Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

UN Agency Cites XRP in Report on Financial Inclusion

by Daily Hodl Staff
August 20, 2019
in Ripple and XRP

A 2019 report from the United Nation’s Universal Postal Union (UPU) has surfaced, citing the potential adoption of crypto assets like XRP.

The agency, which coordinates postal policies among member nations, highlights the increasing digitization of postal services around the world, and how digital assets can lower costs for consumers.

“Keeping pace with recent innovations, the UPU is examining the role that distributed ledger technology (DLT), blockchain and cryptocurrencies can play in the postal industry, as well as the role of the UPU and its members in enabling efficient delivery of services.

We find that there are already some examples of Posts around the world leveraging or experimenting with DLT to provide financial and logistics services.”

The report references an internal study showing that 90% of post offices around the world offer some form of financial service, targeting groups that are “typically excluded from the formal financial system,” and highlights XRP as a cryptocurrency that could power instant and low cost remittances.

“With the success and uptake of these products, the Post could explore alternatives such as cryptocurrency-based money transfers.

The Post, leveraging its extensive network of physical outlets, can play the role of cash merchant by exchanging cryptocurrency for fiat currency for its customers. As shown in Figure 1 below, a beneficiary (Person B) receives cryptocurrency (we use Ripple – XRP – as an example), from Person A nearly instantaneously.

Person B then goes to the nearest post office, where he/she is given local fiat currency at the spot rate in cash, or as a transfer to their Post Bank account. This reduces transaction time and cost, though the use of cryptocurrency, where transfers through the XRP network are near-instantaneous. The ability to transact at the nearest post office, often in rural locations, also reduces the opportunity cost for Person B.”

Source: Universal Postal Union

The report analyzes the volatile and speculative nature of crypto assets as a potential hurdle to their mass adoption as a medium of exchange, while also pointing to a role the UPU could play in the global adoption of the new technology.

“Through their presence in rural communities and peri-urban areas, and by leveraging their existing financial literacy programmes, Posts could help make communities and individuals aware of the uses of cryptocurrencies, mechanisms to do so, and the advantages of using digital currencies over paper-based currency, thereby increasing uptake and adoption across a wide segment of the population.”

You can check out the full report here.

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Aurigami Collects $12 Million War Chest To Grow Aurora-Based Lending Protocol
    August 2, 2022
  • Impel Adds Bitcoin to ISO 20022 Financial Messaging on XDC Network
    August 2, 2022
  • Serenity Shield and Digital Insights Announce Strategic Partnership
    August 2, 2022
  • Crypto Platform Phemex Becomes Partner of Université Paris Dauphine – PSL To Support Research on DeFi and Cryptocurrency
    August 1, 2022
  • Open Loot Announces Partnership With Hit Factor’s War Park
    August 1, 2022
  • Post Voyager Partners With Ozys, Announces Plans for Multi-Chain Expansion
    July 29, 2022
  • First Decentralized Data Warehouse Space and Time Raises $10 Million Seed Round Led by Framework Ventures
    July 28, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,264.23
$23,264.23
0.25%
Ethereum
$1,707.05
$1,707.05
0.4%
Cardano
$0.530746
$0.530746
2.26%
XRP
$0.37521
$0.37521
0.02%
Dogecoin
$0.069305
$0.069305
0.02%

Spotlight

  • Cardano’s Vasil Hard Fork Delayed for Several More Weeks As ADA Sees Green Week
    July 31, 2022
  • Institutions Turned Bullish on Crypto in July with 2022’s Strongest Inflows of $474,000,000: CoinShares
    August 3, 2022
  • US Conservative Political Organization Makes the Case Against CBDCs, Praises Bitcoin and Private Stablecoins
    August 5, 2022
  • Social Token Platform Socios.com Inks $100,000,000 Deal With Famous Soccer Team FC Barcelona
    August 1, 2022
Finance Magnates London Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl