Published
5 years ago on
November 05, 2018
“I think the UAE government saying that 50% of all government transactions will be on distributed ledger technology by 2020 is a fantastic way to encourage innovation, to bring Fintechs to your market and then to then build the capability locally to iterate on those solutions that the Fintechs bring to you.”Moreover, Rao stressed the importance of Ripple’s technology for blue-collar workers:
“If you want to send this money, particularly you’re not clear about what the fees are going to be that the bank is going to charge on the other end. And therefore, what you’ll receive might be substantially less than what you sent out. And if you’re sending money for blue collar workers, this often can be a small amount of money, $200, and the fees for these kinds of small payments can be as high as 5 to 10%. So this is actually hurting the people who can afford it the least.”As mentioned by CoinSpeaker, it’s worth noting that Ripple has already signed up 200 institutions from different countries many of which are from the Middle East. this list of clients includes Al-Rajhi Bank from Saudi Arabia as well as Kuwait Finance House. What are your thoughts? Let us know what you think down below in the comments! Investment Disclaimer
