Source: Straits Times
Last weekend was the first weekend after the circuit breaker period in Singapore. So many foreign workers , particularly home maids as in the reported case, flocked to the popular gathering spot of theirs- Orchard Road Lucky Plaza , to do their money remittance back to home country.
As many safety measures were taken by the authorities including the 1 meter queuing distance & limit on the remittance counters to be operational. Last week it's reported that many foreign workers queue so long until to the street just to do the remittance.
So how can the blockchain technology and cryptocurrencies able to resolve the problem these foreign workers facing? while I believe there should already have crypto doing this part of function. But I think it's not popular as far as I know.
Or we do some brainstorming, can the employers issue part of their salary in the form of crypto currency? Eg foreign workers are paid in USDT or XSGD , which are already in the market.
By having USDT or XSGD on hand, the workers can straight send the money to anywhere in the world they like .
For experience that I have, If I have USDT/XSGD in crypto, I could send to another person in their MCO wallet. Then they could convert back to Fiat currency of their choice, or they can convert the money into their MCO VISA Debit card and do their grocery paying with the debit card.
What's more MCO is giving out free USD$50 if using my referral https://platinum.crypto.com/r/brxvhjrevv
Further reading:
@auleo/mco-visa-card-a-crypto-visa-card-must-not-be-missed