Having attended an Interpath Edinburgh Accountants Forum, where a presentation was made on Crypto and Blockchain, I identified a need for training and listened to this podcast.

I understand some of the issues are -
Asset category
Valuation
Regulation
Progression toward
Ease of access
From B2B to B2C
Not green - uses a lot of power.

And the use of blockchain. What it means.
So, I need to know more so listened to the recommended podcast -

Mballa Mendouga (AICPA & CIMA, Durham, USA) talks to a Hong Kong-born tech disruptor <Maxime Ryan> who dropped out of University in her early 20s to launch a multi-million dollar startup called BitSpark. Based in Hong Kong, Bitspark is a remittance platform operating out of Hong Kong which uses blockchain for users to send cash overseas faster at lower exchange rates. It's expanding in traditionally unbanked populations and markets, and also operates a virtual platform for crypto-currency and Bitcoin trading.
TOPICS COVERED:
Management accounting: Technical: Management reporting & analysis: Performance management, Foundational
Management accounting: Technical: Cost accounting & management: Cost management in a digital ecosystem, Foundational
Management accounting: Technical: Business planning: Capital expenditure evaluation for IT and digital transformation, Foundational
Management accounting: Technical: Accounting information systems: Accounting information systems and digital technologies, Foundational
OUR GUEST
Maxine Ryan's passion is freedom of financial services for people. In 2014, she co-founded Bitspark, the world's first cash in, cash out blockchain money transfer platformfor Money Transfer Operators which helps business owners send money better via cryptocurrency solutions world wide. She often speaks at tech and finance events, appears on Bloomberg Live and was selected for Forbes 2018 "30 Under 30". Follow her on Twitter via @MaxieRyan and @BitsparksLtd

Her company looked at -

If banks are removed from international transfers then fees are removed. Blockchain allows this.

Block chain is an incorruptable data chain which does not have to be verified by a third-party which stores economic value, such as bitcoin. It is secure as eash but of data relates to the previous one via a unique identifier.

So currently, we send money using bank or Western Union

Sending money like this is fine providing

1.you are sending Top 30 currencies and
2.you need a bank account
3.every market is different so this tech cuts our middle men and makes it cheaper.

So, to help people in the street to send money everywhere and at low costs.

Competitors like Western Union had high cost due to high overhead. Western Union have costs to recover.

But with Crypto, each transaction happens instantaneously and there is less risk.
Her business model made sense is this regard.Many people send money “home” domestic workers e.g., women working overseas.Emerging markets need cash in cash out locations. To open the door if you do not have a bank account.
Cryptocurrency allows this money to flow across the world as it is through the www.

Block chain might replace banks in this regard.
It is cheaper.

High degree of transparency with Blockchain.

However, this is a fast moving sector. I googled the company and found out it closed down in March 2020. What happenned ?
Internal restructuring but no explanation given. Customers were given time to withdraw funds.

The culture surrounding Bitcoin companies is personified by the evocative corporate epitaph provided by Maxine Ryan "As founders we lost our dreams, as a team we lost our future, customers of their services and shareholders of equity and #ZEPH their investment," Ryan wrote.

Actions for me -

Explore Blockchain’s use in supply chains
Explore mining bitcoin
Check out “go beyond disruption”

impressive how simple solutions can wipe out traditional industries, with low to no banking costs and teh globalisation nature of teh world we live in, people will only move monies by these sort of channels in teh near future thus rendering the banking role in money transfer obsolete.