Cashaa, Ripple and Stellar will be the blockchain companies joining MoneyGram and Ria representatives who will visit The Global Money Transfer Summit (GMTS) in Dubai – the most recognised conference in the money transfer industry and the place where cross-border payment industry leaders gather to examine the areas that are having the biggest impact on remittances. Invited speakers will discuss the potential of blockchain technology, for the first time in GMTS. While Ripple and Stellar solutions are targeting large banks and could be an alternative to SWIFT, Cashaa is working on solving the problem of sending money to individuals. Cashaa was founded in 2016 by Kumar Gaurav, to demonstrate the power of blockchain technology in real-world use cases. Recall that the global remittances represent one of the major international financial resources and a major source of revenue for the world’s poorest countries. Official remittances have risen last year reaching $450 billion in developing countries and $596 billion globally including flows to high-income countries.
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