Rebit.ph Co-Founder: Bitcoin Doesn't Make Remittances Cheaper (Yet)
Luis Buenaventure, co-founder of one of the best known bitcoin remittance companies in the space, Rebit.ph, has published a blog post on Medium claiming that the cryptographic currency does little to help cheapen remittances. Bitcoin remittances, better known as "rebittances" (a term Buenaventure claims to have popularized), allow customers to send cash....
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Rebit.ph co-founder Luis Buenaventure recently published a blog post on Medium claiming that Bitcoin does little to help cheapen remittances. While the math-based currency does lower the bar of entry for startups, and local technological innovation could further improve the competitive advantage of so-called "rebittance" companies, Buenaventure argued that most of the cost is currently made in "the first and last mile." While Bitcoin does a great job realizing cross-boarder transfers of money, the distribution of physical cash was the expensive part of remittances all along - a problem....
Philippines-based universal Bitcoin company Satoshi Citadel Industries’ startup Rebit.ph has partnered with Shapeshift.io, enabling its users to send remittances using altcoins supported on the Shapeshift platform. Satoshi Citadel Industries CEO John Bailon announced: Shapeshift.io, an instant crypto to crypto conversion platform, currently supports 46 cryptocurrencies including Counterparty’s XCP, Ethereum’s Ether, Litecoin, Dogecoin, and Monero. Rebit.ph users may use any of Shapeshift’s supported coins to send money back to the Philippines from abroad. “We are excited to be able to....
As of the end of 2016, we are now about seven years into the bitcoin experiment. In that time, remittances have gone from one of the most buzzed-about use cases for bitcoin to one that's billed as one of its biggest challenges. So, can bitcoin make an impact as an intermediary for exotic currencies not often traded? Can it help deliver cash on the ground quicker and cheaper? Well, it turns out there's a lot of ways to approach remittances – from private blockchains, consortiums, apps, FX dealers to decentralized cryptocurrencies. Let's explore some of them below. What doesn't work.....
Over the past year, bitcoin startups in the Philippines and Australia have begun to target day-to-day expenses and remittances; markets that are in desperate need of instantaneous, secure and cost-effective payment systems. Startups including Australia-based Living Room of Satoshi and Manila-based Rebit.ph, also known as the parent company of Bills Ninja, have been trying to educate the global population to use bitcoin in day-to-day expenses, such as paying utility bills and settling bank payments. Paying Bills with Ease. Earlier this year, Rebit.ph acquired bitcoin bills payment platform....
The Philippines is a home to some of the industry’s most innovative startups including Coins.ph and Rebit.ph, that enable cost-efficient remittances from their home country to international recipients. At Bootstrap Manila, Bitcoin startups & investors revealed that 20 percent of remittances from the Philippines to South Korea are processed using Bitcoin. Coins.ph recently secured a $ 5 mln investment from former Google CEO Eric Schmidt’s fund, due to their unique approach that instead of competing with banks and existing financial services, it would be more beneficial for its users to....