The Philippines has a rapidly emerging economy with a population of over 100 million. However, two-thirds of the population remains unbanked. 70 million Filipinos have severely limited access to both the domestic and global financial ecosystems. This poses a significant problem when up to 10% of the Philippines’ GDP is made up of international remittances sent from overseas workers to family members across the country.
ConsenSys and UnionBank introduce a #blockchainpayment system that brings financial inclusion to millions of unbanked Filipinos. By harnessing the power of #Enterprise #Ethereum, Project i2i increases accessibility and decreases costs of overseas remittances.
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