Transmission, found online at Tmission.io, is a payment platform that lets you send and convert currencies directly with minimal fees. Here’s our Transmission review.
What Is Transmission?
Transmission describes itself as “the platform for fast and reliable worldwide multi-currency transactions.” The platform lets you send and convert currencies directly “free of charge” (although it appears the company plans to charge a 1% fee).
Transmission will be available through a mobile app for iOS or Android. The company’s ICO is scheduled for the end of August and beginning of September, with an alpha release and full version release expected for Q3 and Q4 2018.
Essentially, Transmission is a multi-account and multi-currency platform that emphasizes strong security and low-cost transactions. In one Medium post, the founder claimed the platform could be the “Uber in world currency transfers.” Let’s take a closer look at how Transmission works.
How Does Transmission Work?
Transmission allows multi-currency transfers between networks.
Let’s say, for example, that you need to send Ether from the US to China. The recipient needs to receive the currency in CNY with a cost less than 1%. Transmission makes it easy to do that at a low rate.
Typically, cryptocurrency money transfer services seem to charge rates of 1%. However, Transmission compares itself to bank transfers – which charge rates as high as 10% – or online money transfer services like PayPal, which charge rates of 3 to 5%.
Transmission works in a different way. Transmission recognizes that funds already exist in your country. Instead of creating money in say, CNY, Transmission gives you access to money that already exists. You can make transfers through the use of Transmission’s digital currency.
Transmission also makes numerous mentions of the “Uber” model. Transmission wants to be the Uber of global money transfers. What does that even mean? The company sees itself as an aggregator like Uber: while Uber aggregates drivers with free space in their cars, Transmission aggregates money transfer providers.
Transmission advertises all of the following features:
Transmission allows multi-currency transfers between network users at a rate of about 10%.
Manage All Transactions From One Account:
The personal multi-account dashboard supports all popular currencies and payment systems. Users get a complete overview of balance statistics and transaction history. Users can request orders easily and schedule regular transactions.
Security, Transparency, And High Speeds:
Transmission claims that its transactions occur quickly and securely. Users can always check the status of transfers through their Transmission personal account.
Transmission has offices in Geneva, Hong Kong, and Palo Alto. It tests its platform at all of these locations. In the near future, Transmission plans to open branches “in more than 5 countries.”
Who’s Behind Transmission?
Transmission is led by Mike Gorden (CEO), an entrepreneur and investor who participated in the development of OnPlace Inc and has worked in several industries as an analyst and communicator. Other key members of the team include Rama Rao (CTO), who worked with financial institutions like JPMorgan Chase and IEG, as well as Jack Carter (CFO), who has 15 years of experience in banking, insurance, and investment services.
By January 2018, Transmission hopes to deploy its technical infrastructure while opening more offices in Asia, Europe, and North America. The alpha version of Transmission will be launched in Q3 2018, with a fully functional version launched before the end of the year.
The TMN Token Crowdsale
The Transmission token crowdsale is taking place throughout August and September. The tokens will be supported by a specially-created fund. That fund will hold 50% of commissions from network transactions, then distribute those commissions to token holders.
The TMN token pre-sale is scheduled to begin on August 25, 2017 at 00:00 GMT and last for 24 hours. The full public token sale will take place on August 30 and last for 10 days.
The total supply of TMN tokens is fixed and has been pre-mined (no tokens will be available through mining). There will be a total supply of 495.5 million tokens.
Transmission is an international money transfer service. The platform, like most cryptocurrency transfer services, promises low fees of 1% and easy transfers into local fiat currencies.
The alpha version of Transmission won’t launch until nearly the end of 2018, with a fully functional platform expected before the end of 2018. Despite the lack of an alpha, Transmission has an ICO scheduled for the end of August and beginning of September.
You can learn more about Transmission, or participate in the token sale today, by visiting the company online at Tmission.io.