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Hi, to answer your question: The hard cap as explained in the whitepaper ( https://www.remittancetoken.io/WhitePaper.aspx ) is based on milestones and what Remco can achieve with the crowd sale fund. Remco is run by experienced money transmitters in partnership with Western Union and many money transmitters in the USA Milestone: Operations in 10 US states /U.K/ 5 African countries Hard Cap: $6m Milestone: Operations in 20 USA states / 5 Countries in Europe/ 5 countries in Asia/ 15 African countries Hard Cap: $12m Milestone: perations in USA (national bank license) / 5 Countries in Europe/ 5 countries in Asia/205 African countries Hard Cap: $30m Milestone: Full global operations, national bank license in USA Hard Cap: $60m |
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Total supply of the tokens are 2,000,000,000 Token out of which 875,000,000 will be available for sale during ICO. $60,000,000 is the hardcap, and I think they will come close to it.
That's a very optimistic assumption. In times like these, reaching the softcaps is already very good. Although I'm really convinced of this project, I do not think it's going to be close to the hardcap. The framework conditions are simply too bad for that. Except, of course, if they will find some big investors, which is really possible at Remco Reaching hardcap is not easy for any project these days. And if I remember correctly Remco have kept hardcap 10 times of softcap. It's not easy to get such high investment. Hi, to answer your question: The hard cap as explained in the whitepaper ( https://www.remittancetoken.io/WhitePaper.aspx ) is based on milestones and what Remco can achieve with the crowd sale fund. Remco is run by experienced money transmitters in partnership with Western Union and many money transmitters in the USA Milestone: Operations in 10 US states /U.K/ 5 African countries Hard Cap: $6m Milestone: Operations in 20 USA states / 5 Countries in Europe/ 5 countries in Asia/ 15 African countries Hard Cap: $12m Milestone: perations in USA (national bank license) / 5 Countries in Europe/ 5 countries in Asia/205 African countries Hard Cap: $30m Milestone: Full global operations, national bank license in USA Hard Cap: $60m |
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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. Your not wrong but in the end Every avenue of social media so while Instagram might not be great I don’t see how it hurts I think having more avenues of reaching everyone out their is something projects should use regardless if it’s the perfect fit or not Have Telegram idea? Please get in touch with proposal: https://www.remittancetoken.io/ContactUs.aspx |
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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? The asset token is like company shares, while the utility token is for sending money in real-time to bank accounts and mobile wallets globally. |
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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 wow its good to see the core members are active here on the thread! i really liked the fact that the Recipient of money will now how this money got into its country or to him! that made me wonder if you're planing on spreading countries where Crypto currency is banned? Yes. The World's First Powerful Distributed Token-Generating Blockchain Platform for Money Transfer. Jurisdiction and Money Transmission Flow Agnostic. Remco's global architecture allows it to terminate Fiat even though the entry is Crypto and vice versa. Thanks |
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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 Is remco for transferring cryptocurrency assets such as bitcoin or Ethereum or for transferring fiat? Is it the crypto world western union. Hi again, Remco is for transferring any stored value. Fiat, cryptocurrency asset. Any store value can be transferred using Remco. Entities using Remco get to decide what value they are transferring. |
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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 Thanks for the information. It’ll be a utility token, used by money transmitters on their platform. They pay for Using REMCO service on their platform in tokens. But users don’t need to know there’s a Blockchain technology involved. Also there’s an asset token, ERC20 based, which would be trading on exchanges. Are these tokens same? No, they are not the same. The utility token is strictly utility and drives the asset token, however, the asset token can be used to move value on the network with an exchange bridge in between. |
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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 |
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Works for me as well and have to agree they at least put time into their white paper I’ve seen so many projects put next to 0 effort into their whitepaper not realizing just critical of a peice of their company and project it is
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 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. 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=Fn3cCLm76tkYa 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 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. Channel coming up Here is a video https://www.youtube.com/watch?v=OgfqCEDRcUA |
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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 |
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I know the team is working hard and this forum is not an easy place to follow up on questions. But the team can do well to mount at least one member here to answer questions.
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 |
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