Bitcoin Crushes Bank Fees in Emerging Economies
http://www.breitbart.com/big-government/2016/03/27/bitcoin-is-crushing-bank-fees-in-emerging-economies/
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New evidence is emerging that virtual currencies and distributed ledgers, like bitcoin, are gaining strength in emerging economies by cutting out huge fees charged by local banks and financial institutions.
Developed markets make up only 43 percent of global gross domestic product and are generally not required to hold much foreign exchange reserves, yet they have been able to issue 87.5 percent of the world’s bonds. It is emerging market central banks that buy 80 percent of those bonds as foreign exchange reserves to gain market credibility.
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Developed markets make up only 43 percent of global gross domestic product and are generally not required to hold much foreign exchange reserves, yet they have been able to issue 87.5 percent of the world’s bonds. It is emerging market central banks that buy 80 percent of those bonds as foreign exchange reserves to gain market credibility.
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