ABSTRACTLocal Remit is a peer‐to‐peer platform that allows traders to skip the middleman and trade on their own terms, whether that be via bank transfer, any online payment.
CONCEPTTrades executed using the Local Remit marketplace are confidential via end‐to‐end encryption and unlike traditional over‐the‐counter platforms, the escrow mechanism is decentralized.
The only time the escrow arbiter can step in and transfer cryptocurrency is if it receives explicit digital permission to resolve a dispute but even then the smart contract code only allows the arbiter to transfer escrowed cryptocurrency to one of the parties.
When Local Remit goes live we will start by listing the following cryptocurrencies for trading; Bitcoin, Ethereum,Bitcoin Cash, Litecoin,EOS and our native Token LRT.
All transactions on Local Remit will have a small transaction fee that will be paid for with our Native Utility Token to avoid crypto dust left in User’s wallets.
The Problem As We See itAlthough the number of cryptocurrency exchanges has grown, there has been little progress in eliminating trust from cryptocurrency on‐boarding.
Instead, blockchain financial innovators are replicating the vulnerable systems of Wall Street stock exchanges and banks — the same systems that provoked the global financial crisis and the same systems that motivated the genesis of Bitcoin.
Is The Market Ready?The prime advantage of cryptocurrency over fiat is the elimination of the need for an intermediary. Instead of relying on an institution to keep a record of your balance (i.e. a bank), blockchains use a distributed ledger of transactions verified by a large network of computers.
The result is that it’s impossible for anybody to access your digital wallet without possession of your secret key, regardless of other circumstances. As long as your wallet’s private key is kept secret, your cryptocurrency is secure.
The environment is ripe for peer-to-peer cryptocurrency marketplaces and some of our predecessors have succeeded in this field with very little effort because of the regulatory difficulties of converting Fiat to Crypto in almost every jurisdiction in the world.
Join The Conversation!WEBSITE: https://LocalRemit.comFACEBOOK: https://facebook/localremitTWITTER: https://twitter.com/localremitTELEGRAM: https://t.me/localremitANNOUNCEMENT: https://t.me/localremitnewsOUR AIRDROP IS STILL RUNNING AND WILL END ON 28th SEPT 2018Join our Community to learn more about the airdrop
https://t.me/localremitBOUNTY PROGRAMREAD MORE:
https://medium.com/@LocalRemit/local-remit-bounty-program-f7b5449ac712 Without an advertising budget (like totally zero) we have managed to build a community on all social media accounts totalling 80,000+ Members!
Imagine what we would accomplish if we had the funds we are seeking!
The development of Local Remit is not an invention of some new technology or a solution to a problem that is yet to come into existence...We are solving the core issue with growth of not only Cryptocurrencies but the adoption of blockchain!
The biggest hindrance to spontaneous growth people equate with birth of internet (global adoption) is not realized not because of volatility of Crypto prices but the on boarding process of new users and adopters!
Think of it, if the first browser wasn't invented would the adoption of internet been that fast? The honest answer is No!
Browsers offered a fairly self explanatory UI/UX of how to use the internet and this enabled people who didn't even know how the internet works in the background to be able to use it!
People don't need to understand how Crypto works to use it, they just need a secure means and a more user friendly way of acquiring it! (don't get me wrong learning how crypto and blockchain works is fundamental)
Local Remit is built around this ideology. We believe in building a Crypto marketplace with self explanatory UI/UX (user interface & user experience). This will ease crypto on boarding process and will get more users to join the revolution!
Development of the marketplace is not as complex as creating an exchange and we can have the public Beta by March 2019.
We hope to raise enough funds to be able to host the entire team in one country during the period of development and beyond. We also intend on getting listed on some of the biggest exchanges in the world.
We can only accomplish this if we raise funds
If you're an investor looking to invest more than 10 ETH please fill the form on
www.LocalRemit.com/Whitelist
