• According to the Western Union Global Money Transfer Index, 64% of money transfer consumers send and/or receive money once a month or more.
• Over the next 12 months, 75% of people expect these remittances to increase.
• Remittances are driven by family requirements but also play an important role in future financial planning, such as paying for education costs, supporting business interests at home and saving for the future.

Key Highlights from Global Money Transfer Index

The Western Union Global Money Transfer Index surveyed 30,600 consumers across 20 countries in the Middle East, Africa and Asia Pacific region. It found that 64% of money transfer consumers send and/or receive money once a month or more. Over the next 12 months, 75% expect these remittances to increase due to economic challenges such as higher global cost of living.

Main Purpose of Remittances

The survey found that while family support is identified as the main purpose for remitting, transfers also play a strong role in future financial planning. Paying for education costs ranks second highest as a reason consumers remit money. Supporting business interests at home and saving for the future are cited by consumers as critical reasons too.

Western Union’s ‘Evolve 25’ Strategy

The results from this index bolster Western Union’s ‚Evolve 25‘ strategy which is focused on combining high-value, accessible retail and digital financial services for all types of customers around the world. This strategy will help customers navigate macroeconomic headwinds with greater confidence when it comes to their current and future finances through international money transfers.

Jean Claude Farah’s Statement

Jean Claude Farah, President of Middle East and Asia Pacific at Western Union stated: „We all felt a strong sense of relief as global economies went into post-pandemic recovery,“ said Jean Claude Farah, President of Middle East and Asia Pacific at Western Union.“However, macroeconomic conditions have since made the daily lives of people more challenging.“ He further added that remittances usually remain resilient despite changing conditions because they fulfill an important purpose which makes them even more essential during times like these.

Conclusion

The Western Union Global Money Transfer Index has highlighted how increasingly important international money transfers are becoming in current economic conditions as well as providing insights into how customers use them today and what their expectations are for tomorrow when it comes to their personal finances .

• Shapella upgrade for Ethereum was successfully activated on the Goerli Testnet.
• This upgrade allows validators to withdraw ETH they have been holding since 2020.
• The update combines both Shanghai and Capella consensus layers, with Shanghai as the implementation side upgrade.

Shapella Upgrade for Ethereum Successfully Activated on the Goerli Testnet

The „Shapella“ update for Ethereum on Goerli is now complete, allowing validators to withdraw their held ETH since 2020. With the update, stakers can remove their ETH from the network’s stake and it has already been tried out on open testnets Sepolia and Zhejiang.

Consensus Layer Combination

The Shapella upgrade combines both Shanghai and Capella consensus layers, with Shanghai acting as the implementation side upgrade.

Final Test Run Before Mainnet Launch

The final test run before withdrawals go live on the mainnet in April 2023 is the Goerli testnet, where the hard split went live.

Proof-of-Stake Mechanism

Since proof-of-stake succeeded proof-of-work, Ethereum requires validators to lock in 32 ether (roughly $52,500) in order to take part in staking activities and earn rewards.

Conclusion

With successful activation of Shapella update on Goerli Testnet, validators will be able to withdraw their locked ether from beacon chain once it goes live on mainnet in April 2023.

GFT US Appoints Chief Revenue Officer

• Global digital transformation company GFT has appointed Scott Hofmann as its Chief Revenue Officer (CRO) in the U.S.
• Hofmann previously served as Senior Vice President and Managing Director at Globant and has more than two decades of experience driving digital adoption on both a regional and global scale.
• In his role, Hofmann will drive awareness of how large-scale infrastructural overhauls can enable companies to capitalize on new opportunities, including new business models, revenue streams, and digital customer acquisition.

Scott Hofmann Joins GFT

Global digital transformation company GFT has appointed Scott Hofmann as its Chief Revenue Officer (CRO) in the U.S., following the company’s recently announced plans to unify operations in the Americas to serve companies both in the U.S. and throughout the region. Prior to joining GFT, Hofmann was Senior Vice President and Managing Director at Globant with more than two decades of experience driving digital adoption on both a regional and global scale. His expertise will help fuel GFT’s ambitions in banking, private equity, insurance, manufacturing, and other industries across the country by transforming their legacy infrastructure into cloud-based opportunities for success.

GFT’s Successful Digitalization Projects

GFT has already successfully modernized the legacy infrastructure for some of America’s most influential banks, insurance companies, private equity firms and auto manufacturers on a global scale that enables them to accelerate their rate of digitalization at scale. In banking specifically, GFT built Mox—a cloud-based digital-only bank—for Standard Chartered in just 18 months with thought Machine and AWS partnerships. This successful project serves as an example of what companies can achieve when they embrace digital transformation wholeheartedly.

Hofmann’s Role at GFT

As part of his role at GFT US CRO position ,Hofman will leverage his experience to illustrate to other enterprises how they can confidently digitally transform their infrastructure with accelerated rates while taking advantage of new opportunities such as business models or customer acquisitions strategies . He will also raise awareness about how important it is for traditional industries to invest into digitizing their operations before it’s too late .

Conclusion

The appointment of Scott Hoffmanns marks an important milestone for Global Transformation Company since it signals its ambition towards expanding its reach not only within US but across all countries where it operates . His expertise combined with GFTS years long successful projects should enable other enterprise to join the revolution without fear or hesitation .

• MobileCoin announced that they will match donations made to a Ukraine Humanitarian Effort via their Moby App.
• The fundraising effort is part of ETHDenver’s Privacy Highlight, which features many subject matter experts and a surprise musical performance.
• The event is scheduled on March 4th at 4:00pm MST on ETHDenver’s Main stage.

MobileCoin to Match Crypto Donations for Ukraine Fundraiser

Business Wire reported that MobileCoin, a digital payments ecosystem, will lead a fundraising effort for Ukraine humanitarian aid following ETHDenver’s Privacy Highlight. This four-hour session will feature many subject matter experts and include MobileCoin CTO Sara Drakeley along with a surprise musical performance that will raise money for the cause. During the event, MobileCoin will match any donations collected through its Moby App.

ETHDenver an Important Event in Decentralized Industry

ETHDenver is community-run conference and widely considered one of the most important events in the Web3 industry. This year’s Privacy Highlight takes place on Saturday, March 4th at 4:00 PM MST on ETHDever’s Main Stage.

About MobileCoin

MobileCoin was founded in 2017 as a layer 1 blockchain focused on providing fast, secure, and frictionless payments compatible with mobile devices. After launching mainnet in 2020, the company released its Moby app which is now available globally.

Information For Media Inquiries

For all media inquiries related to MobileCoin or their participation at ETH Denver’s Privacy Highlight please contact [email protected]

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