Blockchain Press Releases

WorldRemit: 40% of countries to pay more than their monthly income on school supplies this year

Published

1 year ago

July 25, 2023

WorldRemit: 40% of countries to pay more than their monthly income on school supplies this year

WorldRemit releases its third year of data, observing the rising costs of educational supplies across 20 countries globally

LONDON, July 25, 2023 /PRNewswire/ — Today, WorldRemit, a digital remittances brand within Zepz, releases its third year of global data and findings, to understand how the cost of school supplies impact families around the world. As inflation persists and supply chain issues continue to arise across multiple sectors, it comes as no surprise that on average, countries observed can expect costs to rise.

Across countries where people have higher monthly incomes, Canada, the UK and Australia saw nominal decreases in the percentage of income they can expect to allocate, while France and Spain saw notable increases. In France, families can expect to allocate 5% of their monthly budget this year, while in Spain, they can expect to allocate 7% more than last year on basic school supplies.

In other parts of the world, cost changes were far more drastic, where yearly changes averaged an increase of 78%. 1 in 9 people¹ worldwide rely on money sent from friends and relatives who have migrated abroad for work. For families whose incomes simply cannot accommodate the cost of these fundamental supplies, remittances make a world of difference in their ability to afford these supplies, as well as steep costs like tuition, transportation and childcare.

2023 Cost of School Overview Advertisement

	Country	Cost Changes YoY	% of Monthly Household Income	Highest Item increase
Industrialised Nations Advertisement	Canada	-0.4 %	9 %	Gym shoes
	United States Advertisement	+28 %	9 %	Colouring pencils
	United Kingdom	+2 % Advertisement	9 %	Pencils
	France	+41 %	19 % Advertisement	Colouring pencils
	Spain	+53 %	20 %	Pencils Advertisement
	Australia	+19 %	9 %	Pencils
Americas Advertisement	Mexico	+56 %	84 %	Polo shirts
	Guatemala Advertisement	+75 %	334 %	Polo shirts
	Colombia	+81 % Advertisement	153 %	Notebooks
	Dominican Republic	+56 %	72 % Advertisement	Polo shirts
EMEA	Cameroon	+97 %	789 % Advertisement	Ruler
	Morocco	+118 %	262 %	Polo shirts Advertisement
	Nigeria	+162 %	632 %	Sharpener
	Tanzania Advertisement	+62 %	861 %	Socks
	Zimbabwe	+6 % Advertisement	427 %	Pencil case
APAC	Philippines	+16 % Advertisement	51 %	Pencils
APAC	India	+129 %	197 % Advertisement	Notebooks

While practically every country in the study had increased costs, certain items have drastically increased. For example, in Australia a case of 12 pencils has increased more than 4x the cost of the previous year and the cost of notebooks in India is almost 6x as expensive as in 2022.

3.6% or 281 million² of the global population identify as migrants, a number that has steadily increased over the last 30 years. Similarly, remittances have increased from US $126B in 2000 to more than $700B in 2020, with the US, UAE, Saudi Arabia, Switzerland and Germany operating as the top 5 sending countries as of 2020.

While rising costs of living have forced migrants to be more conscious about how they allocate funds for remittances, as of July 2022, WorldRemit data indicates education is one of the top 3 reasons people send money.

To learn more about the study and see full results, visit https://www.worldremit.com/en/back-to-school

References

¹2019: UnitedNations.org, Remittances matter: 8 facts you don’t know about the money migrants send back home

²2022: IOM UN Migration, World Migration Report 2022

Methodology
In the study, WorldRemit looked at the following countries and researched basic school supplies:

United States of America
United Kingdom
Canada
Australia
Philippines
Mexico
Uganda
Tanzania
India
Nigeria
Guatemala
Colombia
Dominican Republic
Morocco
Zimbabwe
Lebanon
Cameroon
Ghana
Kenya
France
Spain

For 2023:

Using the 2022 items list dataset provided, we identified the 2023 prices for 21 counties for the back to school items. Using the data provided from last year we searched for more up to date and cheaper options if available. Using the quantity of items needed shown in column B, we multiplied the cost of the items (when required) to match the quantity e.g. 6 polo shirts, the price identified for one shirt was multiplied by six.The data was gathered between the 21st and 27th of June 2023. All prices were converted into GBP and US dollars using Google on 29th June 2023.

Once all item prices had been gathered, using the CIA world factbook we updated the fertility rate for 2023 estimates and multiplied the cost of the total school items by fertility rate to showcase an overall cost of going back to school for a family.

We also used the World Bank data (as used in the 2022 dataset) to pull the average Net National Income per capita in US dollars and divided this by 12 to showcase a potential monthly salary. The UK had 2018 data from the World Bank, so instead we used OECD data to get the Net National Income for the UK.

For 2022:

The primary school items were selected based on the most common back to school items. The price of each item was searched for online and the lowest price item was selected from one of the most popular online retailers in that country. The prices were researched in July 2022. The exchange rate from the local currency was calculated on 06/08/2022 at 9:00 BST. The fertility rate and income was gathered from the CIA world factbook.

Media Contact:
Kelsey Costales
[email protected]

View original content:https://www.prnewswire.co.uk/news-releases/worldremit-40-of-countries-to-pay-more-than-their-monthly-income-on-school-supplies-this-year-301884507.html

Blockchain

Blocks & Headlines: Today in Blockchain

Published

1 hour ago

January 16, 2025

Peter Tolan

Blockchain technology continues to expand its reach, influencing industries far beyond its origins in cryptocurrency. From strategic collaborations to emerging trends, today’s briefing explores key developments shaping the blockchain ecosystem. Here’s the latest.

Blockchain Lobby Groups Unite for Crypto-Friendly Advocacy

In a landmark move, eight major blockchain lobby groups in the U.S. have joined forces to push for crypto-friendly policies under the new administration. With a regulatory climate expected to favor innovation in blockchain and cryptocurrency, these organizations aim to present a unified voice to influence legislation and public discourse.

The coalition’s agenda focuses on fostering technological adoption, ensuring consumer protection, and clarifying taxation policies. This collaboration highlights the growing recognition of blockchain’s potential to drive economic transformation while addressing concerns about regulation.

Source: CoinDesk

Five Underrated Layer-1 Blockchain Tokens to Watch in 2025

As competition among blockchain platforms intensifies, several Layer-1 blockchain tokens are poised to gain significant traction this year. Analysts spotlight projects that prioritize scalability, interoperability, and developer engagement as ones to watch.

While giants like Ethereum and Solana dominate headlines, emerging players are carving out niches in sectors like decentralized finance (DeFi), gaming, and supply chain solutions. These tokens underscore the innovation flourishing within the Layer-1 ecosystem.

Source: The Crypto Basic

AI and Blockchain Drive Innovation in Mining Industry

The integration of AI and blockchain technologies is revolutionizing the mining sector. Blockchain’s immutable ledger capabilities ensure transparency in supply chain operations, while AI optimizes resource extraction and predictive maintenance.

Together, these technologies address critical challenges such as environmental impact and operational inefficiency. As sustainability takes center stage, the mining industry’s adoption of blockchain and AI represents a significant leap forward.

Source: Mining Technology

The Rapid Rise of Blockchain Mini-Games

Blockchain-powered mini-games are capturing the attention of developers and players alike, thanks to their innovative use of tokenization and play-to-earn models. These games—smaller in scope but high in engagement—offer players real ownership of in-game assets and a chance to earn rewards.

The trend’s popularity stems from its low barrier to entry and appeal to casual gamers, signaling a shift in the gaming landscape. As blockchain gaming continues to evolve, mini-games are emerging as a powerful gateway to mainstream adoption.

Source: Crypto Times

Bybit and SignalPlus Announce $100,000 USDC Global Trading Showdown

Bybit and SignalPlus have teamed up to launch a global trading competition with a $100,000 USDC prize pool. The event aims to showcase advanced trading strategies while fostering community engagement within the crypto trading ecosystem.

Participants will compete across multiple trading challenges, highlighting the growing sophistication of crypto markets. This collaboration underscores the role of competitions in promoting market education and innovation.

Source: PR Newswire

The post Blocks & Headlines: Today in Blockchain appeared first on News, Events, Advertising Options.

Blockchain Press Releases

Bybit Pledges RMB 5 Million to Support Relief Efforts Following Devastating Tibet Earthquake

Published

5 hours ago

January 16, 2025

CISION (PR Newswire)

bybit-pledges-rmb-5-million-to-support-relief-efforts-following-devastating-tibet-earthquake

DUBAI, UAE, Jan. 16, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is deeply saddened by the devastating earthquake that struck Tibet earlier this week, leaving a trail of destruction and heartache.

The tragedy has claimed at least 126 lives, injured 188 people, and displaced tens of thousands as over 3,000 buildings collapsed in the remote region near the northern base of Mount Everest. In response, Bybit is committing RMB 5 million in collaboration with the Red Cross Society of China (RCSC) to support critical relief and recovery efforts in the affected communities.

The 7.1-magnitude earthquake, which struck on January 7, has caused widespread devastation, with extreme winter conditions complicating rescue operations. More than 14,000 rescue workers have been mobilized to search for survivors amid sub-zero temperatures and strong winds, highlighting the urgent need for immediate aid.

“As a responsible global leader in the blockchain industry, Bybit is committed to standing with communities in their time of need,” said Helen Liu, Chief Operating Officer at Bybit. “Our thoughts are with the survivors, the rescue teams, and the families affected by this tragic event. We hope our contribution will help provide much-needed relief and support the road to recovery.”

The donation will be directed towards essential services, including emergency shelter, medical supplies, and food aid, as well as long-term rehabilitation efforts. Bybit is proud to partner with RCSC to ensure swift and impactful assistance to those in need.

At Bybit, we firmly believe in the power of compassion and collaboration. This contribution reflects our commitment to fostering resilience and hope in the face of adversity.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: [email protected]

For updates, please follow: Bybit’s Communities and Social Media

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View original content:https://www.prnewswire.co.uk/news-releases/bybit-pledges-rmb-5-million-to-support-relief-efforts-following-devastating-tibet-earthquake-302353395.html

Blockchain Press Releases

Bybit & SignalPlus Unveil the 100,000 USDC Global Trading Showdown

Published

13 hours ago

January 16, 2025

CISION (PR Newswire)

bybit-&-signalplus-unveil-the-100,000-usdc-global-trading-showdown

DUBAI, UAE, Jan. 16, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, and SignalPlus, an innovative social trading platform aimed at democratizing options trading for digital and crypto assets, are excited to announce the Bybit x SignalPlus 2025 Global Trading Competition. With a staggering total prize pool of 100,000 USDC, this competition promises to be the ultimate stage for traders to showcase their skills and seize lucrative rewards.

From now until February 5, 2025, 8:00 AM UTC, the competition is open to all Bybit users—excluding residents of restricted jurisdictions.. This event invites participants to engage in options, spot, or futures trading for their chance to claim a share of the impressive prize pool.

“We are thrilled to partner with SignalPlus for the Bybit x SignalPlus 2025 Global Trading Competition,” said Joan Han, Sales & Marketing Director at Bybit. “This event reflects our commitment to fostering an active and vibrant trading community. Whether you’re a novice or a seasoned trader, this competition offers a platform to enhance your trading skills and earn exciting rewards.”

Chris Yu, CEO at SignalPlus, shared his enthusiasm: “Collaborating with Bybit reflects our unwavering commitment to empowering traders with cutting-edge tools and actionable insights. This competition is a unique opportunity for participants to showcase their trading expertise and be handsomely rewarded for their achievements.”

Competition Highlights

100,000 USDC Prize Pool: Compete for your share of a massive prize pool.
Daily Rewards System: Win prizes daily, with rewards credited promptly to energize your next trades.
Team Competition: The top four (4) teams will split a 7,300 USDC prize pool. Daily, one lucky team member will win a luxury 3-day, 2-night trip to Korea or its equivalent value in USDC.
Individual Competition: The top 35 winners will share 7,702 USDC, with individual prizes ranging from 30 USDC to 2,000 USDC. Daily rankings and lucky draws offer opportunities to win up to 250 USDC.
Daily Lucky Draw: Over 21 days, 129 winners will be chosen daily, ensuring that every trade counts toward exciting rewards.
Special Bonuses: Link your Bybit API to SignalPlus for a 10 USDC rebate. Complete your first Options trade on SignalPlus to earn an additional 20 USDC rebate.

For more details on the Bybit x SignalPlus 2025 Global Trading Competition, please visit here: https://announcements.bybit.com/article/-bybit-x-signalplus-2025-global-trading-competition-returns-with-bigger-rewards-win-your-share-of-the-100-000-usdc-prize-pool–blt36f0435aff9e950f/

#Bybit / #TheCryptoArk

About Bybit

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media

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View original content:https://www.prnewswire.co.uk/news-releases/bybit–signalplus-unveil-the-100-000-usdc-global-trading-showdown-302352908.html

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