Cryptocurrencies have the potential to address several challenges associated with traditional remittance systems across the globe. Here are some ways in which cryptocurrencies have helped solve the world remittance issue:

1. Lower Transaction Costs: Traditional remittance services often involve high fees and additional charges, such as currency exchange fees and intermediary fees. Cryptocurrencies enable peer-to-peer transactions without the need for intermediaries, resulting in significantly reduced transaction costs.

2. Faster Transactions: Cryptocurrencies facilitate near-instantaneous transactions across borders. Traditional remittances can take several days or even weeks to reach the intended recipient due to the involvement of multiple intermediaries and complex banking processes.

3. Financial Inclusion: Cryptocurrencies provide an opportunity for the unbanked and underbanked populations to access financial services. With a smartphone and an internet connection, individuals can participate in cryptocurrency transactions and send or receive remittances without the need for a traditional bank account.

4. Borderless Transactions: Cryptocurrencies operate on decentralized networks and are not bound by geographical borders. This makes it easier to send and receive remittances across different countries without the need for traditional banking infrastructure.

5. Security and Transparency: Blockchain technology, which underlies most cryptocurrencies, offers enhanced security and transparency. Transaction records are stored on a decentralized ledger, making them resistant to tampering and fraud. This can help reduce the risks associated with remittance fraud and improve the overall security of cross-border transactions.

6. Accessibility and Convenience: Cryptocurrencies can be accessed and used by anyone with an internet connection, providing greater convenience compared to traditional remittance methods. This is particularly beneficial for individuals in remote areas who may have limited access to traditional banking services.

7. Decentralization and Trust: Cryptocurrencies operate on decentralized networks, removing the need for a central authority to oversee transactions. This decentralized nature can help build trust among users, as transactions are verified and recorded by a network of participants rather than a single entity.

While cryptocurrencies offer several advantages for remittances, it's important to note that challenges remain. These include regulatory concerns, price volatility, scalability issues, and the need for wider adoption of cryptocurrencies to achieve mainstream acceptance. However, ongoing developments in the cryptocurrency space continue to address these challenges and improve the overall efficiency of cross-border remittance systems.