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Comment by BurnGpuBurn

"Bitcoin is positioned to disrupt the remittances industry in El Salvador, estimated at about $5 billion annually. Most families in towns like El Zonte do not have bank accounts, and rely on services such as Western Union WU +0.5%, which take 5-10% in fees. The closest Western Union is approximately one hour by bus, requiring the recipient of the cash transfer to take the bus back with cash on hand, creating a safety issue." [0]

[0] https://www.forbes.com/sites/tatianakoffman/2020/07/14/this-...

parent BurnGpuBurn 5 years ago

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