Currently, the money transfer market costs more than $ 500 billion, but for the high profitability and popularity of this niche, there are still a number of problems present in the industry. Issues such as high commissions, lack of transparency, duration of operations, still put their shadow on the popularity of the platform for remittances.
Remyt is a decentralized peer-to-peer application platform that provides ecosystems where users have a wallet that allows them to send cross-border funds. Remyt will help make the process of transferring money from abroad to your relatives and friends very quickly and easily.
Today the remittance market is worth over $500 billion, but it is still faced with derisking, high fees, insufficient transparency, Increase in settlement time, which threatens to make it more difficult for many to send and receive money.
Banks are responsible for major remittances in the world, but there are three dominant operators in the non-bank sector: Money Gram, RIA and Western Union. They operate about 1.1 million retail locations in 200 countries. However there are other players in the industry like: Currencyfair, Xe, world remit, transferwise etc. Remyt aims to decentralize remittance processes using blockchain technology by offering the cheapest fees, transparency and instant access.
The proportion of the remittance industry is more than $500 billion the goal of Remyt is to penetrate 5 percent of the market by the end of 2022.
REMYT is a decentralized peer-to-peer application platform, which provides an ecosystem where users have one wallet that enables them to send funds across borders. Remyt will make the process of money transfer by a foreign worker to an individual in his or her home country simple and fast.
Opportunities and advantages:
- A Remyt token backed by 0.01g of physical gold for a start, to secure your
funds while you use our services - An investment mechanism to enable you make additional income towards
meeting your dream financial goal - An ecosystem that enable Money Transfer Operators, Cryptocurrency
traders/professionals to partner with Remyt.
To date, there are 3 main companies that dominate the money transfer market: Money Gram, RIA, and Western Union. They employ approximately 1.1 million sales outlets in 200 countries. However, there are other players in the industry, such as: Currencyfair, Xe, Remitatsiya world, transmissions, etc. Remyt is aimed at decentralizing the remittance process using blockchain technology, offering the cheapest rates, transparency and instant access.
Remyt token:
Remyt will issue an ERC20 Remyt Token (XRT) for its ICO, which will be utilized as a medium of exchange in the Remyt Ecosystem.
Remyt Pre-ICO will begin on April 1, 2018
ICO will begin on April 23, 2018 and finish on July 6, 2018.
During the ICO period, 5,000,000 memories will be sold in 5 rounds of 1 million each.
Each round will last 7 days from the date of first reception. ICO price will increase every round by $ 0.1. The price for ICO is $ 0.50 per token (only 100,000 replica tokens will be sold in just one day based on the first receipt)
The roadmap:
Important links:
- Web: https://remyt.org/
- White Paper: https://remyt.org/whitepaper.pdf
- VTT: https://bitcointalk.org/index.php?topic=3179339/
- Bounty VTT: https://bitcointalk.org/index.php?topic=3370862.0
- Facebook: https://web.facebook.com/remytproject/
- Twitter: https://twitter.com/remytproject
Author:https://bitcointalk.org/index.php?action=profile;u=2128735
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