason why crypto is still not used for payment

That's why the remittance sector is still up for grabs. I truly believe a crypto project should address the elephant in the room which is price volatility. The people at ETHARemit.org explained how they will tackle this issue of rapidly changing values of cryptocurrencies.

[tycsols]

Yes definitely there are high chances of crypto taking over the remittance industry in the future and as you have pointed out that even after ten years crypto is not accepted as payment i will just differ you on this point and i think many big corporations are already accepting payments in bitcoin and more and more outlets are also accepting it everyday, even some goverment institutions are also accepting crypto for tax and other payments so good developments are there we just need to unnderstand that this is a new technology and it will take time before it is massively afopted.

[10c]

Perhaps you are right and this project will indeed be successful, but now investing in new projects is dangerous.

[Kiweikoo]

Yes, as I always say, we have a future ahead of us and I know that future is going to be great.

I think bitcoin is already used basically as a mode of payment though some persons began to see it as a store of value after the rise in price we saw in 2017 that made the fees of miners so extreme, though this problem has already been solve by implementing segwit into the blockchain network.

[bttmember]

Well money remittance will be only one niche i think hundreds of niches, businesses and services will be upgraded by blockchain in few years and adoption will come naturally even now i think the awareness and use of crypto is on the rise.

[gunhell16]

I dont think money remittance will be the answer for the world adoption.
As cryptocurrency can be transferred from one wallet to another.
The only thing we can get us to the world is the merchants on every country allowing crypto to be a payment on their store.
Which will also include the acceptance of every government in this world!

[evanescence]

It has already been.
Bitcoin has helped so many people for whom Western Union is a ripoff - since 2012 AT LEAST.
Now with stablecoins and other improvements, things will only get better.

[daarul50]

One of the obstacles that makes crypto not used as a global payment is because of the uneven distribution of crypto usage in various countries, so that it makes people who want to transact with cryptocurrency find it difficult.

[livingfree]

But after a decade, we still haven't seen a single crypto massively used by the public to send value.

Ooops, you said that you have been into crypto for a long time but why say this? You haven't seen any single crypto that massively used for payments? I think you know what I'm saying and why I'm asking this to you. We have BTC.

I think ETHARemit is one solution that could solve this.

Oh, for those who doesn't read the whole idea or sentences at the very last of OP words you have the idea now why he haven't seen Bitcoin for a long time being used as a payment.

[HappyCaptain]

there are a huge number transactions for money remittance each day and if crypto penetrate this area like what XRP is doing then it would have some affect on the crypto market and may lead to the mass adaption for cryptocurrency.