Industry experts shed light on the transformative potential of blockchain technology in various sectors, particularly in enhancing digital identity solutions and revolutionizing overseas Filipino worker (OFW) remittances.
In the first transaction of its kind for the company, RockWallet has begun contacting clients to help them seamlessly continue their journeys in the digital asset landscape, without the need for redoing KYC or going through the inconvenience of onboarding again.
While it may not be obvious, human and physical capital and political climate in regions play a significant role in shaping financial policies impacting the payments sector, specifically remittances.
Owen Vaughan shared that nChain has been working with the Philippines government, where it’s building an identity management solution and a document signing tool on the BSV blockchain.
The Digital Dollar Project announced in a press release that it had completed a pilot study focusing on retail CBDCs, using a digital dollar in remittance payments to the Philippines.
Nigeria has now lifted a ban that it placed in 2020 allowing remittance payments only in the USD—experts say the move will re-ignite the dwindling remittances.
Centi partnered with Centbee to power remittances from Switzerland to African countries, and combined with the all-new Centi stablecoin, it could be a game-changer.
International money transfer operators are expected to apply for a one-time license to pay out funds in the eNaira, with the CBN providing account details for IMTOs to receive foreign currencies.
In one of the biggest announcements at the London Blockchain Conference, it was revealed that Centbee users can receive remittances through Centi stablecoin.
Blockchain is known as the system where Bitcoin was minted, but it is more than capable of just that, offering a wide array of use cases that could potentially change the world on a larger scale.
