Over the past few years the rise of "Fintech"
(financial technology) has had a profound impact across the
globe.
The exponential growth of the Fintech sector has largely been
fuelled by the rapid rate at which new technology is evolving but
also by the strong consumer appetite for innovation in all aspects
of financial services
Some of the most advanced examples of Fintech innovation can be
found within the payments and money remittance space. The
development and use of cryptocurrencies and blockchain is often the
segment of Fintech that attracts the most headlines. This is
particularly so after some of the largest tech giants have recently
sought to enter the scene.
Here we address the potential for digital currencies, such as
Facebook's newly proposed Libra coin, to facilitate cheaper and
faster cross-border money transfers. We also address the challenges
that Libra and other digital currencies are likely to face before
they begin to make a more widespread
