Saturday, 17 January 2015

Bitcoin transactions cut the cost of international money transfers

Bitcoin operation helps domestic workers in Hong Kong to transfer money home cheaply
Maria Teresa Lasam doesn't know how bitcoin works but is thrilled that she's able to remit money to her family more conveniently and at a fraction of the usual cost through this cryptocurrency.
The domestic helper sent her money through local start-up Bitspark, which has a temporary Sunday office at World Wide House in Central.
On his laptop, 26-year-old Bitspark CEO George Harrap fills in her details, such as the funds' recipient, the amount, her contact details, and where the remittance will be picked up. It takes about 10 minutes.
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