Over 100 Migrant Workers Test Blockchain Remittance in Thailand

[X7]

https://medium.com/everex/over-100-migrant-workers-test-blockchain-remittance-in-thailand-19d49505d732#.3fz8hfvdw

Over 100 migrant workers transferred money instantly over blockchain to their homes in Myanmar in the last months.

[1714836730]

1714836730

[envaluecrypto]

It's just a matter of time before everyone starts using it..

[AT101ET]

I'm not sure if this is in the right section but it makes for a great bit of reading nonetheless. I'd be interested to know more how those on the receiving end actually receive their money. If EVEREX are converting it back to FIAT then it's pretty much only a one way stream. Also, they used ETH and not BTC but at the end of the day it's still progress for Blockchain technologies.

[Factmine]

Maybe you should move this to the press section. Regards the topic, I think this would really be the future of finance as it is a global currency and there is really not much fees that is required to transfer even if the transaction is international. Though the problem is see here is that the demand for bitcoin in that country would be a problem. If they can't cash it out, then there is no point.

[notech]

That is nice to hear and I bet they would take a lot of advantage by using it

[Dmitry.Vastov]

This is great since the government of Thailand decides to ban bitcoin https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country
They adopt blockchain technology for remittances. So they can experience this kind of technology. Hope the fees are the same as bitcoin transfer fees. Im just wondering. Why dont they use bitcoin instead of this?

[pinkflower]

It's just a matter of time before everyone starts using it..

Everyone? Its not as easy as that. Remittances via the BTC blockchain is only useful and will make more sense of a government of a certain country is very restrictive in getting money in and out of that country. Imagine if Donald Trump ordered to start to have more restrictions for US dollars to be sent out of the country. BTC will be the best option to send money outside the United States.

[robelneo]

Soon everyone and everybody will be using similar tools and applications,in my country we have millions of immigrants and overseas workers,but unfortunately we  do not have one set up,we have one coin coming up and hopefully we can start from here.

[pinkflower]

Soon everyone and everybody will be using similar tools and applications,in my country we have millions of immigrants and overseas workers,but unfortunately we  do not have one set up,we have one coin coming up and hopefully we can start from here.

No not everyone will use similar tools and applications unless the banks who run everything says they will. They are in charge so blockchain remittances going in and going outside of any country will be used only by a small minority. Banks will serve a majority of all transactions for a very long time.

[jaberwock]

Do they have Bitcoin exchanges in Myanmar

As far I know they are a military government that is closed in many aspects, including economicaly, and are a poor country with controlled internet, so I guess Bitcoin would not be much popular there. I thought BTC would already have been banned or heavily controlled in Myanmar

[neochiny]

Sending remittance via blockchain could be cheaper indeed but it's still
too complicated.

This might work for the younger, more tech-savvy people, but not so much for the traditional older ones.

I dunno. Probably just me, but I still don't even know how I could get my father(who's got no idea about Bitcoin/Cryptocurrencies/Blockchain) to send money/remittance via the blockchain. There's just to much room for error and mishaps.

[ikydesu]

Sending and currency conversion both happened in less than a minute and incurred no transaction fees.

The company showed good services to presenting such services especially in massive scale which people can aware about this technology, it's can boost cryptocurrency system to high level.
But the lack is the education for use, ok it's successful has been remittances but they can continue to use it again in the future? It's need more learn and understanding.

[pinkflower]

Sending remittance via blockchain could be cheaper indeed but it's still
too complicated.

This might work for the younger, more tech-savvy people, but not so much for the traditional older ones.

I dunno. Probably just me, but I still don't even know how I could get my father(who's got no idea about Bitcoin/Cryptocurrencies/Blockchain) to send money/remittance via the blockchain. There's just to much room for error and mishaps.

It can be made as easy as using facebook or twitter. These days there are already a lot of old people using those platforms. So being too complicated is the least of their problems. The big problem is the network is taking hours for a transaction to have 1 confirmation. Sometimes it will take day.