This blockchain-based remittance platform connects worldwide MTOs. Based on the information published on their official site, the REMIIT reputation system evaluation, which is a key platform feature, lets the operators focus on the remittance business with other MTOs or partners, thus enabling secure transfers. The public ICO will take place between October and November 2018.
The vision of REMIIT project also enables MTOs in the world to have their operations expanded in countries and thus grow as a trusted remittance operating player in the market.
The main aim of Remiit is to disrupt the whole of the global remittance market using the blockchain technology, through the REMIIT smart Contract (RSC). This platform is configurable in addition to being optimized for the remittance service. The platform allows remitters to experience transparent processes when using the REMIIT system.
For the service to expand up to payment, the platform includes the REMIIT payment Gateway Protocol, which is an innovative system added to the REMIIT Smart Contract System. The payment provider will then be able to do the diversification of their business, and they will be able to overcome the problems that they would not have overcome previously.
What REMIIT Blockchain Remittance Payment Platform Offers
The Remiit system will be a catalyst of globalization by decentralizing the remittances and payments. The REMIIT system will create the remittance systems and the current payment systems more open and transparent. It will also allow money transfer operators (MTOs) and the financial institutions to create a community of cross-border remittance, with a guarantee of trust and good reputation.
Remiit is built on the blockchain platform, and it will be able to connect every MTO in the world. They have a system that evaluates the reputation, which is a key component of the project. This evaluation enables the operators to do their remittance business with the other MTOs in the world securely and safely.
How REMIIT Works
- RSC (REMIIT Smart Contract) – The RSC system gives affordable fees and expanded networks for all the participants who may be using remittance services.
- Issuance Of REMI – REMI is a token used within the platform to make the whole of the REMIIT ecosystem robust and active.
- RPGP (REMIIT Payment Gateway Protocol) – The providers use this interface for payments through the system.
- The Algorithms are optimized for remittance
- The escrow service is used for various participants of the process
- The systems user interface is friendly and easily configurable
- It has an RSC communication channel
- The RSC store—for data storage
To begin with, the system runs on the blockchain platform, thus it is transparent and secure for all the participants. The participants in the system are evaluated regarding reputation, helping to flush out possible frauds in the system. Importantly, the optimized algorithms make the process fast and easy. Besides, it is cheap and affordable to use.
The team behind the REMIIT system is a great one with vast experience to propel it forward. The users of the system can manage the credit ratings that are generated from the blockchain transaction, allowing them to manage their credibility and enjoy several other benefits. Users will equally be able to use the REMI wallet as a payment means by itself directly.
REMIIT REMI Token ICO Details
Parameters Of The ICO
- Token Symbol: REMI
- Pre-Sale Date: September 2018 – October 20/18
- Main ICO Date: October 2018 – November 2018
The private sale for the REMI token is live now. You can contact them at [email protected] for more information on their private sale.