REMCO: Blockchain Money Transfer System

What Is REMCO?

Remco, where you can find at https://www.remittancetoken.io/, is a powerful distributed token-generating platform for Money Transfer that features unparalleled transfer speeds designed for licensed money transmitters. Remco is integrated with advanced technology to provide money transmitters, customers, and agents with a ledger solution that will solve all the transaction issues that participants may face. 

Remco will solve some of the major challenges facing the cross-border international money transfer business. The challenges include lack of consistent standards and regulations, significant variation in prices, and poor record keeping of the transactions.

The REMCO platform will provide APIs to enable licensed money transmitters to mint and customize tokens to move value. The team claim their REMCO Remittance tokens will directly connect sender and receiver, similarly to how mobile phones connect people – almost instantly, cheaply and conveniently no matter the distance between them.

The REMCO token address will store the value removing the need for traditional card pins or numbers. The Remittance Token will operate on a private network employing a programmable token to transfer money. 

In addition, The REMCO solution will allow companies to issue their own customizable digital tokens that can be used for transparent and secure value transfer while also being 100% regulatory compliant and distribute them to agents or end users. REMCO also utilizes multi-chain technology which enables to create a blockchain network scalable enough to operate on a planetary scale.

How REMCO Works?

Remco platform have the ability to transfer value and utilize the advantages of distributed ledger at speed and scale. The Remco tokens utilize a multichain and a distributed ledger to provide users with fast and low cost money transfers while reinventing agent processes. The tokens will provide compensation to all the participants in the transaction. 

The Remco blockchain will be responsible for minting programmable Remittance Tokens at the request of the money transmitters on the platform. The remittance partners will be allowed to program the tokens with various denominations and currencies. They will also distribute the minted tokens to senders online or through the agents found on the Remco network and the process will be repeated.

Once the sender receives the tokens, they can use them to transfer them to other recipients such as their bank accounts, mobile wallets, or transfer them for pickup at an agent. The funds represented by the token can be distributed among multiple recipients in a cost efficient manner. After the recipients receive the money, the remittance token can be customized to pay for various bills such as utilities, taxes, school fees, and rent among others.

To enable monitoring of the tokens, the Remittance Tokens are integrated with inbuilt monitoring mechanisms that track the number and value of the tokens sold and each transaction the token has been involved in. The mechanism can also track the card usage and the commission each agent should receive.

REMCO Advantages

For Remittance Companies

The platform will provide remittance companies with the opportunity to mint tokens, define the characteristics of the tokens, and distribute the tokens to the users directly or to their agents. In addition, the token can be used to recharge bank or mobile wallets globally.

For Agents

Remco will reduce by up to 90% the time that senders spend while earning the agents token activation fees using less effort. The agents can also earn token usage fee commissions through the entire lifespan of the token.

For Consumers

Consumers can send multiple transactions affordably with the assurance that the transaction will go through therefore the consumers will not need to wait for agent or MTO confirmations since the money will go directly to the recipient.

REMCO Token and ICO Details

REMCO token built on top of ERC20 compatible on Ethereum Blockchain.  REMCO plans to issue 2,000,000,000 REMCO tokens. 65% of the total supply is going to investors. 15% each is going to the founder team and advisors. 5% is going to marketing plan. Another 5% is going to REMCO business partners, the rest 10% is reserved.

The REMCO Public Sale is scheduled for December 1st, 2018 to March 31st, 2019 (or earlier). The tokens will be priced at 0.08 USD.

The Team Behind REMCO




You can get more detail information about REMCO by visiting the following links: WEBSITE, ANN THREAD, TELEGRAM, TWITTER.


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