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marketinsight1234 · 1 day

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Mobile Remittance Service Market: Forthcoming Trends and Share Analysis by 2030

Global Mobile Remittance Service Market size is expected to grow from USD 22211.01 Million in 2023 to USD 85191.62 Million by 2032, at a CAGR of 16.11% during the forecast period (2024–2032)

You can use a mobile phone to send and receive money electronically with a mobile remittance service. It's an easy and accessible alternative to going in person to a bank or money transfer agency to transfer money. Bill payments and peer-to-peer transactions are made easier with the usage of mobile remittance services, which are available both domestically and internationally. They provide consumers with freedom in managing their finances by meeting the increasing demand for cross-border remittances and facilitating transactions between conventional bank accounts and mobile wallets. The market for conventional bank accounts is also present.

Financial inclusion, cost effectiveness, speed, and convenience are all provided by mobile remittance services. They enable customers to start transactions whenever and wherever they choose by doing away with the necessity for actual trips to banks or remittance centers. They are perfect for urgent financial situations because they offer transfers that happen almost instantly. Financial inclusion for individuals without simple access to traditional banking is further enhanced by the fact that digital transactions frequently have lower fees than traditional methods.

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Updated Version 2024 is available our Sample Report May Includes the:

Scope For 2024

Brief Introduction to the research report.

Table of Contents (Scope covered as a part of the study)

Top players in the market

Research framework (structure of the report)

Research methodology adopted by Worldwide Market Reports

Leading players involved in the Mobile Remittance Service Market include:

Mobetize Corp. (U.S.)

MoneyGram (U.S.)

Remitly (U.S.)

Regalii (U.S.)

Flywire (U.S.)

PayPal. (U.S.)

Ria Financial Services (U.S)

Western Union Holdings, Inc. (U.S)

Currency Cloud (UK)

Azimo (UK)

WorldRemit (UK)

TransferWise (UK)

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

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Segmentation of Mobile Remittance Service Market:

By Type

Banks

Money Transfer Operators

By Application

Migrant Labor Workforce

Low-income Households

Small Businesses

An in-depth study of the Mobile Remittance Service industry for the years 2024–2032 is provided in the latest research. North America, Europe, Asia-Pacific, South America, the Middle East, and Africa are only some of the regions included in the report's segmented and regional analyses. The research also includes key insights including market trends and potential opportunities based on these major insights. All these quantitative data, such as market size and revenue forecasts, and qualitative data, such as customers' values, needs, and buying inclinations, are integral parts of any thorough market analysis.

Market Segment by Regions: -

North America (US, Canada, Mexico)

Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)

Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

South America (Brazil, Argentina, Rest of SA)

Key Benefits of Mobile Remittance Service Market Research:

Research Report covers the Industry drivers, restraints, opportunities and challenges

Competitive landscape & strategies of leading key players

Potential & niche segments and regional analysis exhibiting promising growth covered in the study

Recent industry trends and market developments

Research provides historical, current, and projected market size & share, in terms of value

Market intelligence to enable effective decision making

Growth opportunities and trend analysis

Covid-19 Impact analysis and analysis to Mobile Remittance Service market

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#Mobile Remittance Service #Mobile Remittance Service Market #Mobile Remittance Service Market Size #Mobile Remittance Service Market Share #Mobile Remittance Service Market Growth #Mobile Remittance Service Market Trend #Mobile Remittance Service Market segment #Mobile Remittance Service Market Opportunity #Mobile Remittance Service Market Analysis 2023

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alliedcreation · 11 months

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Domestic Tourism Market Size is Projected to Expand at a Noteworthy CAGR of 13.4 %

The global domestic tourism market is expanding as a result of a rise in demand for unusual and exotic vacation experiences, a rise in social media influence and its effects on the travel industry, and a rise in the popularity of online bookings. Additionally, the market is growing as a result of the convergence of big data analytics, artificial intelligence, and mobile applications. The global domestic tourism industry is anticipated to reach $6,736.1 by 2030, according to Allied Market Research. From 2021 to 2030, the market is projected to expand at a noteworthy CAGR of 13.4 percent. The research provides a thorough analysis of the segments of the domestic tourism market, including location, tour type, booking methods, age group, and area.

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Key Take Away

The local or regional travel segment would witness the faster growth, registering a CAGR of 16.4% during the forecast. OTA segment would dominate the market, accounting for 56% of the market. On the basis of mode of booking, the direct booking segment acquired $930.9 billion, exhibiting 43.28% of the global market share. Conference/Meetings segment would witness the fastest growth, registering a CAGR of 16.2% during the forecast period. The 50 years and above age group segment would witness the fastest growth, registering a CAGR of 15.2% during the forecast. Asia-Pacific is the largest market growing at a CAGR of 12.7% from 2021-2030.

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As tourists seek more tourist destinations, small & medium enterprises (SMEs) will play a more important role in ensuring the long-term sustainability and sustainability of the tourism industry. Governments and institutions need to support SMEs in these difficult times and help them achieve this transition. The pandemic may include tax breaks and remittances, which are essential for SMEs to maintain their business and help their online businesses and national platforms to digitally transform, which may become a new source of external income. Emerging companies have experienced a boom in the region to meet the needs of those willing to travel. For example, in Thailand, cafes started serving dinner on old planes for people who never flew.

The domestic tourism market is segmented into location, mode of booking, tour type, age group, and region. On the basis of location, the market is categorized into local or regional travel and interstate travel. By mode of booking, it is segregated into OTA and direct booking. Depending on tour type, it is fragmented into conferences/meetings, weekend getaways, adventures tours, organized tours, holidays trip, and others. As per age group, it is segregated into below 30 years, 30–41 years, 42–49 years, and 50 years & above. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Spain, Italy, Russia, Sweden, Switzerland, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, New Zealand, South Korea, Thailand, Malaysia, Philippines, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, United Arab Emirates, Turkey, and rest of LAMEA).

On the basis of location, the local or regional travel segment was valued at $295.3 billion in 2020, and is projected to reach $1,983.0 billion by 2030, growing at a CAGR of 16.4% from 2021 to 2030. The trends of local immersion and authentic experiences are encouraging visitors to explore new destinations in their local or regional area. People are slowing their travel experiences, preferring to focus on a single region where they can leisurely mingle with locals and discover a true insider’s experience in their home region. Thus, raising interest of the people to explore and get aware of popular destination places in their local and regional area is likely to garner the growth of the domestic tourism market through local or regional travel segment.

According to tour type, the adventures tours segment was valued at $292.1 billion in 2020, and is expected to grow at $1,879.5 billion by 2030, registering a CAGR of 15.9%. Activities involved in the adventure tours such as land-based activity, water-based activity, and air-based activity are gaining considerable popularity among the millennial population, owing to its physical and mental health benefits. The adoption of mobiles, computers, and other networking devices is rising notably, which helps people to get aware of exotic and interesting adventure places.

According to the domestic tourism market analysis, on the basis of age group, the adventures tours segment was valued at $292.1 billion in 2020, and is expected to grow to $1,879.5 billion by 2030, exhibiting a CAGR of 15.9%. The 42–49-year age group is financially & physically mature and contributes significantly in the domestic tourism. These individuals have their social groups to travel together, and some of them prefer solo travelling to explore different adventures. Thus, the 42–49 years age group is promoting the growth of domestic tourism market, and anticipated to continue this trend throughout the domestic tourism market forecast period.

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ken-research-market-research · 2 years

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Malaysia Remittance Market Future Growth Rate: Ken Research

Buy Now Remittances are well-defined as the monetary lifelines transferred by migrant workers back home. Whereas, the international remittance are all such cross-border money transfers executed over the internet by such a migrant population. Remittances, in common, comprise fund transfers amongst the residents and non-residents and earnings sent from the short-time workers from other regions to…

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southeastasianists · 3 years

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“My sister and I have to send all the money back home. We could not make any savings in Thailand. It is getting harder in Myanmar and my mom relies on us for household income. Everything becomes more expensive and market is not function as usual. If Tatmadaw [Myanmar military] remains in the power, we are going to suffer.” –Interview with a female Myanmar migrant in Thailand after the Myanmar coup d’état on February 1, 2021.

Myanmar’s democratic backsliding threatens 4.25 million Myanmar migrants—the majority of them in neighbouring Thailand—with an unforeseeable future. As their travel documents expire, they risk becoming undocumented overseas and excluded from legal protections by shortcomings in both Myanmar and Thai migration policies.

Migrant vulnerabilities back home

Myanmar workers in Thailand have been neglected by the previous junta government over the past three decades. This changed with Aung San Su Kyi’s first visit to migrant communities in Thailand in 2012, where she promised to never abandon Burmese abroad. Myanmar workers had hoped that the civilian government would recognize their existence and improve their livelihoods in Thailand and Myanmar.

During the Myanmar Election observation in 2015, I encountered migrant workers who returned to their hometown to vote. Political remittances played a significant role in driving the views of Myanmar migrants. A worker and voter in Karen State shared that “I have to spend my savings for my journey back to my village so I can cast my vote for NLD [National League for Democracy] party. I believe that the military regime caused me to leave home in first place. Being migrant overseas is not easy life. My home in Myanmar is built on remittance money. We have seen Thailand became more developed while Myanmar is still trapped in the time capsule. Myanmar had not changed in the past 30 years. I have strong drives to take action for change.”

Prior the 2021 Coup, Myanmar migrants and their families in Thailand were confident that the elected Myanmar government would be able to boost the domestic economy. This presented them with the opportunity to escape hardship and discrimination in Thailand and set up business ventures upon their return. However, all their dreams were disrupted unexpectedly when the military junta seized power. A UN report indicates that the Myanmar economy would revert to the same dire situation as 2005.

Myanmar migrants in Thailand were immediately affected by coup. Their reliance on online social media to get updates on the political situation was disrupted by cuts to the internet and communications. Migrants in Thailand are filled with anxiety and concerns over violence and safety of their family members. As of May 25, more than 800 people were killed by the Myanmar military crackdown, 4,301 political prisoners arrested, and ethnic minorities attacked by airstrikes in ethnic controlled areas.

Furthermore, the military government is unlikely to turn to policymaking in migration management any time soon. With its weak domestic legitimacy, the junta will prioritise consolidating its own power first. This will not come easily with resistance from Myanmar citizens and National Unity Government (NUG). The same can be said about the NUG, which will mostly be pre-occupied with delegitimizing the junta and obtaining international recognition. Further, the NUG is not in the position to facilitate any international migration or negotiate with any migration-receiving countries such as Thailand.

There are estimated 500,000 Myanmar workers whose passport documents will expire by July 2021. Migrants have to renew their documents with the Myanmar embassy but have been unable to reach embassy officials. In March 2021, the Myanmar and Thai governments agreed to open three centers to issue identity documents so workers can legally stay in Thailand. But this plan has been delayed without any public acknowledgment. Many Myanmar workers are also interpreting this action as a lack of accountability and responsibility on the part of the Myanmar government in protecting its own citizens.

Migrant vulnerabilities overseas

Thailand employs as many as 3 million Myanmar migrant workers in fishery, construction, agriculture domestic work, services, hospitality and other low paid jobs. In addition, there are 91,818 refugees from Myanmar living in nine camps along the Thai-Myanmar border. There are no official statistics to verify the actual number of undocumented migrants in Thailand.

In the aftermath of the Myanmar coup, Myanmar migrant workers in Thailand faced challenges sending remittances. UN Migration estimated US$2.8 billion were sent to Myanmar annually from overseas Myanmar in Thailand, Malaysia, China and other countries through formal channels, and additional US$10 billion sent through informal channels. Both banks and formal channels have either shut down or reduced their operation hours. Alternatively, migrants have resorted to informal channels. Yet, my interview with workers also reveal that informal remittance brokers are under surveillance by the army and are worried money may be taken away or never make it to their families, who need remittances to cover daily expenses, including caring for the children of migrants, who have been left behind at home.

Moreover, with COVID-19 closing all the legal migration channels since last year, migrants increasingly rely on smugglers for border crossing. Thailand’s Immigrant Act classifies irregular migrants, refugees and asylum seekers as “illegal immigrants,” and thus subject to immigration offences. In 2020, at least 60,000 Myanmar workers applied to legally enter Thailand. However, the International Organisation for Migration which conducts mobility monitoring states that 1000 Myanmar nationals attempted to enter Thailand without authorisation. Each migrant reportedly pays brokers up to 14,000-16,000 baht (US$ 450-550) to be transported into Thailand for one trip. The migration journey thus puts migrants at risk of being exploited by smugglers and traffickers at any time.

Thai authorities also intensified border enforcement in attempting to crack down on migrant smuggling in the name of COVID-19 containment. The Thai government claimed that since January 2021, officials arrested 15,378 smuggled migrants in total and of which were 6,072 Myanmar nationals. Migrant can also be subject to extortion by corrupt officials. Upon arrest, there is no screening mechanism to profile smuggled migrants but migrants can be held for prolonged detention prior to deportation. Furthermore, in fear of being deported due to expired documents, migrants have started bribing local authorities so they can receive unlawful permits to stay in Thailand. The wife of migrant construction worker and a mother of 4 children told me during an interview on 5 April 2021 that they had to pay a village chief US$10 a month.

Migration through irregular channels is anticipated to increase, driven by the Myanmar military’s violent suppression of political protesters and opposition and military warfare in the area controlled by ethnic armed groups. The Thai military government has also pushed back asylum seekers from Myanmar, thus violating the international principle of non-refoulement in which no one shall be returned to a place of harm.

One way the Thai government addresses migrants’ lack of legal status is through a registration program. It was first implemented along the border in 1992 and extended nationwide in 2001. By registering with authorities, migrants are granted a temporary stay and right to employment in Thailand. However, the pandemic has disrupted the regularisation of migration status and increased number of undocumented workers. There were estimated 600,000 migrant workers who lost their legal status between October 2019 and October 2020.

Migrant workers became undocumented due to many reasons, such as being dismissed from their job, failing to submit documents required for registration and having insufficient funds to pay for the documentation renewal and administrative fees. Many also could not find new employers within fifteen days as stipulated by work permit conditions, hence their work permit was automatically cancelled. While trying to stay in Thailand, undocumented migrants are also stigmatised by local perceptions that they crossed the border illegally, and in doing so, caused new COVID-19 outbreaks.

As a result of these negative perceptions, Thailand’s current policy is largely focused on arresting undocumented workers. The continued suppression of undocumented migrants causes fear and drive them into an even more marginalised and vulnerable position.

Migrant protection during political and heath crises

Both Thailand and Myanmar governments have a political will to promote the rights of migrants and invested significantly in domestic legal reforms. But the lack of coherent migration policies to facilitate migrants’ journeys and employment during the political and pandemic crises risks reversing progress in migrant protection.

Three months after seizing power, Myanmar’s military government is facing challenges in gaining trust from its people. State functions and capacity that would otherwise attend to the plight of migrants have collapsed due to nationwide strike in the public sector. Thus, Myanmar’s return to democracy is crucial and may offer hope for migrants again.

For the Thai government, it is crucial to recognize that migrant workers make a significant contribution to the Thai economy, approximately $1.8 billion or 1.25 percent of national GDP. The government should therefore shift its migration management approach from criminalizing undocumented migrants to ensuring a comprehensive migration policy developed inclusively with relevant stakeholders. A change in official mindset would be beneficial as it will address both the incompetency of origin countries and economic recovery post-pandemic.

#Southeast Asia #Burma #Myanmar #Migration

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zedecksiew · 5 years

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Lenek Lauk, East Lombok

In June 2019, Sharon spent three days in East Lombok, learning the weaving art.

The village she visited, Lenek Lauk, is crowded houses, a mosque in use but half-finished, waves of paddy. When they aren’t out in the fields, the women of the village dye and weave.

In recent years, with NGO assistance, they have run a cooperative to support their work -- to share skills and labour; to buy thread in bulk; to find markets for the things they make.

Locals prefer fabric coloured with synthetic dyes, because it is more affordable.

“But foreigners like the ones made from natural dyes,” one of the Lenek Lauk women tells Sharon, savvily. “So we make those.”

For dye, the weavers of Lenek Lauk collect mahogany, jackfruit wood, banten bark, mango leaves, ketapang leaves, indigo.

Boiled and fixed, these dyes stain the thread in earthy hues: reds and browns and blues -- often dramatically different from the materials they come from.

The thread is wound into balls.

The warp is prepped using a tool shaped like an upended table; the fabric’s eventual pattern is programmed here, on its upturned legs.

The warp is rolled up for the loom -- an operation that takes at least four bodies; raw, steady strength; and sharp eyes, to make sure things are even, exact, that nothing is broken.

Only one person may operate the loom. But the art of weaving is not possible, alone.

Sharon had me tagging along, so I got to witness these processes.

I sat and spun the andir, the tool used to wind balls of thread. This was the easiest task available. In a weaver’s hands, the andir is a whirligig. In mine, it start-stopped and quickly got stuck.

The weavers giggled in Sasak and scolded me and helped me untangle my skein. I sat for two hours: spinning, spinning, spinning.

It never left me, the feeling that this was an incredible privilege. To sit, welcome in the women’s house.

Most places, weaving is considered a women's art.

Watching how the weavers of Lenek Lauk assemble their warps, seeing how procedural and algorithmic it is; how deft and practiced they are --

Yeah. No wonder weaving gave us the loom and punch-card, the foundations of modern computing.

These women, with their hand looms and their meticulously-programmed warps? Their art played an integral part in building our modern, rational world.

Why did women wind up with a reputation as the "less logical sex”? How were they shackled to that vicious lie? There has been a theft of attribution. Men squat on the credit women deserve.

Soon after returning from Lombok, I posted on social media, saying versions of the stuff I've said above.

Those were immediate sentiments. Obvious and easy ones.

A feeling that wasn’t so easy to parse -- one that is still difficult to express clearly, now -- was my feeling of shame.

When Sharon and I were in Lombok, locals told us about the island’s close relationship to Malaysia.

It isn’t a neutral relationship. Year after year, men from Lombok island cross the sea to the Peninsula. Sometimes they have papers; sometimes not. They cross the sea, to work.

“Men from Java work in construction, but men from Lombok work farms and plantations,” Haji R told us. He was our driver, the days we were there. “I was in Johor, in the 1990s. I worked in a chicken factory.”

Haji R did not have papers. He told us stories of being pulled over by police; of the need to pool money with his friends, to bribe officers; of how he squeezed savings from his meagre salary.

Later, we were told that all but two of the three-dozen-odd women in the Lenek Lauk weaving cooperative had husbands working in Malaysia.

Some had not seen their husbands in years. Sometimes remittances would arrive; sometimes not. The weaving cooperative helped them be more financially independent.

Ibu K, maybe the oldest and most knowledgeable weaver there, told us about Lenek Lauk’s signature motif, Sari Menanti -- “Sari waiting”:

“Sari waits for her husband, who has been away from home a long time,” Ibu K said. “She waits, and thinks, and weaves.”

“Who is Sari?” Sharon asked.

“A woman who lived long ago,” Ibu K replied.

Once colonies serving separate Western powers, the nation-states of Southeast Asia now leech off each other’s hinterlands -- a circle-jerk of exploitation.

Working-class Filipino women clean middle-class Malaysian homes. Malaysian soil literally underlies Singapore’s land-reclamation expansions. Indonesian sweat cements our cities, waters our cash-crops.

These are not equal exchanges. The metropoles take as much as they can, for as little as they can get away with. Last century’s colonialism is this year’s global economy.

Sharon came to Lombok on a commission from a Singaporean gallery, as part of the corporate-social-responsibility programme of a Malaysian bank.

It felt uncomfortable to be welcomed into Lenek Lauk. Here we were, people from a place that had already taken their men and sons, asking to take still more.

One of the weavers, a short woman with a cheeky smile, kept asking me: “Sweets, where are my sweets?” Hand open, expectant.

“Sweets?”

“You come to visit me. But no gifts? You should give me sweets!” She was just teasing. Good-natured. But knowing.

I have to sit with my discomfort. I hope it doesn’t paralyze me.

I know and speak the right vocabularies. I could hand-wring at length about privilege, about my complicity in capitalist systems. I’d likely be lauded for my self-awareness.

I hope I do not abstract the women I met into object lessons. Reduce them into Twitter-thread-worthy Rules For Standing In Solidarity With The Working Class.

What does true solidarity look like? I still don’t know.

The work Sharon created, in collaboration with the Lenek Lauk weaving cooperative, currently hangs in a Singapore National Museum atrium.

Strips of woven cloth, each 2.5cm wide -- a multitude of them, made by forty pairs of hands. “I asked 40 weavers if they could ... weave negative space on the loom. What is not apparent is as important as what is obvious,” Sharon writes.

The work is called: “Yang Tersurat dan Tersirat (Kolaborasi dengan Ibu-ibu Desa Lenek Lauk)” -- the seen and unseen; the said and unsaid.

( Photographs by Sharon Chin. )

#lenek lauk #weaving #art #sharon chin #research #capitalism #colonialism #thinking #indonesia #lombok

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phdeditorial · 3 years

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Foreign Banks operating in India are banks of other countries having their branches in India. At present there are about sixteen such banks having a total of about 180 branches in most of the big cities of the country. These Foreign Banks have a flourishing business and earn large profits. Indian Banks also have their branches in other countries, and they, too, are doing well. Some economists are of the view that Foreign Banks should, not be allowed to operate in the country.But permission to such banks to operate in the country is unavoidable on the basis of reciprocity. This is certainly the view of the Reserve Bank of India, and it is justified by the success of Indian Banks operating in foreign countries. Indian Banks have been rapidly expanding their overseas operations. Between 1975 and 1978, the number of offices of Indian Banks in foreign countries had increased by 48, from 77 to 125. This is in contrast with the stagnant number of Foreign Bank Offices in

#homeworkhelp

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sandlerresearch · 3 years

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Cryptocurrency Market with impact of COVID-19 by Offering (Hardware, and Software), Process (Mining and Transaction), Type, Application (Trading, Remittance, Payment: Peer-to-Peer Payment, Ecommerce, and Retail), and Geography - Global Forecast to 2026 published on

https://www.sandlerresearch.org/cryptocurrency-market-with-impact-of-covid-19-by-offering-hardware-and-software-process-mining-and-transaction-type-application-trading-remittance-payment-peer-to-peer-payment-ecommerce.html

“Cryptocurrency market to grow at CAGR of 7.1% during 2021–2026”

The cryptocurrency market size is expected to grow from USD 1.6 billion in 2021 to USD 2.2 billion by 2026, at a CAGR of 7.1%. Transparency or distributed ledger technology and growth in venture capital investments are the key factors driving the growth of the cryptocurrency market.

“Hardware to hold largest size of Cryptocurrency market in 2021”

The concept of cryptocurrency is based on decentralizing the monitoring of transactions. In the transaction monitoring process, miners (generally the users) validate the transactions made by other users. In this process, the system needs high computing power to validate the transactions. The validation process involves the creation of hash codes to encrypt the transactions. To generate a hash code, the miner needs highly effective and efficient hardware. In other words, to get new blocks and solve them, miners need to generate as many hash codes as possible. Miners get rewards through mining. Mining rigs are available in several shapes and sizes. The cryptocurrency market for hardware has been segmented, on the basis of processor, into GPUs, central processing units (CPUs), FPGAs, and ASICs.

“Mining process to hold largest share of Cryptocurrency market in 2021”

Mining is an integral process for the generation, transmission, and validation of transactions in cryptocurrencies. It ensures stable, secure, and safe propagation of the currency from a payer to a receiver. Unlike fiat currency, where a centralized authority controls and regulates the transactions, cryptocurrencies are decentralized and work on a peer-to-peer system.

“APAC to grow at highest CAGR during the forecast period”

In terms of value, APAC to grow at highest CAGR during the forecast period. This market in APAC has been studied for China, Japan, South Korea, and Rest of APAC (RoAPAC). RoAPAC includes Singapore, Malaysia, Thailand, India, Australia, and New Zealand. China is the largest market among all APAC countries. Owing to the low cost of electricity, and presence of big mining companies.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the Cryptocurrency market space. The break-up of primary participants for the report has been shown below:

By Company Type: Tier 1= 40%, Tier 2 = 20%, and Tier 3 =40%

By Designation: C-level Executives =40%, Directors =40%, Others = 20%

By Region: North America = 40%, Europe = 40%, APAC = 10%, and RoW = 10%

Bitmain (China), NVIDIA (US), Xilinx (US), Intel (US), Advanced Micro Devices (US), Ripple Labs (US), Ethereum Foundation (Switzerland), Bitfury Group (Netherlands), Coinbase (US), BitGo (US), Binance Holdings (China) Canaan Creative (China). Bitstamp (Luxemburg), Ifinex (Hong Kong), Ledger SAS (France), Xapo (Hong Kong), and Alcheminer (US), are a few major companies dominating the Cryptocurrency market.

Research Coverage:

This research report categorizes the global Cryptocurrency market based on application, products & components, technology and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the Cryptocurrency industry and forecasts the same till 2026.

Key Benefits of Buying the Report

The report would help leaders/new entrants in this market in the following ways:

This report segments the Cryptocurrency market comprehensively and provides the closest market size projection for all sub segments across different regions.

The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.

This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product development and launch, partnership, and merger.

#Semiconductor &amp; Electronics

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jesicas · 3 years

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What is Future Cryptocurrency and its Benefits

What is Future Cryptocurrency: Cryptocurrency is the most recently added twig in the arm of the financial market, which is proving a shot in the arm for its traders. They are corrugating their capital from elsewhere to invest in it following the rearing benefits that seem to from it. In 2019, the total cryptocurrency market value was pegged at USD 1.03 billion. As per the projections, it may grow up to USD 1.40 billion by 2024.

However, the cumulative market cap of the cryptocurrency as of 5 August 2020 was $337.28 billion. There are overall 6088 digital currencies available in the online market for trading. (Data from CoinMarketCap. In 2016 the market cap value was lower than USD 18 billion and rose to 128.78 billion by 2018.

As of 19 August 2018, there were mere 1600 cryptocurrencies available on the internet. The price of bitcoin peaked at nearly USD 20000 in the year 2017.

Glancing at the growth prospects, the future of cryptocurrency seems bright and shiny.

Future Cryptocurrency Definition

It is a computer-generated digital currency which utilises the algorithm of encryption for securing the procedure involving creating of different coins and performing transactions. It is mandated as an ecosystem thriving to gulp down the current financial territory and policies. The advanced techniques of encryption are referred to as cryptography.

These coins or digital money doesn’t have any physical presence or property of collateral for evaluating their values.

Read More: How to Make Money Investing in the Cryptocurrency Market

Some Characteristics of Cryptocurrencies

There is a universal discourse on whether cryptocurrencies should have a regulatory authority looking over their transactions. But even after more than eleven years of the launch of the first cryptocurrency bitcoin, no government in the regulates it.

As there it is available only in virtual form, there’s no over the counter platform for investors to buy and sell them. All the other cryptocurrencies that formed after bitcoin are also known as altcoins or alternative coins.

Experts consider it as a disruptive concept and force against the prevalent notion of fiat currency.

Bitcoin has the advantage of being the first of its kind. Hence, it captures the significant share and belief of investors compared to others.

Cryptocurrencies offer compliance free remittance and ease of transactions seeing through the boundaries of nations.

The ability to break the cross-border barrier of transaction makes the currency popular among classes.

Advantages Enveloping Cryptocurrencies That Can Trigger its Future Prospects

It gives enhanced and compact advanced security for transactions.

All trades done have logs. Thus, they are transparent but at the same time far from anyone misusing the digital currency of another trader.

It comes with a decentralised system, which enables users to access it from different parts of the globe.

The international transfer is quicker than an eyeblink.

Low fees and prevention from scamsters and fraudsters are qualities that are dictating in an investors mind, and they are adopting the technology.

Protection from consumer chargebacks is one of the reasons that is triggering interests in industries and traders per se.

Europe May Emerge as the Power Hub of Cryptocurrencies

Currently, Europe holds the second spot in terms of cryptocurrency-related transactions and exchanges. The main markets comprise the UK, Germany, East Europe, and France. Besides, the rest of Europe contributes to its growth too.

APAC Tops The Chart

APAC, aka the Asia Pacific region, is on the top of the list where volumes of investors and transactions are mammoth and magnifying. It primarily includes Japan and South Korea and the RoAPAC, which has Australia, New Zealand, Malaysia, India, Thailand, China, and Singapore. Japan sits on the hilt when it comes to awareness and technology surrounding cryptocurrency. The government is apparently favouring the cryptocurrencies.

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wiseguyreports33 · 4 years

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Global FinTech Blockchain Market 2020 Industry Analysis, Opportunities & Forecast To 2026

Summary - Global FinTech Blockchain Market Research Report 2015-2027 of Major Types, Applications and Competitive Vendors in Top Regions and Countries

The Global market for FinTech Blockchain is estimated to grow at a CAGR of roughly X.X% in the next 8 years, and will reach USD X.X million in 2027, from USD X.X million in 2020.

Aimed to provide most segmented consumption and sales data of different types of FinTech Blockchain, downstream consumption fields and competitive landscape in different regions and countries around the world, this report analyzes the latest market data from the primary and secondary authoritative source.

The report also tracks the latest market dynamics, such as driving factors, restraining factors, and industry news like mergers, acquisitions, and investments. It provides market size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries.

Also Read: https://www.einpresswire.com/article/520814291/global-fintech-blockchain-market-2020-industry-analysis-opportunities-forecast-to-2026

The report can help to understand the market and strategize for business expansion accordingly. In the strategy analysis, it gives insights from marketing channel and market positioning to potential growth strategies, providing in-depth analysis for new entrants or exists competitors in the FinTech Blockchain industry.

The report focuses on the top players in terms of profiles, product analysis, sales, price, revenue, and gross margin.

Major players covered in this report:

Chain

Applied Blockchain

Factom

Bitfury

BTL Group

Alphapoint

Bitpay

Earthport

Cambridge Blockchain

Recordskeeper

Digital Asset Holdings

AWS

Blockcypher

Oracle

Microsoft

Circle

IBM

Blockchain Advisory Mauritius Foundation

Auxesis Group

Abra

Coinbase

Ripple

Symboint

Guardtime

Tradle

By Type:

Application and solution providers

Middleware providers

Infrastructure and protocols providers

By Application:

Payments

Clearing

Settlement

Exchanges and remittance

Smart contracts

Identity management

Compliance management/Know Your Customer (KYC)

Others (cyber liability and content storage management)

Geographically, the regional consumption and value analysis by types, applications, and countries are included in the report. Furthermore, it also introduces the major competitive players in these regions.

Major regions covered in the report:

North America

Europe

Asia-Pacific

Latin America

Middle East & Africa

Country-level segmentation in the report:

United States

Germany

France

Italy

Spain

Poland

Russia

China

Japan

India

Indonesia

Thailand

Philippines

Malaysia

Singapore

Vietnam

Brazil

Saudi Arabia

United Arab Emirates

Qatar

Bahrain

Years considered for this report:

Historical Years: 2015-2019

Base Year: 2019

Estimated Year: 2020

Forecast Period: 2020-2027

FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5234786-global-fintech-blockchain-market-research-report-2015-2027

About Us:

Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.

NORAH TRENT

[email protected]

Ph: +162-825-80070 (US)

Ph: +44 2035002763 (UK)

#FinTech Blockchain Market Analysis

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adalidda · 4 years

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Illustration Photo: Ho Thi Thuy, a 29-year-old migrant worker from Ha Tinh, Vietnam, works at a special farm in Cameron Highlands, north of Kuala Lumpur, Malaysia. She earns about 2000RM, or $490, per month. The remittances sent by women migrant workers improve the livelihood and health of their families and strengthen economies. In 2015, international migrants sent $432.6 billion in remittances to developing countries—nearly three times the amount of development aid (ODA), which totaled at $131.6 billion. (credits: UN Women/Staton Winter / Flickr Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic (CC BY-NC-ND 2.0))

Startups working on Innovative solutions in Global Migration systems

IOE & Seedstars are partnering to find innovative solutions to promote skills mobility with products that bridge the information gaps in global migration systems.

We are looking for the most promising FinTech, HR Tech, CiviTech, EdTech, AgriTech, Remittance, and Migration start-ups around the world with solution-oriented products to improve migration systems that respond to labour market needs.

The solutions should assist with better matching of employment sectors facing skills shortages with trained regular migrants - ex-pats, temporary workers, seasonal workers, intra-company transferees. The solutions should also provide ways for governments to share information and best practices to improve their policies. Finally, they should provide migrant workers with access to financial, educational, labor mobility services.

Application Criteria

All applications must comply with the following criteria:

The startup must be an existing solution under 4 years of existence (averagely 2 y.o.) The startup must be a pre-seed, seed, or early-stage startup with a minimum viable product (MVP). Have a maximum of USD 500,000 of funding to date.

Primary users of the product should be governments, employers and migrants.

Application Deadline: August 25, 2020

Check more https://adalidda.com/posts/LeTjgjdFfvTTd55vH/startups-working-on-innovative-solutions-in-global-migration

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isayeed-blog · 4 years

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Gendered journalism

The media are, however, equally capable of conjuring up Orwellian elephants as burying proverbial ones. A perfect example of the former is what may be called “gendered journalism”. We have already seen The Economist and others’ hypothesis of male disprivilege in the market place leading to acid attacks in Bangladesh in the ‘90s. The facts are otherwise. But before looking at them consider a recent report in The Guardian called The Upside: The rise and rise of Bangladesh - but is life getting any better? The answer appears to be a resounding yes, with copious charts showing the country’s remarkable progress since 1980. The garment factories, inevitably, form the focus of attention: inevitably, because three things stand out in the industry - concentration of workers in factories, the visibility of garment products “Made in Bangladesh” in western chains like Marks & Spencer, and, foremost, the number of women employed. In an alleged pogonocracy, that stands out.

Inaccurately, the writer observes that 80% of the 4.5 million workers are women. According to Rubana Huq, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the proportion is 65%.

Nowhere does the writer take note of the fact that 40% of the people of the country are underemployed. They work only a few hours for pitifully low wages. Yet since they are regarded as employed, the official unemployment rate is a measly 4.4%. She presents a flattering picture of GDP growth in the country: a nifty little chart shows the economy growing 15 times since 1980. Economists, however, use the term “jobless growth” to describe our “vertiginous” ascent. Between 2013 and 2017, while the economy grew by 6.6%, employment rose by a meagre 0.9%. Indeed, employment in the manufacturing sector actually declined: every garment factory owner I have talked to has been frank about using labour-replacing technology. Labour-intensive technology is a thing of the past.

The article also claims that the female-male ratio in the workplace has been rising, being somewhere between 40 and 50%. Yet the UNDP says that only 36% of women participate in the labour force, while 81% of men do (admittedly, the female participation rate is higher than in India (24%) but much lower than in Vietnam (73%) In Vietnam, 76% of the population older than 15 is employed compared to only 56% in Bangladesh.)

Indeed, the GDP growth statistics are questioned by economists. India provides a salutary warning: growth between 2011 and 2017, “the miracle years”, was touted to be 7% a year - they turned out to be 4.5%, under-performing even Indonesia (The Indian growth fable). The figure was inconsistent with growth in investment, exports and credit. Similarly, in Bangladesh, economists queried the official narrative of growth as being inconsistent with the - slow - growth in export and remittances, the twin domestic engines.

But the garment industry is not the miracle story of Bangladesh. The miracle story - if there is any, a big if - lies, not here, but in the Middle East.

According to The Economist (“Migration in the Gulf”), a migrant to the Middle East earns 250-350% more than one who stays home. Migrants account for half of the 50 million people in the Gulf Cooperation Council (GCC): in Qatar and the UAE, the proportion is more than 85%. Research shows that “by letting in so many migrants the GCC countries do more (per head) to reduce global income inequality than richer OECD countries, which send loads of aid but keep their borders relatively closed. Were the OECD countries to open their borders to the same extent as Kuwait, which has two migrants for every native, global inequality could be cut by a quarter.”

Approximately 7.5 million Bangladeshis were migrants in 2010, with 90% working in the Middle East and Malaysia. Between 1976 and 2018, a total of roughly 12 million workers migrated from Bangladesh. In 2018, a survey of migrant households in 20 districts found that 79% were current migrants and 21% returnees: this suggests migrant numbers of around 9.5 million. This figure must be compared with the number employed in the garment industry, including both men and women (4.5 million). In 1976, the number of overseas workers from the country stood at around 6,000. According to the World Bank, a 10% increase in the share of international migrants in a country’s population leads to a 2.1% decline in the share of people living on less than $1 per person per day (the poverty level in 2005).

However, most of these migrants are men: the highest proportion of female migrants was recorded in 2018 at 13.9%. At Kuwait airport, returning migrants form a long, loquacious queue of young men at the airport. Passengers on the Dubai-Dhaka flights share stories of having to travel with these loud returnees.

Since migrants are, by definition, invisible, they do not show up in western reports on Bangladesh. Being mostly men, in addition, disqualifies them for attention. Further, journeying to the pogonocratic Middle East from the local pogonocracy is not regarded as a career move by the western media. The Middle East is where mad mullahs, mediaeval sheikhs and murderous terrorists associate in well-reported disharmony.

#Bangladesh #growth #gdp #garment industry #migration #gendered journalism

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globaldominion · 4 years

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IS OUT-MIGRATION A CRITICAL DEVELOPMENT CONSTRAINT IN THE PHILIPPINES?

When we talk about critical economic developmental constraints in the Philippines we can easily point at the financial flow, infrastructure, business climate, and fiscal policies. Human Capital may not be even be at the top of the list, but it certainly is a major factor. Let’s look back and realize that economics in essence is the study of allocation of scarce resources to meet unlimited human wants and needs – and human capital output is considerably men’s biggest contribution to the resources meant to be managed for men. Investopedia defines human capital as an intangible asset or quality not listed on a company’s balance sheet, which can be classified as the economic value of a worker’s experience and skills. This includes assets like education, training, intelligence, skills, and health. One aspect of Human Capital which may be the most popular in the Philippines, is out-migration.

Oxford defines out-migration as the action of leaving one place to settle in another. While it is not difficult to understand for Filipinos and definitely not a new concept to the Philippines, it strikes both as a strength and a risk in line with the increasing globalization and the high-time for us to focus in our country and leverage on natural resources and the growing domestic industries. Now, is out-migration a Philippine critical developmental constraint?

The Philippines occupies a special place in the world of migration and diaspora. It ranks as the third largest source of international migrants. In accordance to the World Bank, it is the fourth largest remittance recipient in the world after India, China and Mexico (imagine just how huge that is, considering the size of our nation). Filipinos can be found in over 200 countries across the globe. From: CFO (Commission on Filipinos Overseas) Secretary Imelda M. Nicolas – “Heroes and Heroines from the Homeland: Migration from a Philippine Perspective”.

Figure 1. Outflows of Workers from Asian Countries, 2007-2016 (Source: ADB – LABOR MIGRATION IN ASIA Increasing the Development Impact of Migration through Finance and Technology)

Data collated and presented by ADB (Figure 1) show the strength of the outflow of labor migration in the Philippines. In 2007 the number of Filipino labor force going out of the country for work was below that of Bangladesh’s and India’s, and just a few counts higher than that of Indonesia’s. And it has been increasing since until 2013 and then took a slight dip in 2014. The Philippines has long been the largest single country of origin of labor migrants in Asia, but the stock of OFWs (Overseas Filipino Workers) declined by 8% in 2016, following the same trend observed in other countries in Asia, like India and Pakistan.

Figure 2. Overseas Filipino Workers (OFWs) Deployments (Source: ADB – Philippine Critical Development Constraint)

Statistics reported by the Philippine Overseas Employment Administration (POEA) suggest that the majority of migrant workers are employed in low technology occupations (POEA 2007). According to the 2006 data, over 80% of the 308,000 newly hired workers were employed in low paying and/or low-skill occupation groups (Figure 2). Less than 4% of new hires were employed in engineering and related occupations.

However, the investor feedback gathered by the Global Competitiveness Report (IMD 2007) also suggests that less than 4% of the investors considered that brain drain may be a problem in the Philippines.

Figure 3. Top 15 OECD Destination Countries for Asian Migration, 2015 (Source: ADB – LABOR MIGRATION IN ASIA Increasing the Development Impact of Migration through Finance and Technology)

The Philippines ranks sixth, with 181,000 new migrants to the OECD (Organization for Economic Cooperation and Development) area in 2015. This represents a 15% increase compared to the previous year. Migration from Vietnam to the OECD area rose even more sharply (+50% between 2013 and 2015) and surpassed 150,000 people for the first time in decades. Nepal had an increase and its highest level of outward migration to OECD countries (47,000 in 2015) in more than 10 years. Bangladesh (51,000) and Myanmar (27,000) also saw a historically high number of their citizens migrating to an OECD country in 2015. Figure 3 shows that the three main OECD destination countries of Asian migrants, the United States (US), the Republic of Korea, and Japan, have not changed ranking in recent years. Canada, which is fifth on the rank, has Filipinos at the top of their foreign workers’ list.

Diaspora – populations of migrant origin who are scattered among two or more destinations, between which there develop multifarious links involving ﬂows and exchanges of people and resources: between the homeland and destination countries and among destination countries (Van Hear, Pieke, and Vertovec, USAID – Philippine Innovation Ecosystem Assessment).

Figure 4. Estimates of Asian Diaspora Populations (Source: ADB – LABOR MIGRATION IN ASIA Increasing the Development Impact of Migration through Finance and Technology)

The table above (Figure 4) displays the emigrant population (15 years old and above) in OECD countries in 2010–2011, are well below the UN figures because they cover only OECD destinations and only those aged 15 and above. Our country is one of the biggest sources of emigrants alongside the PRC, and India.

Figure 5. Stock Estimate of Overseas Filipinos (end of December 2013) (Source: ADB – LABOR MIGRATION IN ASIA Increasing the Development Impact of Migration through Finance and Technology)

The Philippines has generated a large diaspora through successive huge waves of migration to other countries (Lawless 2005). The Commission on Filipinos Overseas (CFO) has estimated the total diaspora at about 10 million. An interesting feature is their breakdown by migration status. Temporary migrants constitute 41% of the total, while irregular status migrants are 11%. The US is the top destination with 3.5 million, followed by Saudi Arabia (1 million), the United Arab Emirates, Malaysia, and Canada.

While the previous labor migration data presented showcase how huge our country’s workforce out-migration is, the next items shall show how vast their positive contribution to the economy is.

Figure 6. Overseas Filipino Workers Remittances (Source: ADB – LABOR MIGRATION IN ASIA Increasing the Development Impact of Migration through Finance and Technology)

Aside from OFW remittances optimistic impact to our community through the effects of foreign exchange rates, the money saved and/or spent in our country certainly contributes to our overall production (see Figure 7 below). Remittances are usually an important source of income in developing countries like ours.

Figure 7. Overseas Filipino Workers Remittances Share In Gross Domestic Product (GDP) (Source: ADB – LABOR MIGRATION IN ASIA Increasing the Development Impact of Migration through Finance and Technology)

The Philippine labor migration’s strength and contribution only made our government continue and improve investment in OFWs and their welfare. But it doesn’t take out the need to take care of the domestic workforce and ensure that we have enough human capital for domestic production and keep migration a positive factor to the economy rather than a threat or risk. Listed hereunder are just a few of the continuing government efforts for both local and overseas Filipino workers, from the following sources: DOLE – Performance Highlights Under The Duterte Administration; NEDA – Philippine Development Plan 2017-2022; and NEDA – SocioEconomic Report 2018.

● Ensuring Strict Compliance to Labor Laws and Labor Standards, particularly the Right to Security of Tenure Executive Order No. 51 Implementing Article 106 prohibiting illegal contracting and subcontracting.

● Encouraging skills development and retooling through continuing education and training.

● Strengthening employment facilitation services.

● Strengthening and expand internship, apprenticeship, and dual training programs.

● Implementing programs that encourage women to participate in the labor market.

● Implementing capacity-building programs should also be conducted for non-agriculture workers who are interested to venture into farming, particularly returning OFWs and senior high school students.

● Gearing up for the Fourth Industrial Revolution (Industry 4.0) by building the country’s science, technology, and innovation ecosystem.

● Implementing the Population and Development program. Besides averting unintended pregnancies, intensify interventions during the first 1000 days of the child to build the capacity to develop the necessary cognitive skills.

● Increasing investments to improve the quality of human capital to meet the human resource requirements under Industry 4.0.

● Improving access of OFs to employment facilitation services and create a registry for returned OFs (e.g., through PhilJobnet, PESO Employment Information System, and e-registration).

● Improving inter-agency coordination such that OFs are promptly referred to and assisted by the right agency for specific service requirements.

● Expanding bilateral and regional ties to diversify and explore prospective destination countries for OFs.

● Establishing labor cooperation agreements for specific category of workers such as household service workers and teachers are also being explored to provide ample protection to OFWs.

All labor is not the same, and therefore, it can be improved and it can also depreciate. Companies inject training and development programs to better their human capital. An economy’s human capital may depreciate if there is high and prolonged unemployment. Geographically, and in most cases this could mean economically as well, human capital can migrate or move outside a particular community or economic zone or boundary. In the case of the Philippines, out migration of human capital isn’t new and it is not something that appears lightly. And as the data suggests, our country’s out-migration is not a critical developmental constraint, at least yet.

It is pertinent, however, that we continue to develop our human capital, especially in emerging industries and build more opportunities domestically so we can also leverage our talent and produce more output at home. If the world benefits from our talent, then it may be better if we benefit from the workforce we mold and develop as well, so that we don’t just gear up Filipinos for the world, but we prepare the Philippines itself as well.

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asean-community · 7 years

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Women Migrant Workers in the ASEAN Economic Community

Authors/editor(s): The ASEAN Secretariat Jakarta

The ASEAN Economic Community (AEC) was formally established in December 2015. It is expected that the AEC will boost regional economies by 7.1 per cent and create almost 14 million new jobs. Free movement of skilled labour, which takes into account relevant domestic regulations and market demand conditions, is a key component of this regional economic integration agenda. ASEAN main destination countries – Brunei Darussalam, Malaysia and Singapore – have already experienced large labour mobility flows and a high reliance of several industries on migrant workers. Currently, the total stock of international migrants in the ASEAN is 9.9 million and of those, nearly 6.9 million have moved between countries within the region. Furthermore, according to recent research, the share of migrant workers is expected to rise with the regional integration of labour markets. To facilitate the governance of labour flows and ensure the successful economic integration of migrant workers in ASEAN, a plethora of regional frameworks, coordination mechanisms and national policy initiatives have been devised, setting ASEAN at the forefront of the international governance of labour mobility.

A substantive contribution towards the region’s labour markets, production and remittance flows is made by women and girls who account for nearly half (48.7 per cent) of the intra-ASEAN migrant working age population. Yet a growing body of research has raised concerns about intersecting gender, age, ethnicity and legal status vulnerabilities impacting access to rights and opportunities for women and girls at different stages of the migration journey as well as about disparities in access to employment, income and social protection. Intrinsically, a fair question to ask is whether ASEAN’s women and girls migrant workers, who are often employed in low-skill professions, will benefit from the expected increasing mobility and job opportunities in their own region.

The overall aim of this study is to shed new light on intra-ASEAN migrant women’s labour mobility trends, access to and outcomes in labour markets, the contribution to ASEAN economies and high-growth sectors, and the challenges of social and economic inclusion. The report also reviews the current migrant governance frameworks at national and regional level, providing actionable evidence-based policy recommendations to benefit from women’s labour mobility, provide fair and equitable migration opportunities for women, and enhance regional social and economic development.

View online/download here

#asean #association of southeast asian nations #southeast asia #asean community #asean economic community #aec #women migrant workers

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joshuajacksonlyblog · 6 years

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Ripple Announces Positive First Pilot Results for xRapid

Ripple, a real-time gross settlement system, currency exchange, and remittance network, has announced the results of its first pilot for xRapid — the company’s business solution for payment providers and financial institutions looking to expand their reaches into new markets with increased scale, speed, and cost efficiency.

Promising Results

In its push to modernize financial services infrastructure via high-powered blockchain-powered solutions, improve the speed and cost of cross-border payments, lower barriers to financial inclusion, and pump trillions into the global economy, Ripple has announced the results of its in-house xRapid technology. Noted the company late last week:

Today, we’re a step closer to realizing these goals with xRapid. It eliminates delays in global payments while also dramatically lowering cost. xRapid leverages the technology behind the digital asset XRP, to make cross-border payments truly instant. Aggregated results from several pilots for xRapid are now available.

As expected, Ripple claims positive results, writing:

For payments in the critical remittance corridor between the U.S. and Mexico, financial institutions using xRapid saw a savings of 40-70 percent compared to what they normally pay foreign exchange brokers. An average xRapid payment took just over two minutes, compared to today’s average of two to three days when sending cross-border payments. The portion of the transfer that relies on the XRP Ledger takes two to three seconds, with the additional processing time attributed to movement across the intermediary digital asset exchanges and local payment rails.

Naturally, one wouldn’t expect Ripple to share negative results. Nevertheless, the first pilot test of xRapid shows a promising future for the company’s XRP-powered technology.

How It Works

For those unfamiliar with xRapid, the technology works as follows:

[A] financial institution connects directly to digital asset exchanges in both the originating and destination corridors. The originating currency is exchanged into XRP which provides the necessary liquidity to power the final payment, and then in seconds that XRP is exchanged into the destination currency in the second digital asset exchange. Once this transaction takes place, the funds are sent out on the local rails of the destination country for payout. The transaction is tracked end-to-end, and the result is a cross-border payment that is cheaper and faster than ever before.

Friends in High Places

Ripple has built quite the stable of partnerships over the past half year.

The Japan Consortium is set to launch a revolutionary smartphone app called “MoneyTap” in fall 2018, which will allow customers to settle transactions instantaneously, 24/7. The app is powered by Ripple’s blockchain technology.

Additionally, the San Francisco-based company announced partnerships with five new European and Asian customers — FairFX (U.K.), RationalFX (U.K.), Exchange4Free (U.K.), UniPAY (Georgia), and MoneyMatch (Malaysia) — late last month, which will all use xVia to power frictionless payments over RippleNet.

Most recently, Coinone Transfer — a subsidiary of Coinone — officially joined RippleNet, and is set to use xCurrent.

Of course, not everyone is on board with Ripple and it’s blockchain-based solutions. Many proponents of blockchain technology claim the project is too centralized and centers around a cryptocurrency (XRP) which actually has very little utility. Some have even gone so far as to claim the company is trying to build a private central bank.

@twobitidiot summarizes it for me: "Ripple is trying to build a private central bank". https://t.co/4k4IJfLEiE

— Tuur Demeester (@TuurDemeester) May 8, 2018

Regardless of one’s opinion on Ripple and XRP, expect major announcements from the company at Consensus 2018.

What do you think about Ripple and its suite of blockchain solutions? Do you think XRP lacks utility? Let us know in the comments below!

Images courtesy of Shutterstock, Bitcoinist archives, and Twitter/@TuurDemeester.

The post Ripple Announces Positive First Pilot Results for xRapid appeared first on Bitcoinist.com.

from Cryptocracken Tumblr https://ift.tt/2rEzXmR via IFTTT

#IFTTT #Cryptocracken Tumblr

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jacobhinkley · 6 years

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Ripple Announced Partnership with 5 New Companies for Its xVia Product

A number of banking and independent financial institutions are seen transforming their services by adopting more technologically advanced solutions which can deliver a better customer experience. San Francisco-based blockchain startup Ripple is seen pursuing its goals quite aggressively in this regard and has been on a spree of partnerships with other institutions across the globe.

On Thursday, April 26, Ripple officially announced yet another important collaboration with five companies across Europe and Asia which would be using Ripple’s xVia technology. These firms include settlements company UniPay from the Republic of Georgia, peer-to-peer currency exchange platform MoneyMatch in Malaysia and three U.K-based firms FairFX, RationalFX and Exchange4Free.

Chris Humphrey, CEO of RationalFX, said, “This is an exciting new partnership for RationalFX, and we look forward to passing on the benefits of xVia to our clients across the globe.”

Ripple in its blog post says that the xVia technology solution will be particularly beneficial in emerging markets which currently have a poor infrastructure for global payments. Instead of relying on traditional banking services, xVia will provide these markets with a better way to move their money such that it helps to keep pace with the expanding financial inclusion.

xVia will be provided as an API extension to payment providers, digital wallets and other corporates, and will be using Ripple’s own private blockchain – RippleNet. xVia solution will help to considerably reduce the operational costs while increasing the remittance speed at the same time. It will also help to improve the transactional transparency and thus help businesses to scale quickly.

In the press release, Asheesh Birla, senior vice president of product at Ripple said: “By tapping our global network with xVia, our customers now access new markets quicker and cost-efficiently. All of these customers run into the same problem: building bespoke connections to banks and networks all over the world. It’s expensive and time-consuming. xVia enables them to grow their overall market share by reaching new customers in new markets, easier than ever before.”

xVia powered with RippleNet will allow payment providers to use only one standard which will help to considerably reduce high failure rates currently seen in the traditional wire transfers. It will also help in lowering manual reconciliation costs.

James Hickman, Chief Commercial Officer at FairFX echoed similar views to Birla saying: “xVia will allow us to reach more people, more efficiently and at a lower cost. It will also enable us to deliver on our commitment to give customers the most transparent, efficient and truly global money transfer experience possible using RippleNet.”

Apart from the xVia API solution, Ripple Labs provides a number of blockchain solutions like xRapid that provides on-demand liquidity of XRP tokens and the xCurrent solution which allows banks to process the payments just in a day’s time.

This week earlier, Ripple officially shared its Q1 performance with the sales of its XRP tokens growing by 83 percent in comparison tot he previous year.

The 2018 Q1 #XRP Markets Report is here! We take a critical look at the digital asset and the ecosystem around it. https://t.co/1pOrmVRhWF

— Ripple (@Ripple) April 25, 2018

The report also highlights the rise in XRP use where it notes that “While the total market capitalization of all digital assets was the same on both November 24, 2017, and March 31, 2018, XRP’s share of that market capitalization doubled, rising from 3.56 percent to 7.57 percent.”

The post Ripple Announced Partnership with 5 New Companies for Its xVia Product appeared first on CoinSpeaker.

Ripple Announced Partnership with 5 New Companies for Its xVia Product published first on https://medium.com/@smartoptions

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deepakrathod-blog · 4 years

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Magnesium Chloride Industry - Size, Growth, Trends, by 2024

Market Research Future Has Published a Cooked Research Report on the Magnesium Chloride Market Research Report - Global Forecast till 2024

Market Definition:

Magnesium Chloride is used in diverse industries such as healthcare, R&D, building & construction, pharmaceuticals, food & feed, and chemical sector. Besides, it finds extensive application as a deicing agent and dust suppressant. Resultantly, a vast amount of consumption in a wide range of application areas drives the magnesium chloride market on a global level.

Magnesium Chloride Industry is expected to reach USD 212,823.3 MN by 2024. The market is expected to register a 4.65% CAGR throughout the assessment period (2017 – 2024). The ever-increasing global population is fueling the demand for quality housing and better infrastructure. This, as a result, creates a massive market demand, absorbing a vast amount of cement in construction activities.

Get a Free sample @ https://www.marketresearchfuture.com/sample_request/8101

Market Scenario and Growth Factors:

Improving economic conditions act as a significant tailwind influencing the market growth, driving the construction and food market. Besides, the rising global economy is fostering the growth of the market, boosting the pharmaceutical and healthcare sector. Depleting water levels are prompting the usages of water, wisely, which is providing a huge impetus to the market growth, influencing the wastewater treatment market.

Given the health benefits associated with its consumption, a considerable amount of magnesium chloride is absorbed in the pharmaceutical and nutraceutical industry. Continually growing cement industry driven by the rising residential and commercial construction projects is propelling the growth of the market. Ice deposition on roads and vehicles is a common issue encountered in colder regions, which drives substantial market demand.

The burgeoning Healthcare sector worldwide is expected to grow pervasively in the years to come, which implies more demand for medicines and hence, for magnesium chloride. With the rising advancements in technology, manufacturing techniques have been evolving rapidly, which are influencing the market growth, increasing the production of magnesium chloride.

Competitive Outlook:

Highly competitive, the magnesium chloride market appears to be fragmented due to the presence of many large and small-scale players. With increasing industrialization and upgrades, manufacturers are setting up more facilities to increase production capacities and to meet the rising demand in the most efficient manner. To meet the goals, they make substantial investments. They try to inculcate the latest techniques in their production procedures to reduce the remittance of harmful gases.

Major Payers:

Players leading the global magnesium chloride market include:

· K+S KALI GmbH

· Compass Minerals

· ICL

· Merck KGaA

· Intrepid

· Nedmag B.V.

· DEUSA International GmbH

· NikoMag

· HuiTai Investment Co., Ltd

· Skyline Chemical Corporation

Industry/ Innovation/Related News

October 15, 2019 ---- Thermo Fisher Scientific (the US), a biotechnology product development company, launched a new handheld X-ray fluorescence analyzer - IonicX XRF Analyzer that can help pharmaceutical and biopharmaceutical manufacturers to verify the identity of ionic salts in warehouses within seconds. According to the company, the new technology helps save time and money that is otherwise used on conventional analysis techniques.

This is achieved by directly putting laboratory-grade capabilities into the hands of raw material, and quality control managers irrespective of their location in the manufacturing facility said, Thermo Fisher.

It has the capability to identify and authenticate the five most-used salts in biopharmaceutical and pharmaceutical manufacturing, including magnesium chloride (MgCl2), sodium chloride (NaCl), potassium chloride (KCl), sodium hydroxide (NaOH), and calcium chloride (CaCl2).

Segment:

The market is segmented into four dynamics to widen the scope of understanding,

By Form : Liquid and Flakes.

By Grade : Industrial, Food, and Pharmaceutical.

By Application : Deicing Agent, Dust Suppressant, Chemicals & Derivatives, Building Materials, Pharmaceuticals, Food & Feed, and others.

By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.

Regional Analysis:

The Asia Pacific leads the global magnesium chloride market. The significant market share of the region attributes to the rapid industrialization and urbanization in countries such as India, Thailand, Indonesia, and Malaysia. The APAC region accounts for over 60% to 65% of the total global population, which is increasing the demand for quality housings.

Besides, the rapid industrialization and urbanization promote the need for improved infrastructure, which is increasing the infrastructural and commercial construction activities. Resultantly, this increases the demand for cement and consequently, the demand for magnesium chloride. Driven by the burgeoning pharmaceutical industries, the region is expected to grow at a CAGR of over 5% during the forecast period.

North America and Europe also hold a substantial share in the global magnesium chloride market. In Europe, the magnesium chloride market is driven by the augmenting demand for anti-icing and deicing agent in countries such as Iceland, Greenland, Switzerland, and Norway. The European magnesium chloride market is projected to create a valuation of USD 54,120.8 MN by the end of the forecast period.

Browse key industry insights spread across 138 pages with 36market data tables & 11 figures & charts from the report, “Magnesium Chloride Market: Information by Form (Liquid and Flakes), Grade (Industrial, Food & Pharmaceutical), Application (Deicing Agent, Dust Suppressant, Chemicals & Derivatives, Building Materials, Pharmaceuticals, Food & Feed and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2024” in detail along with the table of contents @

https://www.marketresearchfuture.com/reports/magnesium-chloride-market-8101

#Magnesium Chloride Industry

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