ETHA Remittance Platform is the first remittance platform designed to use the blockchain technology that will work as a decentralized operation system, which will join together decentralized with centralized resources on the same platform that will enable fiat currencies transfer with digit currencies. The platform framework will enable the ETHA to their users and businesses in various countries and regions over the world to provide financial services in an effective way.
ETHA have put the following constructive factors into consideration to enable them to access a higher level of a decentralized platform; faster transmission speed, accessibility, digital transformation and the utilization of the cryptographic technology on a distributed ledger. The incentive of these innovations produces new ecosystems, changing the way the privacy protection issues, transparency and autonomy will be handled.
The executed framework and the operational platform is designed with the user-friendliness and the security in mind. There will be easy interface accessibility to an open financial system, helping entities and consumers across the world. Additionally, partnerships with key allies will let their internal system to seamlessly join with third-party platforms, advancing the reach of our technology solution and its underlying ETA Token.
PROBLEMS AND SOLUTIONS
ETHA team decided to design this platform after highlighted the problem in which customers or clients face during finance remittance so that they can put final solutions the problem so as to put smiling face to its users. The current remittance and payment system are created on an old-fashioned with higher fees and transaction delays, which no longer serving the purposes of its customers base. The categories of problems and their solutions are here below;
There is no support for crypto to fiat transfer
There is currently not a single remittance service provider that supports digital currency as a payment option nor as a means to send money abroad. The remittance and finance industry hasn’t built a working operational platform where cryptocurrencies can be used as a means to use SWIFT, local cash payout or mobile top up.
High transaction fees and lack of transparency
Sending money through conventional remittance is very expensive because of makeup prices transaction proceeds between the remittance and financial institutions. Besides the excessive fees of transferring the money, it is very difficult for both the sender and receiver to track the money with this traditional remittance and as a result, there is a lack of transparency. ETHA has come to correct these problems through a blockchain middleware that would let smart contracts access to off-chain data feeds and APIs that will validate and implement a bank transfer or any other action that may be desired to streamline between smart contracts and key off-chain resources of the platform at a very lower price.
Limited access to financial services
About 2.5 billion or almost 40% of the world adult population don’t have a formal bank account or have access to affordable financial services. They are facing enormous risk and higher costs in their everyday life and they have only the alternative to be forced to rely on cash and informal financial markets. And this will also undermine the government’s capability to receive taxes from them.
Through the ETHA platform, it will very easy for any individual that is of full age to have access to any financial service of their choice.
Vulnerable security infrastructure
There are a lot of exchanges that have been forced to shut down as a result of poor security measurements; they have lost billions of dollars of their customers or investors’ money. Cybersecurity has been a major concerned till day in the world of crypto exchanges and their users will have to fight with. Also, hackers are looking for ways to bypass security architecture every day.
ETHA platform has a very solid security architecture that you can’t break through and it will be subjected to regular audited and penetration tested.
Incompetent in the technical architecture
The Scalability problem of platform systems sustains a series of problems like delay in transaction implementation, deposits, withdrawals and alternative transactional errors, which can result in the price drop. The ETHA platform is a standard platform that will handle the issues of delay in transactions.
Inadequate of market liquidity on decentralized exchanges
One of the main problems that are currently confronted by users of conventional decentralized exchanges is the poor market liquidity that causes delays in order implementation. Additionally, wallets can also be hacked on DEX.
The ETHA Network platform has a very strong security structure that will make it unable to be prone to hackers. Been the first remittance blockchain, the platform operations will be in over 190 countries, and with collaboration with over 50 crypto exchanges will make the liquidation be very high.
Onboarding challenges for new users on exchanges
Newcomers always face a lot of challenges in the crypto space and as result, they easily give us because of lack of support and prompt help when they request for it from exchanges. This has slow down the mass adoption of cryptocurrency. All of these have been taking care of by the Etha platform team.
You can see the reasons why this project is very important to us as individual and corporate enterprise businesses for remittance purpose and Lending. This is a great project with a lot of benefits that will solve a lot of problem in real-time remittance, security, lending and crypto and fiat exchange in the world in general. Supporting this project as a contributor or a partner will go a long way of actualizing these great innovations. The Initial Coin Offer (ICO ) is currently ongoing, you can visit the website to make your contributions. The team is well able to land this project to it Promised Land. They are all professional and highly experienced in their field of endeavour that is related to help this project succeed. They are doing wonderful jobs to make sure that the project is successful.
Website: https://etharemit.org/
Whitepaper: https://bountyminer.io/admin/upload/BountyPDF/778218_1546757568.pdf
Telegram: https://t.me/etharemit
Author Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1077036