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|Crew members working on
cruise ships and freighters usually come from foreign countries and are
at sea for a year. Each week the purser meets an armored truck in port
and receives cash for the crew. The purser then counts out the cash for
each crew member, stuffs cash in envelopes, marks the employee’s name on
the envelope and distributes on payday. On payday, the crew member
rushes to a Western Union office to send money home. The lines are long,
and crew often miss the opportunity. Often crew members are mugged and
lose all their earnings. Foreign banks are restricted from doing
business in many countries.
|There is no such thing as a
true global bank! Using digital currency, we arranged for the cruise
ships to deposit pay into crew member’s accounts. Crew members receive
two debit cards—one for them and one for their family members. On
payday, the crew member can access their account anywhere in the world
(or on the ship) where they have access to the Internet. At the click of
a mouse, they can transfer funds from their account to the family, and
the funds can be withdrawn at any of 800,000 ATMs worldwide or used at
any merchant who accepts debit cards.
|Crew members no longer need
to carry cash, and can transfer funds immediately. They no longer have
to wait on lines at Western Union, nor do they have to fear being
The ship owners no longer have to waste time counting and distributing
cash. Payment is as easy as transferring one amount to their account,
with a distribution file as to how the funds are to be disbursed.
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