From Bitcoin Film:
Each year around $500 million is send back to Uganda from around the world as remittances.
Our newest film takes place in Kampala Uganda where Ronald has adopted Bitcoin as a means to receive support for his studies from his sister who lives and works in the USA. By using Bitcoin instead of conventional channels such as Western Union and Moneygram, Ronald and his sister not only avoid high transaction fees, but they can also transfer the money faster.
In Uganda and in many other places people do not have bank accounts or IDs which makes it difficult to use the conventional channels to send and receive money. Bitcoin solves this problem as no registration, bank account or ID is required. Since the transaction fees with Bitcoin are tiny and because of the speed of transactions, Bitcoin has a huge potential as a vehicle for disrupting the global remittance markets and create better lives.
[view whole blog post
]
 |
 |
 |
 |
 |
 |
|
See More
Report Abuse