The changing technology has also changed the advent of international money transfers. The advancements in the technology has made it very easy to transfer money from one person to another without the country barriers. Even with the evolved technology we still not have perfect solution. We still rely on our traditional banking systems to make payment transfers, which charges high fees, has lack of transparency and takes long time to process transactions.
Even though the new technologies arrived, the remittance industry is still working on the same principles. Remittance industry is heavily rely on agents, since these agents creates a physical network which provides a face of trust to the customers. Agents collect money from customers and initiates money transfer through remittance system. Loyalty commission plays an important role; since the remittance company which provides highest commission; agents recommend that company to customers.
In order to change this situation a new platform REMCO will helps to make financial transactions securely, transparently and at low cost.
Project objective
The main aim of the project is to provide a software system for existing banks and international remittance payment providers with which they can make faster, secured and transparent payments through virtual currencies.
About REMCO
VTNGlobal is a financial payment and business process company which manages international payments, based in USA and Nigeria. VTNGlobal is a leading remittance industry which has already processed more than $700 million of payments in past two years. It is a licenced company to make international money transfers and mobile payments. In order to make faster, reliable, secure and transparent payments the company created a digital remittance token called REMCO.
Principle of operation
REMCO allows every remittance payment processing industry a software system which allows them to mint their own remittance coins for financial transactions with rapid scaling.
In this new system, agents are still there as like in earlier models. Instead of collecting cash and sending the value from remittance system. Now agents will provide scratch cards in the exchange of cash. Here the scratch card represents tokens of equal value to the cash. These tokens used to transfer payment value in the transactions. This reduces the agents efforts to complete a transaction.
All the operations will be carried out through web and mobile applications. Tokens represent actual cash value which provides secure, transparent, faster and low cost payment transfers anywhere around the world. Users can send payments with multiple recipient's at a single time. Users can easily monitor their transactions from their personal account.
The platform uses REMCO cryptocurrency tokens for all it's payment operations.
Benefits of REMCO
• REMCO software system easily adoptable with the present remittance systems for tokanized payments
• Remittance tokens provides faster, reliable, secure, transparent and scalable payment solution
• REMCO runs on decentralized multi blockchain to provide quality services
• REMCO doesn't requires any miners, thus every payments including micro payments will be of lower costs
• REMCO tokens provides quantum proof security
• REMCO payment solution provides bonuses and commissions for agents
ICO details and timelines
• Token ticker: REMCO
• Token release: 2 billion
• Available for sale: 65% of 2 billion tokens
• Token price: $0.08
• Public sale: December 1 to March 31
• Softcap: $6 million
• Hardcap: $60 million
Token distribution
Conclusion
There is no doubt that this project is genuine and is already providing services in USA and Nigeria. It will surely revolutionize the remittance industry. With REMCO systems every remittance industry can easily adopt and use their own digital remittance tokens for payments. Thus people will get faster, secured and transparent mode of payments at lower cost. Moreover the VTNGlobal company is presently engaged with Western Union in USA for payments. It already has license for international money transfers and mobile payments. It is really a promising project to invest.
Learn more about REMCO:
Website: https://www.remittancetoken.io
Read Whitepaper: https://www.remittancetoken.io/assets/REMCO_White_Paper.pdf
ANN thread: https://bitcointalk.org/index.php?topic=4983198
Telegram: https://t.me/remittancetoken
Facebook: http://facebook.com/remittancetoken/
Twitter: http://twitter.com/RemittanceToken
Medium: https://medium.com/@peterojo
LinkedIn: https://www.linkedin.com/company/remittancetoken/
Reddit: https://www.reddit.com/user/remittancetoken/
Instagram: https://www.instagram.com/Remittancetoken/
Slack: https://remittancetoken.slack.com
GitHub: https://github.com/Remittancetoken
About Author:
Bitcointalk username: Abhijeetcg
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1676105;sa=summary
ETH address: 0x96e95a1F40cf5a50178053740ADE18046815362d
