In this article, We will discuss how to send Remittances at the Speed of Light, With Free of Charge!
How to send cryptoS back home at Quantum Speed (Teleportation) for Free? This is the ideal situation with the smart Blockchain in a foreseeable future; however, with the current development of the technologies, we can accomplish the goal at a reasonable cost and close to the Speed of Light. Here is the perfect scenario:
- A migrant going to work in another city or country and one wants to remit part/full of the salary back home quickly, safely, and cost-effectively.
- A spouse back home will receive the funds to take care of their small family
- Both will share:
- The same wallet (the exact one with the same seeds)
- Use an encrypted messaging App
- Know how to spend with cryptoS and how to convert to their own local currency
The examples that we use here are widely available and anyone can download: Metamask and Telegram
Of course, one can always use other wallets like Phantom or Trust but Metamask is the most popular non-custodian one, your own bank. And Telegram is to communicate securely with end-to-end encryption. We are revealing the secrets of how top people in the military communicate with one another securely like using only one email account with a shared password and sending messages to one another in the Draft, each time a message is read then it’s deleted; However, the trick is to never send those messages out through the Internet as both can log into the same account to read the Draft and no one besides the interested parties will know.
Ok, so let’s go through the perfect case with the steps:
- Each will need to download/Install the Metamask app or the browser extension
- Then download/install Telegram for communication and this can be 2 different accounts
Now we have 2 accounts with Telegram and a single account with Metamask so we need to sync the wallet with 12 words seed. We can use the above method of the military to share the seeds and then delete the messages if we communicate through the draft email ahead of time. Or we can send each word through Telegram one after another after deletion. The Metamask is synchronized as long as the seeds are the same on both devices and this means we willcr see transactions simultaneously much like Teleportation with Quantum Entanglement. What happens in one device we will see the same exact thing on the other in real-time. The best thing about having one wallet on multiple devices/locations is that you have done the backup properly. So maybe backing up the seeds with another method to recover the wallet in case both devices are lost/damaged by accident!
As soon as one receives the salary in the US for example and your spouse at home in another location can see that as well with the shared wallet. Of course, each can have different/separate wallets but for now, that is the assumption which can come with the risks of either wallet can be exposed to hackers and the funds can be lost. This is why you need to make sure to secure the devices with a passcode, fingerprints, and/or faceID. In a very near future, we will see wallet providers upgrading to shared wallets with multi-sig and multi-levels (amounts of money) that might require authorizations to share with your companion, children, and relatives or even with your circles/networks/friends.
Remember the trick of messaging one another on the same Draft of a shared email? We are using the same exact method with a shared wallet here to get all the benefits of Speed, Security, and Convenience.
It is the on-ramp and/or off-ramp that will be the bottleneck to getting into cryptoS and exchanging to other local currencies whether it’s through P2P services or directly with one another. The existing technologies might need a little bit of a learning curve and if we spend a few minutes a day to share knowledge with one another we will all get there much quicker since with creativity we can take advantage of the available resources. This is just an example of what the Blockchain is capable of and you can think of many use cases and tons of applications to make our lives much more accessible.