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On September 7 this year, El Salvador introduced the Chivo bitcoin wallet for its citizens to provide commission-free payment service for remittances. In 2020, El Salvador got about $6 billion in remittances. The money transfer commission can reach up to 33%. So, if all Salvadorians turn to Chivo, it may cost Western Union and other…
In the year 2021, we value simple pleasures, like eating out or visiting a football match, much more devotedly than we used to. Our behaviors have changed greatly. Within a period of just a year, we have witnessed a great shift in the payment habits of the whole world. Such innovations in the payment ecosystem should…
Modern technologies continue to gradually penetrate into our lives and make them better. One of these promising solutions is blockchain, which was associated with Bitcoin and cryptocurrency until recently. However, PwC identified five key application areas of this technology that include tracking cash flows, identity management, payments and financial services, contracts and dispute resolution, as…
When bitcoin passed $50 thousand in February 2021, it considerably rocked the cryptocurrency industry and a vast number of newcomers flushed the market. There are 106 million crypto traders around the world, according to the calculations provided by Crypto.com. They come to the platform to trade their cryptocurrencies and make money. The exchange, in turn,…