It is estimated that by 2017 international remittances to low and middle income countries will reach $485 billion.
The huge remittance market has been a tempting prize of digital currency developers.
The benefits of crypto for people sending funds back to their family are significant. Crypto sits outside the regulatory controls of government. Funds can be transferred extremely quickly and potentially the transactions costs are very low.
While providing obvious benefits crypto has failed to be widely adopted by people sending funds back to their home country.
One of the major hurdles has been volatility. Cryptocurrencies like Bitcoin move up and down extremely quickly. This means it is difficult for people sending fund abroad to be confident about the exchange rate that will be used.
By the time the funds are back in their home country the amount might be quite different to the amount they originally sent.
A number of different digital tokens have aimed to develop a solution to this problem. One of the most interesting is the Send Protocol.
The Send Protocol is a semi-stable digital token. It creates for a set period of time a fixed price for the token. This gives users predictability about the price for that period of time. This in turn addresses the challenges that users face when using crypto for remittances.
The actual price set is based on the current transaction volume and liquidity in the network. Unlike other solutions this means that the Send Protocol is based on real world usage of its network.
SDT Token
SDT Token is the native token of the Send Protocol. It is being distributed in a one year long token sale beginning in the third quarter of 2018. The starting price for SDT will be $0.20 and it will escalate in price until it reaches a maximum price of $20 per token. Unsold tokens are being burned on a daily basis.
You can learn more about the SDT token sale by visiting:
Send Website: https://www.sendprotocol.com/
Send Whitepaper: https://www.sendprotocol.com/documents/whitepaper.pdf
Send Twitter: https://twitter.com/sendprotocol
Send Facebook: https://www.facebook.com/SendProtocol/
Send Telegram: https://t.me/joinchat/F3htKg7MOesED8NTNBHn9A