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Author Topic: [ANN]REMCO : Worlds First Distributed Platform for Money Transfer  (Read 19154 times)
CrypticBabe
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October 26, 2018, 07:46:54 PM
 #341

I read somewhere that agents are used to transfer the money from one person to another person. My question is are this agent really necessary? Can't I just do the transfer through the remittance if I know how it is done?
that shouldn't be the case! cause using more and more agents will likely to increase the Fee as every agent will cut a certain commission! REMCO seems to create a direct payment gateaway where payment will pass though blockchain but receiver is not gonna know how it came!
possibly thats where you'll find a Agent!

As far as I know, you have two options for a transaction. You can choose if you want to visit an agent or perform the transaction online.
from my side its clear to me! but i dont understand the fact how recipnt will not know it came through Blockchain and how they will receive it as FIAT!
a good explanation in infographic video would be really amazing!
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October 26, 2018, 07:50:37 PM
 #342

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.

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October 26, 2018, 08:21:12 PM
 #343

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?
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October 26, 2018, 08:22:13 PM
 #344

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.

All big companies are listed there. No doubt about it. Parent company is surely a plus for this project. Since they also already reached softcap, the project is safe.

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October 26, 2018, 08:27:18 PM
 #345

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 as it will be easier for them.

India is against crypto currency and adaptations. Remco is completely in crypto world. Not sure how they can conquer Indian market with their tokens.

India is against crypto? Wow.. That's totally against most of the Indian related crypto news I see online.
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October 26, 2018, 08:31:05 PM
 #346

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?

REMCO team has provided details on the project. They’re exceptional in crypto as an ICO. They seem to be connected to top firms. Btw, the MVP I can’t say about that. Not heard about that from them. But you can check out this software provide by a member of REMCO  team. https://remcosoftware.org/

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October 26, 2018, 08:37:56 PM
 #347

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 as it will be easier for them.

India is against crypto currency and adaptations. Remco is completely in crypto world. Not sure how they can conquer Indian market with their tokens.

India is against crypto? Wow.. That's totally against most of the Indian related crypto news I see online.

India seems to have a very fussy relationship with cryptocurrencies. As the prices went up last fall, there were more and more news coming from India that there are more and more bans on ICOs or cryptocurrency trading. In that sense he is right in his statement. In recent weeks, more positive signals came from India, but who knows how fast they change their mind again. I would wish it to the people of India that the restrictions be lifted soon
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October 26, 2018, 08:43:24 PM
 #348

This transfer of money, will be offered for any type of fiat currency or just dollar and euros? Can  also use to transfer altcoins?

I think I have recently read a post by the founder, in which he confirms that you can transfer all cryptocurrencies. and I'm sure the same goes for Fiat. Why should that only work in EUR and  Dollar? Transfers are the same in every currency

Somebody also raised the question about converting the cryptocurrency into their home country currency when they make remittance. That feature would be one of the unique if it is available.

I'm quite intrigued about that and hope to see how it turns out to be,as they need all the advantages they can get in other to set the pace and really make a difference in the industry, going through their concept and whitepaper drives confidence as they stated something about having physical agents, which to me is such a good thing and its something the community can easily relate to
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October 26, 2018, 08:45:33 PM
 #349

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 as it will be easier for them.

India is against crypto currency and adaptations. Remco is completely in crypto world. Not sure how they can conquer Indian market with their tokens.

India is against crypto? Wow.. That's totally against most of the Indian related crypto news I see online.

In 2 weeks we will come to know what the stand of the Indian government is. But India's central bank banned all banks to make crypto transactions. Now case is in the supreme court.
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October 26, 2018, 08:46:12 PM
 #350

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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October 26, 2018, 08:48:29 PM
 #351

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.

Always first of its kind project gets more attention. I have never come across any remitance tokens till now. May be I missed it. Not sure. Any immediate competitors for Remco?

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October 26, 2018, 08:51:16 PM
 #352

Quote
Our parent company has Money transmitter and mobile payment licenses and has processed billions in transactions with millions of
subscribers
What is the name of the parent company?

I keep seeing the 'parent company' being mentioned, I've struggled to find this information online. Has anyone successfully contacted the REMCO team and found out this information?

questions like this are best answered in their telegram channel i would advise you head to their telegram channel with such question
I am also interested to see that the name of parent company. I never heard about it at anywhere or might be I missed this information.

Yeah,  Just saw some replies here about that parent company? I also didn't know that they have some informations about it? Or anyone have a link to this information?

So the way this is all structured is:
The mother company VTNGlobal registered in the US
VTNNetwork the sister company registered in Nigeria
Remco Software is an entity under VTNGlobal
I've wrote about them here: https://steemit.com/remittance/@ethninja/remco-the-crypto-money-order-with-a-plus

Yeah, nice information. Also you written nice article buddy,  I was not aware about this above things also. Hope so more articles will comes soon.
This is well written article, you shared lots of insights on remco and it has really broaden my scope. Thanks for sharing.   
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October 26, 2018, 08:55:14 PM
 #353

I read somewhere that agents are used to transfer the money from one person to another person. My question is are this agent really necessary? Can't I just do the transfer through the remittance if I know how it is done?

i thought the agents are necessary for actually transferring the money they will serve as middlemen that makes it possible to do the transfer because the idea is to achieve the transfer with ease i guess

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October 26, 2018, 09:04:35 PM
 #354

Quote
Our parent company has Money transmitter and mobile payment licenses and has processed billions in transactions with millions of
subscribers
What is the name of the parent company?

I keep seeing the 'parent company' being mentioned, I've struggled to find this information online. Has anyone successfully contacted the REMCO team and found out this information?

Here it is guys https://www.vtnglobal.com
They have got root in the USA and have financial partnership with quite an handful of financial institution out here plus they have some solid experience in money transfer across the web and on mobile

Thanks for sourcing this out man, they sure have the qualification, is USA their headquarter?

Remco team should schedule AMA sessions, many people have questions regarding parents company. I hope they come up with such session soon
There are also other options like live Q&A with the CEO, does REMCO has one already? if they don't they should try it out.

yeah, its usually called AMA (Ask Me Anything ) and i think it is really important but since they are just starting i will advise they add that to their planning as well as meetups
Remco should introduce the AMA session, it will create an efficient communication between the project team and the community.   
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October 26, 2018, 09:10:53 PM
 #355

I read somewhere that agents are used to transfer the money from one person to another person. My question is are this agent really necessary? Can't I just do the transfer through the remittance if I know how it is done?

i thought the agents are necessary for actually transferring the money they will serve as middlemen that makes it possible to do the transfer because the idea is to achieve the transfer with ease i guess

I don't think that there is a need of an agent. You can transfer the tokens online without an agent. I hope one of the team members can clarify the situation. Maybe an AMA is helpful and someone explain the function of the agents.
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October 26, 2018, 09:19:28 PM
 #356

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 as it will be easier for them.

Yeah right... Why India is a big market for Remco I know they use a lot of remittance service over there but I know they have already working products in Africa... They should build them up right from there before going into other economy

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October 26, 2018, 09:26:57 PM
 #357

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 as it will be easier for them.

Yeah right... Why India is a big market for Remco I know they use a lot of remittance service over there but I know they have already working products in Africa... They should build them up right from there before going into other economy

It all works together. They’ve established a good deal in Africa already. They got a project in Nigeria and some African countries as well.  Am interested in how much they’re going to be affected by CryptoCurrency adoption in those countries. This would go a long way in giving Africa a bit of what Blockchain offers. And it’s good they’re doing this with ‘money’.

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October 26, 2018, 09:36:02 PM
 #358

I read somewhere that agents are used to transfer the money from one person to another person. My question is are this agent really necessary? Can't I just do the transfer through the remittance if I know how it is done?

i thought the agents are necessary for actually transferring the money they will serve as middlemen that makes it possible to do the transfer because the idea is to achieve the transfer with ease i guess

I don't think that there is a need of an agent. You can transfer the tokens online without an agent. I hope one of the team members can clarify the situation. Maybe an AMA is helpful and someone explain the function of the agents.

It’s the first time Blockchain is coming into the money transmitters market big time this time. I advice the team to do a AMA session. That would in some days time though. But I like the pace they are taking the project. I read through the thread and saw some reply from team members on the thread. Trying to explain in details what’s it’s all about. That team work and your investors/token holders are a part of that.
If there’s going to be an agent, then it should be made minimally, I won’t like to pay a higher transfer fee.

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October 26, 2018, 09:38:53 PM
 #359

Quote
Our parent company has Money transmitter and mobile payment licenses and has processed billions in transactions with millions of
subscribers
What is the name of the parent company?

I keep seeing the 'parent company' being mentioned, I've struggled to find this information online. Has anyone successfully contacted the REMCO team and found out this information?

Here it is guys https://www.vtnglobal.com
They have got root in the USA and have financial partnership with quite an handful of financial institution out here plus they have some solid experience in money transfer across the web and on mobile

Awesome thank you mate for providing this information! Really helpful because I couldn't find this info on my own. Going to look into VTN and find out what I can about their company. They look like a serious company that has been operating for 7+ years with some big connections to payment companies such as Western Union.

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October 26, 2018, 09:49:15 PM
 #360

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 as it will be easier for them.

Yeah right... Why India is a big market for Remco I know they use a lot of remittance service over there but I know they have already working products in Africa... They should build them up right from there before going into other economy

It all works together. They’ve established a good deal in Africa already. They got a project in Nigeria and some African countries as well.  Am interested in how much they’re going to be affected by CryptoCurrency adoption in those countries. This would go a long way in giving Africa a bit of what Blockchain offers. And it’s good they’re doing this with ‘money’.

I think the misconception here is "Africa may not be in full knowledge of cryptocurrencies or blockchain" buddy that's a total misconception, fact is Africa is very much aware however acceptability and adoption which is same in most countries developed and developing needs to be worked upon and taken into full consideration

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