Purpose

This study employs an interpretivist approach to investigate how blockchain technology can transform the remittance industry.

Design/methodology/approach

We collected data from blockchain experts with extensive experience, compellingly demonstrating the revolutionary impact of blockchain technology on the remittance sector.

Findings

Despite experiencing rapid growth, the global remittance sector still faces challenges such as high costs and lengthy transaction times. However, blockchain technology, known for disrupting emerging industries, offers a decentralized and secure mechanism for containing, storing and managing information. By leveraging rapid block confirmations, blockchain reduces settlement times in remittance transactions, enabling value transfers between parties with just a crypto wallet.

Research limitations/implications

The implications of this study are profound for theorists, as it validates existing theoretical frameworks, identifies specific pain points and explores exciting opportunities presented by blockchain technology. Additionally, we provide a roadmap for future research and innovation, bridging theory and practice and setting the stage for advancement, fostering knowledge, innovation and the successful integration of blockchain technology in the remittance industry.

Originality/value

Analysis highlights a unanimous consensus among experts regarding the transformative potential of blockchain technology in the remittance industry. This consensus serves as a strong impetus for practitioners to swiftly adopt blockchain-based solutions, capitalizing on opportunities such as stable coin issuance, elimination of intermediaries in foreign exchange trading, access to liquidity and the exploration of new business models. Successfully addressing challenges like congestion and limited reach will ensure seamless integration.

中文翻译：

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改变汇款行业：利用区块链技术的力量

 目的

本研究采用解释主义方法来研究区块链技术如何改变汇款行业。

设计/方法论/途径

我们从经验丰富的区块链专家那里收集了数据，有力地展示了区块链技术对汇款行业的革命性影响。

 发现

尽管经历了快速增长，全球汇款行业仍面临成本高、交易时间长等挑战。然而，以颠覆新兴产业而闻名的区块链技术提供了一种去中心化且安全的机制来包含、存储和管理信息。通过利用快速区块确认，区块链减少了汇款交易的结算时间，只需一个加密钱包就可以在各方之间进行价值转移。

研究局限性/影响

这项研究对理论家来说意义深远，因为它验证了现有的理论框架，确定了具体的痛点并探索了区块链技术带来的令人兴奋的机会。此外，我们还为未来的研究和创新提供了路线图，连接理论和实践，并为进步奠定基础，促进知识、创新以及区块链技术在汇款行业的成功整合。

 原创性/价值

分析表明，专家们对区块链技术在汇款行业的变革潜力达成了一致共识。这一共识有力地推动了从业者迅速采用基于区块链的解决方案，利用稳定币发行、消除外汇交易中介、获得流动性和探索新商业模式等机会。成功解决拥堵和有限范围等挑战将确保无缝集成。