At the customer service counter in my local grocery store, I’m sometimes in line behind someone doing a money transfer, often to Central America. Show your ID. Specify the name of who you’re sending it to. That’ll be $9.95 per transaction. Fork over the Jacksons.
After one such transaction, I asked the cashier why people transferred money that way when crypto was so much easier. Got a blank stare and a ”What?”
I sometimes feel like I’m standing among dinosaurs.
We get a skewed view of things since we are immersed in crypto, especially here on Hive. We see it discussed in detail daily.
The reality is most of the world is not aware this even exists. So the blank stare is not surprising.
Amazing how much the vultures charge for money transfers especially to second and third world nations. Plus, on the other end, there is a coin toss chance the money is outright stolen by the bank.
A lot wrong with the money transfer system, something Hive solves instantly. Of course, the challenge is the conversion to fiat.
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