Remiit

Hello Crypto World. Here's a thing, if you needed to send fiat currency from one country to another, where would you go to get this processed? Well, under many circumstances, many people choose to use banks or well-known money transfer operators like Western Union or Moneygram because it is important to go through a trusted institution to manage personal funds. Right, Trust is aspect number one if we talk about money. But, banks or well-known money transfer operators, Not only was this a high commission fee, but it also consumed days to complete the transfer. However, many fintech companies began to appear providing fast and affordable remittance services. The fees become 80~90% cheaper than the banks with time taken reduced to under 10 minutes.

How is this possible? i mean 80~90% cheaper with time taken under 10 minutes! Can you imagine that? But well, The answer is cryptocurrencies. Early this year, cryptocurrencies which were a major measly cause of speculation was in fact a suitable tool for conducting remittances overseas, therefore many fintech companies have been providing services through it.

In the case of overseas remittance through the bank, it must go through “Remittance Bank -> Intermediary Bank -> Disbursement Bank”. In addition to the commission paid to each bank in the process, there are telegraphic fees and exchange fees. However, overseas remittances using cryptocurrencies do not go through intermediary banks, so there is no exchange fee and you only have to pay a transfer fee of 1~2% of the remitted amount. The answer is REMIIT

REMIIT is a Blockchain Powered Remittance and Payment Platform that connects various businesses and users through a trust-based Smart Contract System. REMIIT endeavors to allow business scalability of businesses in the Money Transfer Sector and provide users with a cheap and transparent process with value stability through the 2-Tier token system.

REMIIT provides a smart contract named Remiit Smart Contract (RSC), which is optimized for overseas remittances applying various situations and algorithms. The first step supported by REMIIT is to provide a variety of RSC distributions and UX (User Experience) which allows business users and general remittance users to easily participate in the RSC process.

We all know that these days money transfer and payment sector is not as friendly or open to the current adoption of decentralization and P2P interactions. However this area of services are the most crucial aspects that should be adopted by the blockchain. Through the blockchain and smart contract technologies, REMIIT is gonna ensure to be the benchmark of blockchain adoption where the blockchain can be used for actual business services working with pre-existing Money Transfer and Payment Providers.

REMIIT has designed the REMIIT Smart Contract (RSC) to make the process to scale efficiently. Each partici-pant in the REMIIT Ecosystem are placed at the center of the business relationship. To do this, the REMIIT Smart Contract (RSC) with the REMIIT Payment Gateway Protocol (RPGP) have combined to expand to "payment" through the remittance platform. With this infrastructure of these ecosystems, each participant can create a variety of channels to overcome existing problems. Ultimately, the limitations of the previous foreign exchange ecosystem will be overcome by various channels, the market will expand, and the business will grow

As we can see on Diagram above, the process of remittance is based on RSC . The next step is to connect overseas payment with the RSC, following the active functioning of the RSC network. For this, REMIIT provides the Remiit Payment Gateway Protocol (RPGP), which make the payment process more transparent. Not only does RPGP help users to make an overseas payment and choose and see the various fees involved, it also enables remittance companies to expand their business to a new sector.

The Two-Tier Token System: REMI & REMD
Crypto Limitations Due to Price Volatility of Tokens : Risk Bourne to Service Providers

REMI-REMD 2 Tier Token System To prevent rapid value fluctuation and ensure smooth overseas remittance.

REMI is the token traded in exchanges and performs a utility role that converts to REMD. REMD is the token which is used in the overseas blockchain remittance system. REMD Decentralized Exchange: In our overseas remittance system, there exist imbalance of the REMD ow in the amount Linkers hold. Thus, the internal exchange that the Linkers could voluntarily trade their overs and shorts by using other cryptocurrencies has been designed. By using this mechanism, the liquidity problem can be solved autonomously.

Right now REMIIT Private Sales is ongoing! You can join their private sales by contacting [email protected] for more further information you can join their telegram on https://t.me/remiit and kakaotalk on https://open.kakao.com/o/gx2t3jU

🚀Token: REMI
🚀Pre-ICO: Mid Oct ~ Mid Nov
🚀Main ICO: Mid Nov ~ Late Dec
🚀Platform: Ethereum
🚀Type: ERC20
🚀PreICO price: 1 REMI = 0.01 USD
🚀Price in ICO: 1 REMI = 0.01 USD
🚀Tokens for sale: 2,400,000,000
🚀Soft Cap: $5M
🚀Hard Cap: $20M

Disclaimer
*This is just short introduction article about Remiit by Kingsraid, for further information you can always read their whitepaper on https://remiit.io/static/remiit/images/Whitepaper_REMIIT_Eng.pdf or join their telegram on https://t.me/remiit

More Information About Remiit Visit Link Below
Website: https://remiit.io/
Whitepaper: https://remiit.io/static/remiit/images/Whitepaper_REMIIT_Eng.pdf
Telegram: https://t.me/remiit
Facebook: https://www.facebook.com/remiit.io/?modal=admin_todo_tour
Twitter: https://twitter.com/remiit_ico
Medium: https://medium.com/remiit

Author
Bitcointalk Username: Kingsraid
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1936096
ETH Address: 0x2611c981AdAb7109E26D0C1798e7B7F20764d5A3