BigstockHow blockchain technology can give people more control over their financial livesThe first blockchain-based cross-border remittance service in Bangladesh was announced recently. This blockchain-based service is in its final stages of commercial testing and will soon be available to customers. Dark webBecause of a secured means of ledger maintenance, assurance of anonymity, as well as negligible possibilities of information tampering, blockchain technology has been used for years in the “dark web,” the World Wide Web content that use the internet but require specific software, configurations, and/or authorization to access, arguably for illegal activities. A blockchain-based remittance service in Bangladesh will facilitate financial inclusion as remittance inflow is the lifeline for many rural families. People in emerging and remittance-dependent economies are now turning towards remittances services that use blockchain technology and cryptocurrencies.

Source: Dhaka Tribune September 26, 2020 13:41 UTC