Remyt: make the process of money transfer simple and fast


Remyt is a decentralized peer-to-peer application platform, which provides an ecosystem where users have one wallet that enables them to send funds across borders.

Currently, the money transfer market costs more than $ 500 billion, but for the high profitability and popularity of this niche, there are still a number of problems present in the industry. Issues such as high commissions, lack of transparency, duration of operations, still put their shadow on the popularity of the platform for remittances.

Banks are responsible for major remittances in the world, but there are three dominant operators in the non-bank sector: Money Gram, RIA and Western Union. They operate about 1.1 million retail locations in 200 countries. However there are other players in the industry like: Currencyfair, Xe, world remit, transferwise etc. Remyt aims to decentralize remittance processes using blockchain technology by offering the cheapest fees, transparency and instant access.

How it will work (steps)?

  1. Select an agent in your country of origin/location
  2. Enter amounts and destination country.
  3. See fees
  4. Enter Recipient details
  5. See summary of the transaction
  6. Pay to the agent in your country of origin/location
  7. You can cancel for a full refund within 30 minutes of payment, unless the funds have been picked up or deposited
  8. You and the recipient will get an SMS and email when the money is sent and received (usually the recipient receives the funds within 30 minutes to an hour)
  9. Investment Opportunity in Remyt
  10. Earn daily from our Crypto Investment Program (CIP): Interest is paid daily to investors. (Terms & Conditions apply)
  11. Earn commission in our Remyt Partnership Program (Terms and conditions apply)
  12. Affiliate: Earn bonuses when you participate in our ICO, bounty or invite others to join via your referral link. (Terms and conditions apply)
  13. Trade: Earn profit from trading Remyt Token.

Prospects :

  • According to World Bank’s Migration and Development Brief, released 3rd October, 2017 which provided regional remittance trends as outlined below:
  • Remittances to the East Asia and Pacific region are expected to rebound by 4.4 percent to $128 billion in 2017, reversing a decline of 2.6 percent in 2016.
  • Growth in remittances to the region will be a modest 3.4 percent in 2018 to $132 billion. After declining for three consecutive years, remittances to countries in the Europe and Central Asia region are expected to grow by 8.6 percent to $43 billion in 2017.
  • Going forward, the economic recovery in Russia, continued recovery in Kazakhstan, and increased employment in the Euro Area imply a more positive outlook for remittances for the region, which are expected to grow by a robust 6.8 percent to $46 billion in 2018.
  • Remittances to Latin America and the Caribbean are expected to increase by 6.9 percent to $79 billion in 2017. Economic growth and improvement in the labor market in the United States is having a positive impact on the outlook for remittance flows to Mexico, which will receive a record $31 billion this year. Growth in remittances has been particularly strong in Central America.
  • However, growth in remittances to the region will moderate in 2018 to $82 billion. After two years of decline, remittances to the Middle East and North Africa region are expected to grow by 4.6 percent to $51 billion this year, largely driven by strong flows to Egypt, the region’s largest recipient, in response to the devaluation of the Egyptian pound.
  • Remittances to India, the world’s largest remittance recipient, will grow by 4.2 percent in 2017 to $65 billion, following a decline of nine percent in 2016.
  • Flows to Pakistan are expected to remain flat this year, while Sri Lanka, Bangladesh and Nepal will see a decline. Remittances to the region will grow by a weak 2.6 percent to $114 billion in 2018.
  • The region is also host to a number of countries where remittances account for a significant share of GDP, including Liberia (26 percent), Comoros (21 percent), and the Gambia (20 percent). Remittances will grow by a moderate 3.8 percent to $39 billion in 2018.

Token sales & details:

Each Remyt Token is backed by 0.01g of physical Gold for a start, held in multiple secure storage facilities. At the end of every financial quarter, 20% of total profits will be used to procure more gold thereby increasing our gold reserve. Every half-year the gold reserve will be audited by a third party audits whose report will be made available to token holders.

Roadmap:

Learn more:

  1. Website: [https://remyt.org/]
  2. White Paper: [https://remyt.org/whitepaper.pdf]
  3. ANN: [https://bitcointalk.org/index.php?topic=3179339/]
  4. White Paper: [https://remyt.org/whitepaper.pdf]
  5. Facebook: [https://web.facebook.com/remytproject/]
  6. Twitter: [https://twitter.com/remytproject]
  7. Telegram: [https://t.me/remytproject]

Author: [https://bitcointalk.org/index.php?action=profile;u=97952]


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