REMCO TOKEN

Introduction

Since the advent of international remittances, much has changed and much has stayed the same.Although current attention is largely being given to purely digital remittance industry disruptors, for the vast majority of senders a physical agent network is very vital to the overall process. Even with the advent of online money transfers, a remittance company cannot be competitive at scale without a good network of agents. Agents help the remittance service providers by providing a public face to senders and recipients of money in their communities. Agents collect money and submit transaction details using the system provided by the remittance organizations; they initiate money transfers.

VTNGLOBAL INC. proposes to reinvent this process. Agents will still be there but their duties will change from their long-standing role of collecting money and sending the value using the system provided by the remittance organizations. Agents will now activate scratchcards in exchange for cash, which behind-thescenes transfers to the purchaser one or more tokens of predefined value. This value is in “digital good funds” ready for onward-transfer to recipients. These “good funds” are different from other forms of payment, such as credit cards, which are subject to reversals and chargebacks, making them probabilistic rather than guaranteed.

With digital good funds on token(s) controlled by the customer, the transfer process moves online and includes the possibility of splitting the total value between multiple recipients. In early pilot testing this has been a very heavily-used feature, a high percentage of purchasers divided the funds among 3 or more recipients.

Since many agents represent more than one remittance company, brand loyalty is a challenge. Many agents simply point customers in the direction of the remittance company that offers them the biggest commission at that time. This creates a promotional roller-coaster in which commodified-services compete.

RemittanceToken is built for these economics and practices. For the agents, first and foremost, the effort to complete a transaction drops 90%. With RemittanceToken there is no money transmission carried out by the agent at retail; there is simply selling a pre-loaded card. No more elaborate paperwork or checking IDs, cashiers simply take cash and activate the cards.

Vision

REMCO designs and provide practical and transformative technology for money transfer, especially cash transfers with the vision to transform the cash-based side of the industry, reward crucial stakeholders and add consumer convenience, control and affordability.

Choose Remco

The REMCO Token solution is built using Multichain, and it includes a self-service B2B platform that not only allows money transmitters to enjoy the advantages of DLT using their existing cash-in networks, but to expand their networks by riding REMCOs reinvented processes for street corner agents.

PROBLEM

Money transmitters have few and limited options for building and expanding their business on another’s rails.

Slow Speeds

Traditional money transfer is slow for both money transmitters and their customers. New blockchain approaches are slower than many existing centralized systems.

High costs

Many corridors remain very costly, and pricing for small-value transfers is foolish. Blockchain-based cryptocurrencies require miner compensation, are inefficient and can’t scale.

Vanishing commissions

Stakeholders in the cash-based money transfer processes are increasingly frustrated by more work for less pay, leading to less participation and fewer consumer options.

Tough entry

Conventional platforms have entry barriers that are too high for affiliate networks; REMCO addresses this shortcoming.

Unstable operation

A technical failure can paralyze all affiliate networks on a centralized platform, until the cause is detected and rectified.

REMCO PLATFORM

Options for money transmitters to build their business with technology that fits their use cases and addresses their pain points using programmable tokens that can run on the rails of our global platform for remittance.

Scalable

REMCO uses a blockchain on which transactions essentially self-verify, providing the speed needed to ramp up.

Decentralized

REMCO runs on a distributed ledger technology known as a Multichain blockchain.

Lower costs

Our solution does not involve miners to verify transactions, and be paid. Even micropayments can be made affordably!

Security

REMCO Tokens are thought to be quantum-proof, though this is subject to additional scrutiny and study.

Re-engineered Process at Cash Agents

The REMCO Prepaid solution requires less time to sell than present methods, offers bonus commissions and gives tremendous control and value to the customer. Data analytics allow aggregation from multiple networks.

Remco Main Features

MULTICHAIN BLOCKCHAIN

REMCO uses blockchain protocol that require no third party POW and virtually no fee. The result is unparallel speed and cost savings for users.

SUCCESSFUL AUTHORIZATIONS

With over a decade’s experience connecting to receive-side payments and banking infrastructure, our platform works!

FASTER SPEED OF PAYOUT

No more waiting for a batch process or other slow payout processes.

COMMISSIONS FOR AGENTS

We simplify the transaction process for agents and even offer the possibility of bonus commissions based on sender preferences.

ARTIFICIAL INTELLIGENCE PLUS HUMAN EXPERIENCE

Elements of the platform will get smarter over time through AI and the unique platform itself is the result of over a decade’s experience building and running platforms for remittances and payments, integrating them with banks, bank switches and other infrastructure providers and complying with central banks.

Benefit Remco

Benefits For Remittance Companies

• Issue their own token in any currency of choice
• Distribute their token to end users directly
• Define the characteristics of their token
• Token can be used to remit money to bank/mobile wallets globally
• Tie their token to mobile wallet payout network globally
• Distribute their token to their agents

Benefits For Agents

• Take ownership of token and send to users
• Earn token activation commission
• Earn token usage fee

Benefits For Users

• Use token to send money to bank accounts globally
• Use token to send money to mobile wallets globally
• Use token to send multiple transactions thereby reducing cost

RemittanceToken: Technical Details

The RemittanceToken operates on a private permissioned network using a programmable token to transfer money leveraging on direct API connections with the destination banks and mobile wallets in various jurisdictions. The system allows pre-authorized partners to generate tokens on the network for distribution to end users or their agents. These tokens can be programmed with various denominations and currencies and buyers/senders will use a mobile or online app to initiate the money transfer, thus the sender will perform the actual transfer.

A system diagram is presented in Fig. 1, and a sequence diagram is shown in Fig. 2. The system will route the order to the remittance organization for fulfillment, transparently and in real time. The system further provides both parties real-time knowledge of the token value and usage throughout the life span of the token.

REMCO Token

VTNGlobal has processed over $700,000,000 in the last 2 years and we clearly see the opportunity of process reengineering combined with distributed ledger technology to make a big impact in the industry. We have designed the REMCO Token to have tremendous utility and to be programmable, such as where a remittance partner wishes to offer a promotion.

By both creating the tech platform and offering a B2B self-service option, VTNGLOBAL believes the REMCO Token can have transformational effects, not only for its own businesses but for partners as well.

Through this ICO we will have the necessary funds to finance our project, pay salaries, cover marketing and legal matter expenses and invest in research and development, and offer buyers of REMCO Remittance Tokens a low and discounted price.

ICO DETAILS

Token information

Token REMCO

Platform Ethereum

Type ERC20

PreICO price1 REMCO = 0.06 USD

Price in ICO1 REMCO = 0.08 USD

BONUS

Private Sale 50%

Presale 35%

Tokens for sale 1,300,000,000

Investment information

Accepting ETH, BTC, BCH, VCASH

Distributed in ICO 65%

Soft cap 6,000,000 USD

Hard cap 60,000,000 USD

ROADMAP

August-2017

Parent company Integration of Tokenized/ cashless card for termination to 22 Commercial Banks

November 2017

Parent company received Money Transmission licenses in the states of Illinois, USA

December 2017

Parent company received Money Transmission licenses in the states of Georgia, USA- December/2018

January 2018

Tokenized/ cashless card money transfer off-chain launched in Illinois, USA

February 2018

Tokenized/ cashless card money transfer off-chain launched Georgia, USA

March 2018

Travelled to Tokyo, Japan for Blockchain event meeting with various blockchain innovators

June 2018

Blockchain Project initiation

July 2018

Blockchain infrastructure development start

July 2018

Investment from Parent company

August 2018

Legal adviser appointed

September 2018

Parent company received Money Transmission licenses in the state of Maryland, USA

October 2018

Parent company committed to the Private sale

November 2018

Blockchain infrastructure development testing completed

TEAM

Peter Ojo

CEO/CTO

Joel Patenaude

COO

Catherine Berruer

Vice President

George Oluwaboro

CAP, VP Finance

Olufunmilayo Ojo

Director of Operations Africa

Dr. Moses Asom

CEO of SyChip, Inc

ADVISORS

Brent Segal, Ph.D

Advisor

Tidal W. McCoy, President, McMark, LLC

Investor

David Hershfield

Advised PayPal, Adobe

Seth Wiener

Managing Partner

Roshan Polepalli

Advisor

Robbert Walstra

Founder legal capital

More information contact :

Website: http://www.remittancetoken.io

White Paper: http://remittancetoken.io/WhitePaper.aspx

ANN : https://bitcointalk.org/index.php?topic=4983198

Facebook: http://facebook.com/remittancetoken

Telegram: https://t.me/remittancetoken

Twitter: http://twitter.com/RemittanceToken

Telegram Username : @upik05

BTT username : upik05

BTT Profile Link: https://bitcointalk.org/index.php?action=profile;u=2205131

Address wallet

0x6B4D2B44e4FB4648FE87029C4ddf00Da999127c4