Bitcoin and blockchain are relatively new and mostly misunderstood. As we are the Practical Blockchain, we are looking at the practical use cases of these technologies and demystifying unsustained promises. One of the real world uses cases now is Remittances - sending money to your home country. Lets talk about: Current state of remittances How bitcoin changes it What is being done What are some of the ways for you to send money abroad Do you send remittances? How do you do it? Check out our sponsor: Bitvo - Canadian fiat-crypto exchange with the Same Day Guarantee, Visa Cash Card, and 24/7 support. Sign up at http://bit.ly/ThatBitvo Welcome to the ThatCrypto Meetup! Claim your 10 THAT COINS (THAT). This is how: • Get your Waves Wallet http://bit.ly/THATwallet • Join Our Telegram Group http://t.me/cryptobayto • Send an email to ThatCryptoTO@gmail.com with your wallet address and Telegram username • Learn how to earn more THAT http://bit.ly/THATbounty • Spend your THAT at That Channel and ThatCrypto Meetup Watch previous meetups on Youtube http://bit.ly/watchthatcrypto Join Our Facebook Group https://www.facebook.com/ThatCryptoTO/ Join Our Meetup Dedicated to WAVES Blockchain http://meetup.com/WavesTO

1. Bitcoin
Remittances
sponsored by

2. Remittances
Worldwide
● 244 million immigrants
● $689B in 2018 (10% increase from 2017)
● $60B fees

3. Senders and Receivers
Top Receivers:
India, China, Phillipines, Mexico, Egypt
Top Senders:
US, Russia, Saudi Arabia, Switzerland

4. History
● 2004 - G8 discusses the problem of high fees
● 2008 - World Bank established the first
international database of remittance prices
● 2009 - G8 objective of reducing fees by 5% in
5 years
● 2011 - Bill Gates at G20 suggest if the fees are
reduced from 10% to 5% it would unlock $15B
for developing countries

6. Traditional Companies
● MoneyGram
● Western Union (500,000 agents world wide)
● Xoom by PayPal ($100 per client acquisition)
● Venmo by PayPal
Problems
● High fees 8-9%
● Slow Transfer (Sometimes weeks)
● Prone to Fraud (Venmo lost $40M in Q1 2018)

7. Online Transfers
● Rely on smartphone penetration,
the problem is the lack of internet in remote areas
(Starlink by Elon Mask?)
● TransferWise (1-2% depending on funding method)
● Revolut (Crypto Banking)

8. E-Wallets
● AliPay
● WechatPay
● Venmo
● PayPal
● Coins.ph (Partnered with WU)

9. Blockchain Remittances Problems
● Cash-in and Cash-out (ATMs with Stable
coins)
● Volatility (Stable coins, Abra?)
● Transaction fees on chain and
throughput (Second layer solutions)
● Conversion to national currencies
(National Stable Coins)

10. Tips
● Backup your seed phrase
● Never Keep Coins on Exchanges
● Denis Serebryakov
meetup.com/ThatCrypto