Spark's Experience at RemTECH Awards

Why are RemTECH Awards important to Spark?

Sharing the same values for innovation in remittance field.

Spark is the pioneer of the world first cash in, cash out Blockchain powered remittance platform that enables Money Transfer Operators (MTOs) and Individuals to send money quicker, cheaper and to more destinations than ever before. The RemTech Awards is welcoming companies / start up (apply here) providing innovations that contribute to development, benefit the market ecosystem, improve transparency, speed, cost and reliability for the companies and end-users that send and receive remittances every day.We are excited to help promote and develop the innovation space in the money transfer industry as there are many potential uses for technology by incumbents and new players alike.

The Same Target

Remtech Awards is gathering in one place the future of the remittance world and more particularly disruptive companies involving :

  1. Blockchain technology (or not)
  2. Those making great strides but are relatively unknown,
  3. Organisations that have a stake in South Asia remittance and development
  4. Solving today’s money transfer problems but also are anticipating the future’s
  5. Develop solutions in periphery industries that could benefit cross-border senders and their recipients

The Benefit of participating to RemTech Awards

George Harrap co-founder and CEO of Spark’s company is very kind to participate as a judge for the Blockchain part. He also welcomes all the innovative start-up of the remittance industry to join the RemTech Awards and might get a chance to get the winner benefit:

  1. Get recognized for your RemTECH Award in front of the World Bank, IFAD, and Bank of Malaysia hosted GFRID 2018 audience in Kuala Lumpur, Malaysia
  2. Meet world-influencers and executives from central banks, NGOs, government organizations, money service businesses, and blockchain companies
  3. Receive a RemTECH Awards trophy and a digital badge you can display on your website and signature
  4. Gain international press on your innovation as a RemTECH Awards Winner
  5. Be apart of one of the first industry awards voted on blockchain
  6. Earn an award validated by both the remittance private and public sector

Spark is vested in the continued growth of innovative services and market uptake for new products and services in the remittance industry and being a sponsor and judge at the RemTech Awards ensure Spark can stay at the forefront of innovative new technologies and services in this space.

Spark is always eager to engage new service providers, regulators and organisations that can help us achieve our company mission for improving financial access around the world utilising cryptocurrencies and the RemTech Awards is an ideal location to meet many of the industry leaders and connections in Spark’s home geography.

The drivers for the increase in cryptocurrency usage despite regulation.

The major driver for all cryptocurrencies are users, investors, traders, speculators and businesses in Asia. Japan and Korea account for over 50% of the total usage and volume for cryptocurrency trading with cryptocurrency businesses basing their headquarters in Hong Kong.

This rapid growth is despite regulatory uncertainty in many jurisdictions is primarily driven by usage of cryptocurrencies as an alternative financial asset and their intrinsic value to companies moving money around the world. Asia is perfectly placed to benefit from the growing adoption, demand and friendly regulatory regimes of the region for added economic growth and financial freedom brought about by cryptocurrencies and Spark is delighted to be in the heart of it and a pioneer in the space.

At IMTC 2017 in Miami, USA, Spark saw first hand the changing mindset of money transfer companies when looking at Blockchain and cryptocurrencies for moving money. Previously, Bitcoin was seen as an outlier with only a few crazy new technology companies dipping their toes in the space but in 2017 a genuine increase in interest from existing traditional money transfer companies examining how this can benefit their business, increase margins, solve de-risking and other issues they may have from time to time.

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