Blockchain is one of the most promising fintech innovations of our time. It can revolutionize international finance. Cryptocurrencies have the potential to bring down the high costs of international money transfers down to almost zero. This would help millions of the world’s poor who depend on remittances. These developments would move us closer to achieving the global Strategic Development Goals. However, Blockchain applications have challenges too.

The foremost hurdle to the adoption of digital currencies is the issue of regulating them. Nations have taken widely different approaches to this. Some have burnt their fingers and others remain cautious. There are also a select few countries that are aggressively adopting and promoting digital currencies. Continue reading →