Episode 3: History of Payments – Hawala

Hawala is a globe-spanning informal funds transfer (ITF) system that has been used since the eighth century to transfer funds anywhere in the world at the speed of information. It is incredibly versatile and simple on the user-side but has also been accused of enabling crime and terrorism.

In this episode, we cover the basics, how it relates to today’s payments industry, and how Hawala can teach us to optimize our networks.

 

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