Luis Buenaventura is head of product at Satoshi Citadel Industries, the parent company of Rebit.ph, a Philippine bitcoin-based remittance service.
The sister cities of Hong Kong and Macau currently house more than 200,000 migrant Filipinos between them.
The breakdown is fairly homogenous in terms of occupation: the largest group consists of 160,000 Filipinas working on Foreign Domestic Helper visas on the Hong Kong side, with a little under 17,000 on the Macau side.
Together, the two groups transferred over $380m back to their families in the Philippines in 2013, amounting to between 30% and 40% of their collective wages.
The remittances industry has become something of an obsession of mine over this last year, as we have begun the long process of thoroughly educating ourselves on the Overseas Filipino Workers (OFW) situation around the world and rolled out our bitcoin remittance service.
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