According to a report of The World Bank, (2020), migrant workers transferred $650 Billion to their families and countries, and they paid a $25 billion remittance fee. The average cost of these transfers was 8.35%. Neom Blockchain Technologies allows migrant workers transfer assets to their countries instantly and with 0% commission.
The high secure Blockchain technology makes users and transactions safe at the maximum level with encryption techniques. This structure is much easier and safer than traditional methods and systems.
People can reduce costs for document creation and storage. On the other hand, there are many advantages, such as ensuring transparency in documents and preventing nepotism.
Neom Blockchain Technologies significantly reduces delays and human errors. In addition, it diminish the costs, labor force, waste, and emissions at every point of the supply chain. It can be used to monitor understanding and control the work's actual environmental impact.
It aims to eliminate the need for a central location between devices, update software and communicate directly to resolve errors and control energy usage.
The global insurance market is built on trust management and the blockchain is a new form of trust management. Many personal data confirmations, such as the insured's identity, are provided in insurance contracts.
With Blockchain Technology, Public benefits like welfare or unemployment benefits to be more streamlined and secure. Blockchain technology is the most efficient and safe method for public benefit.