The post Micropayment systems for migrant workers: An economic proposal bridging the US and Central and South America appeared on BitcoinEthereumNews.com.

This article was first published on Dr. Craig Wright’s blog, and we republished with permission from the author. Abstract This paper proposes implementing a micropayment system to facilitate remittances for migrant workers moving from Central and South America to the United States. Traditional remittance methods often involve high transaction fees that significantly decrease the value of money sent to families in workers’ home countries. The proposed system addresses this inefficiency and fosters a more equitable economic landscape. Through this paper, we examine the physical and human geographical features of the regions involved and analyze the current political climate that shapes financial regulations and policies impacting remittances. Grounded in Kenneth Arrow’s concept of resource allocation and various economic geography terms, such as spatial interaction, agglomeration, and economic diversification, this proposal aims to reduce spatial inequality, stimulate regional economic integration, and serve vulnerable populations, thus reflecting the love of Christ. The micropayment system is not only an economic innovation but also a service-oriented initiative that champions fairness and justice, promoting the welfare of migrant workers. The paper outlines a comprehensive mechanism for promoting the proposed system to relevant officials and stakeholders, incorporating policy papers, stakeholder engagement, public advocacy, and legislative proposals. By weaving together the threads of economics, geography, politics, and Christian principles, the study uniquely contributes to the discourse on financial systems for migrant remittances. Introduction The economic activity we are promoting in this paper is introducing a micropayment system designed explicitly for migrant workers from South and Central America currently residing in the United States. The proposed micropayment system will be primarily based in the United States, which hosts a significant population of these migrant workers. It will also cover the remittance corridor extending to their home countries in South and Central America (Hanieh, 2022). The economic welfare and stability of migrant workers from South and Central…

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Filed under: News - @ December 26, 2023 4:18 am