BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following remittances payments is one area that is a lifeline for millions of people across the globe, especially in rural areas?
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Digital remittance
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Ion remittance
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Blockchain remittance
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None of the above
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Explanation:
Detailed explanation-1: -Blockchain has a promising future in the remittance space as it uses encrypted distributed ledgers to enable reliable and real-time transaction verification without the use of intermediaries such as correspondent banks. This means that both the sender and the receiver have complete transparency with minimal fees.
Detailed explanation-2: -Digital Remittances are cross-border money transfers made over the internet by the migrant population. Remittances in general include fund transfers between residents and non-residents and earnings transfer from short-time workers from other countries to their country of origin.
There is 1 question to complete.