Mexican wall and cryptocurrency payments

Mexican wall and cryptocurrency payments

While conservative policies are creating barriers to cryptocurrency, citing national security, the digital currency successfully perform its task of overcoming national borders.

If you imagine that money talk, the cryptocurrency allows you to talk to each other instantly with lower costs and fewer middlemen. Victory will be those who will facilitate cross-border payments in the future.

President trump has repeatedly stated that the construction of the wall on the border with Mexico, and he intends to fulfill that promise.

For this reason Western Union is seriously considering the possibility of using cryptocurrency as part of their business model. Today, Mexican immigrants and migrant workers send money to Mexico or anywhere else. According to BusinessWire and the world Bank, Mexico is the fourth largest recipient of international remittances in the world.

For transactions of Western Union, the Commission is charged to both parties. For example, the payees may pay up to 10% when receiving cash.

According to the mechanism of most cryptocurrencies, the recipient generally does not pay Commission, because it adds the transaction data in the blockchain, and the sender. In addition, the transaction fee is usually not associated with a transaction amount and the actual amount of data needed for its processing bloccano.

So does Bitcoin work. The establishment of Mexico’s own bitcoin exchanges to convert crypto currencies into pesos, the installation of bitcoin ATMs and an active OTC trade means that Bitcoin is going to become a cash alternative.

Any blockchain can simplify cross-border payments, but there is a question of liquidity, which is always a problem. In Venezuela, some projects have made significant efforts to help all who suffered from extreme inflation policy. Including Dash, Flash, and zcash for.

If immigration policy is trump to combat illegal immigration is successful, the remittance market between the U.S. and Mexico will grow, because people from both sides will provide each other with financial assistance. According to the world Bank report, published in December, last year, Mexico received remittances to the amount of $ 33 billion.

News tags
Let's Disqus