Sat Dec 09, 2017 5:46 am

Do you know if there is a big market is Belize for remittance payments?

If there is then you need to find people that can accept BCH for local currency. What's the point of sending your hard earned cash back home if 25-50% is going to be taken up in fees on the BTC network, people may as well use Western Union.



I will try get the team here to help you as much as possible.

Yes! There is indeed a big remittance market.Belize has a small population (about 400.000 people). And, I am told, there are about the same number of Belizeans living and working abroad (mainly the USA). There is a lot of money being sent, but I can't quite get my finger behind this yet. I know many people use Western Union, but I can't help but sense that there is something else going on too.Yesterday, I learned that there are a "lot" of people from Guatemala who work in Belize. They will send their money back to Guatemala. From the perspective of a Guatemalan, Belize is a wealthy country. From the perspective of Belizeans, Mexico or the USA are wealthy.Then there is the issue with Central Bank approval for transfers. I spoke at length with a real estate agent / business owner about a year ago, about using Bitcoin (at the time). He had some foreign clients that had sold their property, and needed to move the money out of the country. And that was a multi-month process. And it wasn't some crazy amount of money, a few hundred thousand US Dollars. The Central Bank would then approve a 5000 dollar transfer here, and a 10000 dollar transfer there. And then he'd have to wait to sent the rest. (This is actually a very interesting topic, according to rumors the Central Bank doesn't have the foreign currency it needs for its commitments. May or may not be true. But these stories do make sense if you make that assumption). Last year, that was really only a problem if you had a buyer that used Belize Dollars for the transaction, so many foreigners planning to leave the country opted only to sell to other foreigners, and never have the money enter the country. Now, that has changed, and the Central Bank is again causing friction. Now, if you want to buy a house, the transfer has to be done in Belize Dollars, again the Central Bank needs to give its approval, and then the Lands Department can register the property you bought in your name. If the Central Bank doesn't 'see' the money, they won't approve, and you can't register. I still need to double-check (I recently got to know a senior government official working in the legal department of the Lands Department - I must check with him if this story is true (he loves Bitcoin Cash!)). But if it is, then today, every single foreigner selling real estate (and leaving the country) has issues getting the money out.Anyway, I'll end the rant hereJust a glimpse into the machinery of this country.Just FYI, I'm learning a lot of this stuff myself. I am not a Belizean myself. I moved here about three years ago.