Remittances are playing an increasingly large role in the economies of many countries. They contribute to economic growth and to the livelihoods of those countries. According to World Bank estimates, remittances will total US$585.1 billion in 2016, of which US$442 billion went to developing countries that involved 250 million migrant workers. For some individual recipient countries, remittances can be as high as a third of their GDP. However, Remittance is defined as money transferred by migrant workers who send funds back to their family - typically in developing markets. This market is significantly underserved, forcing the “unbanked” population of the world to pay inflated money transfer fees to support loved ones they rarely see. Although Blockchain technology can be used to reduce the cost of remittances according to research.
ABOUT REMCO
Remco as a platform has conceived and birthed this idea of bringing solution to some of the major challenges facing the cross-border international money transfer business. The challenges include lack of consistent standards and regulations, significant variation in prices, and poor record keeping of the transactions. Remco is a money transfer platform based on blockchain that is designed for speeds transfer licensed money transmitters. Remco is integrated with advanced technology to provide money transmitters, customers, and agents with a ledger solution that will solve all the transaction issues that participants may face. According to the research conducted by VTNGLOBAL ; when it comes to traditional methods of sending money, Remco is ten times faster and affordable.
FEATURES OF REMCO
The REMCO token proposes a semi-centralized model to disrupt the money transfer market.
Remco enables rapid transaction confirmation standards which is paramount to money transmitters’ customers
Remco model empowers any authorized money transmitter to mint their own programmable tokens powered by REMCO’s underlying technology.
Tokens are transparent to end customers and acceptance is simple, enabling authorized remittance organizations to scale their businesses affordably, securely, and without hassle.
Sender No longer waiting for batch processes or other slow payment processes.
Remco has simplified the transaction process for agents and have even offered bonus commissions based on the sender’s preferences.
Diagramatical illustration of how remco works
REMITTANCE Token
The Token is ticked as REMCO TOKEN. It is ERC20 compliant; it is created on Ethereum blockchain. The platform will distribute its REMCO tokens through ICO. 1REMCO TOKEN will be sold at USD$0.08. Accepted currencies: ETH, BTC, BCH, VCASH.
The ico
Now, the ico of the project is scheduled to begin on the 1st November, 2018 and is going to run until 20th November, 2018. The project seeks to raise a total of Soft Cap: 6000000 USD Hard Cap: 60,000,000 USD.
“In my opinion, with this great idea of remittance token platform, in the future remittances will be commoditized and become free so nobody makes money on them. The trick will be to monetize the customer through other products such as loans and microfinance; remittances will just be an anchor product.
This is a great opportunity presented to you, do not miss it. Just give a click on the website: http://www.remittancetoken.io/and grab some tokes for you self.
For more information visit:
Website: http://www.remittancetoken.io/
Whitepaper: http://remittancetoken.io/WhitePaper.aspx
Telegram: https://t.me/remittancetoken
THREAD: https://bitcointalk.org/index.php?topic=4983198.new#new
Twitter: http://twitter.com/RemittanceToken
Facebook: http://facebook.com/remittancetoken/
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