Topic: [ANN]REMCO : Worlds First Distributed Platform for Money Transfer - page 18. (Read 19234 times)

I think you should check out their whitepaper, they sure have all that and the team seems pretty knowledgeable with what they intend to do, which is comforting, unlike a situation where the CEO is a novice in the niche that he/she is trying to create, so they seem to have done their homework pretty well and with the backing of some notable bodies 

i have no idea they have carried out some security test i would really want to read about it do you have any link to any material video or article.

Blockchain initiated transfer? How is that going to be implemented?  I would like to know the techniques that is going to be used if any.

I believe some level of security test has been done and also being still in its early stage, more testing will be done as we progress and further developments take place

They will focus on the regions with high volumes that should get them up to speed quite quickly. From my reading they seem to have a solid experience in the area and that should alone is worth a lot. They should know how to get things rolling quickly.

Channel coming up

Here is a video
https://www.youtube.com/watch?v=OgfqCEDRcUA

Whitepaper is like blueprint for any project.  That normally have everything what team wants to do. And how it's going to work. So that should be properly documented.

I'm the founder of Remco. I'll be glad to answer any questions as best as I can.

- The main project is for money transmitters, and the infrastructure is here  ( https://remcosoftware.org ). These entities can provide the tokenized solution to their existing users through their current mobile app/online/agent outlet to any country.

Recipient of money will not know this is blockchain initiated transfer. This is the beauty of Remco! However, we are testing our mobile app, and we will release it before the end of the ICO.
Thanks

Hi,
I'm the founder of Remco. I'll be glad to answer any questions as best as I can. The past few months have been hectic. Apart from Remco project, we process payments for Western Union and many of the biggest money transmitters in the USA, in addition to mobile payment network we run.

Just to put Remco in context:
After processing $billions in value and millions in transactions for the biggest money transmitters, interacted with senders,  recipients, and agents on a daily basis over the years, we gained useful insight into the remittance business that is not very common.

While the focus is on online /digital payments (an essential feature on Remco), the agent model is still very strong regarding the volume they bring in on a daily basis.

The agents on the hand are underpaid (low commission), and they have their own business they attend to, so sending money is not their priority in most cases.

Our non-blockchain solution was deployed early 2018, designed to cut agent time by 90%. It's was an instant hit!

The soft pilot is ongoing in the states of Illinois and Georgia on a run rate of $20m by the end of 2018. We also obtained money transmitter license in the state of Maryland in September 2018.
We are not money transmitters in practice, but to demonstrate this new solution, we had to obtain the licenses.

This solution, however, is for a tiny market for now. To expand globally, the idea of leveraging blockchain was hatched, and Remco was born. We know exactly what is needed in this space and how blockchain fit into remittance.

Remittance is a very long chain of activities and each section is owned and protected by an entity including multi-jurisdictional requirements.  Therefore the blockchain solution must take all these factors into considerations to succeed.
 

Remco can accommodate an unlimited number of money transmitters, meaning that upon launch, global money transmitters can begin to mint tokens and distribute to senders in real-time. These tokens come with value and everything run on the blockchain.

There is an in-depth explanation of how this works in our white paper, including practical scenarios,  mathematics, and economics behind the demand for Remco token.

We believe that blockchain solution today is too difficult to use, so we designed Remco such that senders and recipients of money will not know they are using blockchain to send money. Recipients want instant access to the money to spend as they like.
 
How it works: When the token is used to send money, the money is deposited into the mobile wallet or bank account of the recipient in real-time in most jurisdictions. This capability is rare in the remittance blockchain model anywhere.

Also, to send $500 ($100 x 5) to five different people/relatives  today can cost up to $10 each or more= $50 fee. The token solution eliminates that because the sender only needs to activate it once and pay the activation fee which can be between $2.5-$5. After that, the sender can draw down on the entire value on the token and pay just a fraction ($0.99) or nothing depending on whether the money is deposited into a mobile wallet or bank account.

All these attributes are programmable by the remittance partners.
 
Finally, Remco was formed out of conviction after processing millions of transactions.

Thanks

Ya I’ve seen those but I think it’s important the team spin up their own channel and post things like interviews and ads and reviews to it and start building a subscriber following as it’s a great market to get investors

I have read about REMCO. I am interested in REMCO's features in transferring money. Especially the issue can provide the possibility of bonus commission based on the sender option for the agent. Does the plan have incentives for special senders such as large deposits or loyalty?

They seem not to have a special YouTube account but on a closer look and search on YouTube you will find couple of review videos about Remco for instance this https://www.youtube.com/watch?v=Fn3cCLm76tk

I will say in order for a project to meet up standards, they must ensure to have a good backing like having an experience team with good track records. This alone tend to boost the confidence of potential investors. Shows how determined and focus a project is.

A lot of people prefer videos that explain the project instead of reading the whole whitepaper, does REMCO has such video's?

I did not see any YouTube account on their homepage either.

Have to agree doing translations into additional languages is a good step towards building a truly international project while a lot of people speak English more speak other languages

yeah, i believe whitepaper is the first document any serious investor would go through like you said i urge them to place serious emphasis on it. they could translate it to many more language

You're right, the duration means a lot to the project and i hope to see it affect the project positively, in fact it will, what's the essence of rushing when the goal can not be reached because of the situation of the market but i believe things are about to change in the blockchain industry, for financial institutions to be partnering with this brand simply means that they believe in them

According to the REMCO bounty thread, the German translation is already reserved. So it will probably be added soon to the website once the translator has finished his work.

I just see that there are already many translations of the white paper. Unfortunately the german version is missing. I hope it is currently in the works and will be published soon. Until then, I stay with the English version
I read in the Whitepaper about mining for permitted User. Does anyone know how to get this permission?

It is indeed smart move especially in this bad market condition. May be when market goes up and be stable, things will change drastically and smart ICOs like REMCO will get its attention in the first instance.