The current remittance system is indeed broken, and it's the people who need support the most who suffer. Traditional banks and remittance providers dominate the payment rails, setting high fees with little competition, resulting in slow and costly transactions.

*The Problem:*

- *High Fees*: Sending $200 to Tanzania can result in fees as high as $115, eating up more than half of the amount.

- *Lack of Competition*: Traditional banks and remittance providers have little incentive to lower fees due to limited competition.

- *Slow Transactions*: Transfers can take a significant amount of time, further delaying the support needed by recipients.

*The Solution:*

- *Blockchain-based Payment Solutions*: Utilizing blockchain technology, like Solana or Ethereum L2, can offer faster, cheaper, and more transparent transactions.

- *Stablecoins*: Transferring stablecoins worth thousands can cost fractions of a cent and settle in seconds, making it a more efficient option.

- *Increased Transparency*: Blockchain technology provides a transparent ledger, reducing the risk of hidden fees and increasing trust in the system.

*The Future:*

- *Adoption*: Banks can either adapt to this shift and risk losing relevance or resist and potentially become obsolete.

- *Global Inclusivity*: Blockchain-based payment solutions have the potential to increase global financial inclusivity, providing faster and more affordable transactions for those who need it most.