A Tokenized Money Transfer Platform with Unparalleled Speed. Remittance Token ICO rating – not rated.
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PRE ICO Dates : 01/11/18 – 30/11/18
About Remittance Token ICO (token sale)
The REMCO Token Generating Platform’s APIs to allow any licensed money transmitter to mint programmable Tokens to move value and leverage distributed ledger advantages at speed and scale, while also offering innovative compensation to all transaction stakeholders.
REMCO ICO designs and provide practical and transformative technology for money transfer, especially cash transfers with the vision to transform the cash-based side of the industry, reward crucial stakeholders and add consumer convenience, control and affordability.
Remittance Token For Money Transfer Organizations
REMCO Remittance Tokens connect senders and recipients of money similar to the way mobile phones connect two people. REMCO’s ICO platform provides the infrastructure, the pipes, that allow remittance companies globally to mint and customize their own Tokens on a revolutionary open source platform designed for speed, compliance and transparency.
REMCO Remittance tokens use a revolutionary money transmission Token with an open source platform that allows remittance companies globally to mint and customize their own Tokens.
Remittance Tokens as a stored value for money transfer modernize and significantly improve-upon the cash agent model by limiting the at-agent process to providing “digital good funds”. This increases the efficiency for agents and remittance partners and speeds the process, due to zero chargebacks or denials. The appeal of this approach is that it utilizes a familiar form factor (scratchcards) to address and solve fundamental problems that remittance organizations, agents, and senders face today. The application of this method and processes are not limited to remittance only. The gift card business model can benefit tremendously also by using REMCO blockchain infrastructure to generate the gift card random numbers, distribute it as token, validate each transaction authorization and record each giftcard token usage on blockchain.
The main pain point that the processes and methods solve is a significant reduction of the time required by agents to complete a transaction. Furthermore, the RemittanceToken method allows senders to transfer money in a cost-effective manner and at a fraction of the cost they are used to while ensuring interoperability, scalability, and secured Token address generation using the multichain blockchain protocol.
Likewise, this new process assures 100% acceptance on the one hand and addresses some of the regulatory challenges of monitoring agents. The need to ensure that agents comply is a significant concern for regulators and remittance organizations, and by shifting the responsibility of “sending money” to senders instead of agents, we argue that the burden of sending money is now on senders. Regardless of the amount to be transmitted – the transfer fee is negligible per transaction, and this makes the Token process attractive to the Diaspora market. The Token process has the potential to redefine the role of agents fundamentally, which is an improvement over our current store value card process. By shifting the burden of sending money to the end users, the Token process may finally contribute to the relaxation of regulatory burden on delegate agents. The economic incentive for remittance partners is that it allows remittance service providers to spend less on agent recruitments and training and be very competitive in the marketplace. This new method of storing value and facilitating cross-border remittance also has the potential to pose a formidable competition to the existing traditional agent model. The processes and methods also assure compliance with AML and KYC requirements effortlessly.
Remittance ICO Token Sale
REMCO Software Inc. plans an ICO to fund the development of this distributed token generation project. Funds will assist towards the upgrade of the existing stored value card model to a multichain blockchain decentralized network to be licensed to VTNGlobal’s existing and new remittance partners and to extending the VTNGlobal.
The purpose of this section is to highlight important information regarding the utility token sales plan and to explain the terms and structure governing the token allocations and sales.