“The World Bank estimates that migrants will send about $515 billion to relatives in developing countries by 2015, which is about 10 times the size of the U.S.’s budget for foreign aid. The old stand-bys like Western Union can charge around 10 percent for transactions in the market, an amount that Buttercoin co-founders Cedric Dahl and Bennett Hoffman find obscene. Buttercoin plans to open in India within the next three months and then to operate in six countries in nine months’ time. When they enter a market, they pair with local money transfer businesses to have legal compliance in the country.”
http://techcrunch.com/2013/08/20/buttercoin/
Related posts:
Average Wealth of Members of Congress: House $6.5 Million, Senate $13.9 Million
Coca-Capitulation
McCain: We’ll make border with Mexico look like ‘the Berlin Wall’
Steven Levy: How the NSA Almost Killed the Internet
TeenSafe phone monitoring app leaks teens’ iCloud logins in plaintext
9 Bitcoin Millionaires: from geeks to rich gurus
TechCrunch Founder: The Department Of Homeland Security Stole My Boat Today
Japanese police ask ISPs to block Tor
Botnet formed of 25,000 malware-riddled surveillance cameras
The biggest factor in the platinum and palladium markets
Fresno Police Say “We Are Not An Occupying Force.” Residents Feel Otherwise.
New iOS flaw makes devices susceptible to covert keylogging
How the US Air Force Wasted $1 Billion on a Failed Software Plan
Bitcoin Payment Service Helps Greek Businesses Avoid Capital Controls
Redditors Raise More Than 32 Bitcoins (over $4,000) for Homeless Shelter