Base Layer Episode 039 - Michael Dunworth (Wyre)
Michael Dunworth, Wyre Co-Founder and CEO joins Base Layer to discuss what their 6 year old company is up to these days. For both individuals and enterprises alike, transferring money internationally serves as one of the most practical use cases for blockchain technology. By accelerating the speed and reducing the cost of international payments, blockchain can help businesses at every scale operate more efficiently and drive substantial spikes in revenue. Wyre uses proprietary blockchain technology to complete cross-border payments, cutting the time and expenses traditionally tied to banks and other financial institutions. While banks take up to 3 days and charge between 4-6% for international money transfers, Wyre completes transactions in less than six hours, charging less than 1%.