This service is unique. Must be the first Blockchain solution to money transmitters.
It’s surprisingly, no one has looked into this growing sphere, everyday people send money back home to care for parents and families. This is common with immigrants working or from home to students in Europe.
You’ll have to spend a higher when you send through many agents. They’ll all want a bit of the money.
You are right. I am also hearing for the first time. Really looking forward for MVP or demo to feel the reality of how the whole approach works. Do we have any MVP for testing? I am sure once more people learn about REMCO there will be some copycat projects. So it's great that REMCO has the first mover advantage and hopefully can establish their business before other projects can really emerge. |
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As mentioned in roadmap parent company private sale. So just want to know that which is this parent company? I mean Remco already have any partnership with any company?
As far as I know, the parent company behind REMCO is VTNglobal. VTN has already business relationships and partnerships with some big companies, mentioned in the White Paper on page 3. Yeah, I seen that info on page 3. So those list are working with Remco? I mean what kind of relationship and connections with those companies exactly? The companies listed in the White Paper have relationships, connections or pare partnered with VNTglobal. As VNTglobal is the parent company of REMCO, they have at least good connections to them. I don't know if the companies also have partnerships with REMCO. These connections that VNTglobal already has will be huge for REMCO. Such partnerships or business connections can be the key for a successful project and are a massive advantage compared to potential competitors. |
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According to the bar plot shown in the ANN post, India is top in the list of remittances made. No doubt. It will also stay always in the top for next years also.
True, India uses remittance a whole lot. I also don't see anyone overtaking them and I think they will fully adopt the Remco solution is it will be easier for them. I think there is much competition in Indian and it might not help a startup starting there. I think they have a better shot in places where they are mostly active like the US and Nigeria. Is India also the country where Remco wants to start first? Or on which region are they planning to focus on when starting their business? |
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I just noticed that REMCO also has an Instagram account, but they do not have a lot of followers there and no posts at all any reason for that, because it could be a great platform to get some investors in.
I do not see any sense in operating an instagram-account in the area of cryptocurrencies. Which relevant information should be communicated there? Since I think it's much better that the founder here actively participate in the forum. Honestly, I have not even looked at the link to instagram. The whitepaper has enough information for now I agree. I think the benefit and influence of Instagram for cryptocurrencies is limited. There are some better and more popular apps for sharing photos and videos. You can't believe how paid marketing works in Instagram ! You'll have many quality Users there and many Investors use it! Keeping them updated by Sharing Photos of team,office, their activities is always appreciate! So Don't take Instagram for granted! Yeah, Instagram can be a powerful platform for marketing. Just look at all these 'Influencers' there who have a huge fanbase. However for cryptos I have the feeling Twitter and Facebook have still a leading role. |
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Yeah, I also tried to find some link about the wallet because it's really looks like already live somewhere. Or does the admin or their team member could give us the link for it. 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 First of all. Thanks for taking the time to answer our questions here. I can imagine that you are quite busy with the preparation for the ICO. There is one thing I am still a bit confused. The Remittance tokens will be on the Ethereum blockchain, right? And when a new token is generated, will it be an ERC20 token, too? Or will you build an own blockchain for this (multichain blockchain?)? Sure I'll explain as best as I can. Remember we are all about a practical solution that can actually work in this industry. We have two token model: There is the utility and asset token (ERC 20) The utility is internally built, and transaction recording is on multichain. As a money transmitter, there can be no delays, third-party verification, fluctuation in value for each transaction otherwise such blockchain solution will never work for remittance. i.e., Bitcoin To avoid the fate of other solutions which ultimately could not be used for real-time money transmission, we came up with Remco. Thanks Okay, so the asset token will be for sending money. Does this mean that there has to be a new asset token created for every transfer of money? |
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Yeah, I also tried to find some link about the wallet because it's really looks like already live somewhere. Or does the admin or their team member could give us the link for it. 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 First of all. Thanks for taking the time to answer our questions here. I can imagine that you are quite busy with the preparation for the ICO. There is one thing I am still a bit confused. The Remittance tokens will be on the Ethereum blockchain, right? And when a new token is generated, will it be an ERC20 token, too? Or will you build an own blockchain for this (multichain blockchain?)? |
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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?
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. |
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I am just seeing that the Public Sale will last from December 01 - March 31 2019. That's a very long time. This of course has the advantage of having any market recovery during public sales. and there are always new users who may be interested in Remco.
Nonetheless, I find that the sale takes too long, but that's just my opinion
Yea, the duration is long but it will worth it, the news in the crypto community is so positive that it will be reflected within the sales period, which will be an advantage for REMCO, its a brilliant plan if you ask, it will be quite risky to make the sales duration short as that may lead to a decrease in sales and as such cause the implementations to be much longer It's a reasonable decision to have an ICO scheduled for 4 months. Especially in these current times, when people aren't investing as much as they used to do a year ago. This longer ICO period will help them reach their goals and who knows, maybe we will see some market recovery at the end of this year/beginning of 2019. Then the ICO could also sell out faster. Better to have a longer ICO right from the beginning than expanding it several times on a short notice. |
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If I understand it correctly, REMCO will be using a so-called Multichain blockchain. Does this mean that they are developing their own, new blockchain? Or will the tokens be based on the Ethereum blockchain?
Their token is ERC20 tokens. So I believe they use Ethereum blockchain atleast for the beginning. Someone correct me if I am wrong. I checked their whitepaper. The Remittance token will definitely be on the Ethereum blockchain. But I am still not sure what is meant with multichain blockchain. |
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I've always wondering why money transfer agencies did not adopt crypto yet. I mean all indications show they could really make use from it. I mean they could lower their fees and attract more transactions rather than increase fees and lower they volume.
Because they all think in far too small times. They only see the next quarterly figures, but they are not interested in what could be in two years' time. Luckily, not all are the same, as you can see in Remco. The profit from this that others do not want to make progress I was also asking me the same thing. I mean, technically in a world with full crypto adoption you wouldn't need money transfer agencies anymore. When you can pay with cryptos everywhere it's easy to send it from one country to the other end of the world instantly. No need to actually go to a money transfer office to get your money. So if these money transfer agencies wanna survive they should definitely get involved in cryptocurrencies. |
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Currently pre ICO crowd sale is going on with 35% bonus that is huge for me. Even accepting 3 Crypto currencies for payment. But just want to know that, what is the minimum investment for this running sale?
The more bonus - the more then the price will fall on the exchange. I noticed this a long time ago. Especially if the bonus is more than 50%. Currently pre-sale is going on and in such cases 35% bonus is okay. Considering these investors will not be dumping the tokens after listings. It's small investor or bounty hunter normally do the dumping. dumping is usually done by bounty hunters and it affects the value of the token but i want to believe the team are having some measures to checkmate things like that Bounty is important part of marketing and project have to spend money on that. But agree, % of the total tokens should be very limited for bounty. Yeah, that's true. Because of this reason I guess bounty hunters are getting their rewards late from the admins. It's actually private investors who need to hold tokens for 1-2 years, depending on the condition which setup by project. For private investors a vesting period is common. So that they in fact get better bonuses but the same time commit to hold the tokens for a longer period and don't sell them as soon as they hit the exchanges. |
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I see you're making a Platform to make Money transfer worldwide Easier!
And seem to have a good number of Partners listed in website!
But services like WU transfer really interested in being decentralization with REMCO?
Who is the nearest competitor for Remco? Is it closer to Paypal? As far as I know, Paypal does not use blockchain. There are lots of room for improvement in this field. No doubt about it. Yea, paypal is not a decentralized platform, so the mechanism in place for REMCO is quite different from that of paypal, that's something to leverage on and we know that the blockchain industry has so far been proven to be a lot faster than the traditional means of transactions, though a lot of improvements still needs to be done and i realize that their security process is quite unique This project would bring together top firms in money transfer together. REMCO would revolutionize a multi billion dollar global remittance market. They plan to build a platform to allow any licensed money transfer firm. Migrant workers globally have to send some money back home intermittently. REMCO tokens would cut down the high money transfer fees. So now we don't have to visit any WU offices to send or receive money? It will be done online using blockchain technology? This is what is my understanding as well. Now we don't have to visit any money transfer service provider office. So how exactly would this work? I mean if I need to send/receive cash, I would still have to go to an office to do so, right? |
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Currently pre ICO crowd sale is going on with 35% bonus that is huge for me. Even accepting 3 Crypto currencies for payment. But just want to know that, what is the minimum investment for this running sale?
The more bonus - the more then the price will fall on the exchange. I noticed this a long time ago. Especially if the bonus is more than 50%. Yeah, because the bigger the bonus is, the more someone who got these bonuses can undercut the ICO price and still have profit. But 30 % doesn't seem too much for me, I know of other projects who gave way bigger bonuses. |
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I am sure they definitely have plans to expand to other parts of the world. However, Asia seems to be a good region to start with. They are more enthusiastic about cryptos there than, for example, Europeans I think.
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If I understand it correctly, REMCO will be using a so-called Multichain blockchain. Does this mean that they are developing their own, new blockchain? Or will the tokens be based on the Ethereum blockchain?
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Yes usually people in crypto like exchange project, cause it’s one of the most important thing in crypto, and a sucessfull crypto trading platform could have a huge value. If ternion can deliver what they say, the project will have a good futur I think.
Sure it is important, part of the infrastructure. but there are so many with very low liquidity. most will die in the end. certainly for those who work in the crypto world, the exchanges are a very important part, especially the hybrid exchange, but before the launch nobody can know if ternion will be successful and will have large volumes of exchange,it depends on many factors, services offered, transaction speed, fee... I don't think that they will have big fee, this is of course important aspect - as for the rest - transaction speed, fast and high-quality work of the site - all this can be perfect, provided that the team spends maximum of their strength for these purposes. The fees will probably be comparable to other exchanges. Maybe even lower, especially when you can get discounts by using the Ternion tokens to pay for the fees. |
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So this means even if the softcap isn't reached, the project will go on, right? Sounds good for all the investors but I ask myself why they set a number for the softcap if they will continue anyway. Because I guess for most people a softcap means the minimum amount a project needs to raise to be able to work with. It would sound much better if they could say officially that they already reached their 'softcap'.
I agree, if they continue anyway, independent how many Fiiicoins they sell, they don't need a softcap. This could confuse some interested investors. Exactly. And it's not only confusing. Letting the people know that they already raised enough so that the project can continue could also help to convince undecided people who are still not sure whether to invest or not. |
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So this means even if the softcap isn't reached, the project will go on, right? Sounds good for all the investors but I ask myself why they set a number for the softcap if they will continue anyway. Because I guess for most people a softcap means the minimum amount a project needs to raise to be able to work with. It would sound much better if they could say officially that they already reached their 'softcap'.
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It's kind of a paradox but you are right. To become mainstream crypto needs easy ways to convert fiat to crypto. Right now it's quite a hassle and it needs to become as easy as possible in order that the vast majority of people gets involved in crypto. And new fiat money flowing into the crypto markets will definitely help us see rising prices again.
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Is this project still on,will there actually be come back or the team has decided to close the project without disclosing their intentions?
Of course. you are right. What happened ? Why all this mystery? But in the end the team is obliged to disclose its plans and decisions regarding the project. Well, I was away for quite some time (from cryptos in general) but it seems like the ICO is only paused until further notice. The team will definitely let us know once they have a date when they will resume the token sale. |
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