The work at a distance, representing one of the elemental forms of income in the current times of pandemic. In this sense, the criptoactivos play an important role as one of the most efficient ways to perform cross-border transfers.

Precisely, this was the topic of discussion on day 6 of the Indonesia Blockchain Week 2020. The guests highlighted interesting points on the importance of this type of transfer and the advantages that they represent the criptomonedas.

In fact, before the pandemic, the work distance, that is to say, from one country to another, already had been on the rise. Many international firms are serving talents that do not exist within their own borders.

The criptoactivos as the most efficient form of transfers

There are multiple services that provide wire transfers of money from one country to another. Some of them are the banks, Western Union, PayPal, among many others. But they have high commissions for each transfer.

It is at this stage, explained co-founder of the firm Switceo, Jack d’yeu, in the BWIS 2020, the criptoactivos become the most efficient form of cross-border transfers for many reasons. “Among the advantages of the criptoactivos, we highlight the speed of transactions thanks to Blockchain and at the same time, the low commissions”.

This, according to the appreciation of Yeu, offers great advantages to both, both to the person who pays, as to which the payment is received. The most classic example, he continues, is the working distance.

On the other hand, explained that forms of payment digital are a new normal. Gave as an example Twitter. This social networking company assured its employees that they will now be able to work from home forever.

Barriers to using Blockchain transfers

In a similar tone, Robin Schmidt, creative director of Harmony-One, referred to the criptoactivos as the only way to really efficiently make cross-border payments. This efficiency, he explains, is due to the superiority of the network Blockchain on any other banking system.

“A few years ago, in regard to cross border payments, already spoke of Blockchain, but very little about the stablecoins. Now, the reality is very different. This allows developers to not be restricted in the use of any type of criptoactivos”explains, referring to the multiple options and efficient options that represents this form of payment.

Are opening, continues, new ways of thinking about finance and thinking of the money. However, ensures that there are many difficulties, because understand the workings of the DeFi dedicated to payments with Blockchain, “it requires a great level of understanding that until now not all have”.

Think of the money without a bank, to many people it means putting at risk your money on something you do not know, writes Schmidt. But the commissions are still there and the Blockchain is going becoming by force into a need rather than an option, he said.

Cross-border payments have become a common denominator during this pandemic, the criptoactivos represent the most efficient form of the same.
Cross-border payments have become a common denominator during this pandemic, the criptoactivos represent the most efficient form of the same.

A changing reality

The expansion of the forms of cross-border payments by way of banks or Blockchain, I was already in a race unstoppable. With the pandemic of the COVID-19, this trend has accelerated, consider Joe Contini, head of product Xendit.

For him, even if the benefits of the Blockchain are lost of view, we are far from the day that this technology will dominate the international arena. Certainly, he says, the criptoactivos are the most efficient way, although the domain of practically the total of the transfers from one country to another has banking centralized.

But, in his opinion, it is a changing reality. “In a few years, the domain of the banking will not be absolute. We are in the midst of a changing reality, and where the advantages of the criptoactivos are being used by more and more people”supplements Dorian Johannink, founder of Only.

In this way, the panelists agree that the cards are stacked. The technology changed irrevocably and there are the criptoactivos, with its most efficient, robust and economic to predominate in the world of cross-border payments.

The DeFi, they claim, have a great future ahead of him. The boom that you are now having, it will pale with the avalanche of users in a short time will be demanding their services.

Data to be taken into consideration

  • The efficiency of the criptoactivos as a form of cross-border payments, has a number of ways, including the immediacy of the transfers, low fees and security.
  • Blockchain does not currently pose a competition in numbers for the traditional banking system. However, its superiority in every way, leave it as an option, latent, waiting to be used.
  • The problem of payments with Blockchain, is the difficulty for ordinary people to understand the workings of the DeFi.
  • The work at a distance, with the pandemic of the Coronavirus, they are masificando at a much more frantic than intended. A good strategy of the DeFi, it could also speed up the replacement of the traditional forms by the Blockchain.

Reliable sources

The information of this content has been taken from reliable sources which are detailed below:

1 – professional Management of content by the authors of CriptoTendencia.
2 – external Sources: Indonesiablockchainweek.com.

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Tech Junkie is a small word for Vikas Kaushik. Whether the latest game on the market or a new gadget launch he is the go-to person. He drives his motivation from the fast-paced technological advancements. He ensures that the right news reaches niche audiences. An avid biker and movie buff he has deep-rooted faith in upcoming technological inventions and is a torchbearer for the tech revolution.

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