REMIIT- Decentralized Remiittance and Payment
ABOUT REMIIT As we face Globalization, a variety of obstacles between nations have been diminished and the global interplay of human beings and goods have become extra convenient. Especially due to the improvement of the internet, the range of overseas remittance and fee transactions is rapidly increasing. While such a massive market has spurred monopolistic monetary institutions, the obstacles between customers are nevertheless excessive and transparency continues to be a steady problem. First, «overseas remittance» transactions are sluggish and ineffective because of systems like the SWIFT network whilst Money Transfer Operators such as banks and non-bank fintech organizations have boundaries in scalability and expandability. Furthermore, the «exchange rate» that emerges when discussing world finance is changing in as we examine relying on the political and economic hobbies between countries. Under these situations, there ...
