Melissa Lee outstanding CNBC news anchor on Fast Money is not afraid to step out of the studio into a third world country to do some investigative journalism. Melissa travels to Khayelitsha, South Africa the biggest and poorest in South Africa. As Ran Neu-Ner explains that the US have all the financial product we can ask for as sophisticated as we are the US uses the blockchain as a fun technology game, but it is not a necessity, but in Africa you need it because it is impossible to send money they have No infrastructure no ATM how do they get their money is the question.
Just transferring money through a bank takes days or even weeks at an astonishing rate of 10%, so they have to resort to another way to send their money faster and cheaper. They go down to the bus station and give their money to the bus driver and hoping they deliver the money to their family and they don’t get robbed.
Kuda Kwashe the Uber driver said ” I wish there was another option that is safe and cheap to send money”
There is and its coming.