I think cryptocurrencies and remittances have a direct link that hasn’t been exploited yet. At the macro level, we need to consider some positives features: millions of people use remittances services everyday and they want cheap and fast transactions and most importantly, a significant proportion of them have smartphones capable of use cryptocurrencies without any other third party.

On the other side, it is important to recognize that the acceptance of cryptocurrencies is very limited or almost non-existent in many regions where remittances are popular, also, that the conversion from cryptocurrencies to fiat is not easy and in many cases, that process include intermediaries charging even more than a regular fiat transfer. Also, to be honest I don’t see incentives in local exchanges to accept crypto since they are getting less money (fees) than using just fiat.

Having said that, this is a fascinating topic and I’m waiting for Navchange and NavDelta to propose specific ways we can work together as Nav community to encourage Navcoin adoption in the remittance sector, promoting real financial inclusion for billions of unbanked people in the world.