Remiit - Decentralized Remittance And Payment Platform

Today I will introduce one of the overseas money transfer platforms with a commission fee 80 ~ 90% cheaper. This platform is Remiit, let's see my explanation about Remiit.

Introduce 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.

Remiit Ecosystem

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

REMIIT Platform Blockchain Adoption

The 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 will 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.

How To Work Remiit

The diagram above depicts the process of remittance 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.

2 Tier Token System

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.

Remiit ICO

Roadmap

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Bitcointalk Username: Kartika1
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