This method represents a digital adaptation of a traditional, informal value transfer system. It utilizes a network of brokers or agents to facilitate the movement of funds across borders without physically transporting cash. An application designed for this purpose leverages technology to streamline communication and record-keeping within this established framework, providing a digital interface for users and agents involved in these transactions.
The digitalization of this system can offer increased efficiency and accessibility, particularly in regions where traditional banking infrastructure is limited. Historically, this method has provided a vital channel for remittances and trade finance, offering a faster and often more cost-effective alternative to formal banking channels. The enhanced transparency and tracking capabilities offered by a digital application can potentially mitigate some of the risks associated with the traditional system, while preserving its core advantages.
