What you need to know: In the future, central banks will have to use the blockchain-type system, which removes inefficiencies, and provides oversight and control. Private Banks can be participants in the blockchain. Physical remittance centers will also accept Bitcoin for localized payments. Doing so will reduce capital requirements. Lastly, pegged cryptocurrencies like Nubits can be a token of value that adjusts to market conditions automatically.

Why it is important: Digital currency is valuable to the remittance industry. It offers a solution for trading exotic currencies. It reduces barriers to entry, offers superior prices to consumers, and simplifies back-office work.

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