A warm embrace to the entire Steemit community, wishing you all the best for your lives. Today I bring you a new post which is very interesting in reference to sending remittances and money transfers, I am talking about REMCO Software, Inc, but before I talk to you about REMCO, I'd like to tell you where it comes from.

VTNGLOBAL, INC. is an existing USA-based payment and business process re-engineering company that has reinvented and refined money transfer technology in a number of ways, including with a new digital token, the RemittanceToken. This uses distributed ledger technology and the company has placed it into a new entity, REMCO Software, Inc.
VTNGLOBAL, INC’s platform is used by leading remittance industry partners who have processed over $700million in the past two years (2016 and 2018) in collaboration with VTNGLOBAL’s sister company based in Nigeria (a country of 180 million that dominates west Africa) that is licensed for both international money transfer and mobile payments.
Led by a CEO/CTO with over 15 years of experience moving digital value between developed and underdeveloped countries globally, the company’s solutions address stored value, global remittances (including online money transfer and consumer-facing sending and receiving agents), the transfer process itself, the foreign exchange, regulatory compliance (including licensing), and the involvement of banks or crypto-assets.

REMCO Offers A New Vision For Money Transfer. REMCO Tokens (REMCO Remittance tokens) connect senders and recipients without any intermediary, the way mobile phones connect two people. REMCO Remittance tokens use a revolutionary programmable money transmission token and APIs to allow remittance companies globally to mint and customize their own Tokens. REMCO SOFTWARE, INC. proposes to launch its digital RemittanceToken to accomplish these main core objectives:

1. Improve the Stakeholders’ experiences (“good funds” model).

2. Unify global remittances with a universally-accepted token, the RemittanceToken.

3. Gain operational advantages (Increased transparency, increased record security and increased accuracy).

4. Reduce the cost of remittances, especially for multiple recipients

VTNGLOBAL INC. proposes to reinvent this process. Agents will still be there but their duties will change from their long-standing role of collecting money and sending the value using the system provided by the remittance organizations. Agents will now activate scratchcards in exchange for cash, which behind-thescenes transfers to the purchaser one or more tokens of predefined value. This value is in “digital good funds” ready for onward-transfer to recipients. These “good funds” are different from other forms of payment, such as credit cards, which are subject to reversals and chargebacks, making them probabilistic rather than guaranteed.
With digital good funds on token(s) controlled by the customer, the transfer process moves online and includes the possibility of splitting the total value between multiple recipients. In early pilot testing this has been a very heavily-used feature, a high percentage of purchasers divided the funds among 3 or more recipients.

WHY CHOOSE REMCO

Solutions REMCO Token is built using Multichain and include self-service platform for B2B, which will not only allow money transmitters to enjoy the benefits of DLT using existing networks with cash, but also to expand its network, driving REMCO to re-open the process to routes with angular agents. Money transmitters have limited and limited choice to build and expand their business on other rails. Traditional money transfers are slow for both money translators and their clients. The new block chain approach is slower than many existing centralized systems.

Many corridors are still very expensive and the prices of small transfers are stupid. Blocked cryptocurrency system is in need of repair, inefficient and can not be scaled. Remco Software Inc. has big plans with an ICO this Fall that will build out the RemittanceToken platform capabilities, and fund rapid expansion across the USA and into many more markets. VTN already has existing integrations and processes transactions daily for well-known corporates such as Western Union, IDT/Boss Revolution, Transfer-To, and others. The Remco blockchain token mimicks the gift card draw down mechanism on the one hand. However, users can send the entire value if they so wish. This is an astounding revenue opportunity for remittance organizations unlike before.

REMITTANCE TOKEN SECURITY

L'instrument à jeton n'a aucune valeur tant qu'il n'est pas activé par un partenaire autorisé ou un agent. L'exposition au risque est négligeable car un jeton inactif ne peut pas être utilisé. Pour activer le jeton, l'agent doit accéder à une interface en ligne. À ce stade, le système connaît l'agent et l'organisation de remise auxquels le jeton appartient.
Remittance Tokem
est conçu pour dissuader les comportements criminels potentiels en utilisant les procédures AML / CFT les plus à jour, en particulier:

Le système de RemittanceToken permet aux organisations de transfert de fonds de définir des limites d'utilisation en fonction de leurs procédures AML internes en ce qui concerne le montant total d'argent provenant de n'importe quel expéditeur par jour / semaine / mois et les agents ne peuvent pas autoriser les remplacements. En tant que condition préalable à l'utilisation de la carte, le système nécessite un KYC approprié à la fois pour les destinataires et les expéditeurs, tel que défini par les différentes juridictions, souvent lié à un calendrier hiérarchisé en fonction des montants transmis. Cela exige que le nouvel utilisateur télécharge des documents d'identité que le système vérifie ensuite. Cette information est requise une seule fois, sauf si le système détecte que l'identification a expiré, puis invite l'expéditeur à mettre à jour la documentation. Outre les limites AML définies par les organisations de remise de fonds autorisées, le système RemittanceToken franchit une étape supplémentaire en enregistrant les activités suspectes en vue d'un examen plus approfondi. La plate-forme RemittanceToken conserve certains points de données requis par les règles de tenue des dossiers, notamment l'identification des personnes effectuant des transactions, la gestion des traces papier et le

REMCO DIFFERENT FROM THE OTHER PLATFORMS

Blockchain Multichain: REMCO uses a blockchain tradition that does not require pariah POWs and no costs. The result is unparallel speed and cost hold stores for customers.

Powerful Approval: With over a period of experience related to portion receipts and keeping cash establishment, our stage limits!

Smart Speed of Installment: Never again sitting tight for pack frames or other direct portion shapes

Commission for Specialists: We unravel the trade method for pros and even offer the probability of additional commissions in light of the sender's tendencies

Man-made awareness In addition to Human Experience: Stage segments will be more insightful after some time through AI and the unique stage itself is the outcome of over a period of experience building and running stages for settlements and portions, planning them with banks, switch banks and other system providers and following national banks.

DETAIL AND DISTRIBUTION OF THE ICO

The organization will have an aggregate token supply of 2,000,000,000 amid the advanced stages and these tokens will be dispensed as appeared in the outline beneath:

The proceeds from the sale of Remittance Token will be used to fund the development and expansion REMITTANCETOKEN network. The token allocations assume that all the Remittance Token will be sold during
the Token Sale period.

BENEFITS FOR REMITTANCE COMPANIES

This new process assures 100% acceptance on the one hand and addresses some of the regulatory challenges of monitoring agents. The need to ensure that agents comply is a significant concern for regulators and remittance organizations, and by shifting the responsibility of “sending money” to senders instead of agents, we argue that the burden of sending money is now on senders. Regardless of the amount to be transmitted - the transfer fee is negligible per transaction, and this makes the Token process attractive to the Diaspora market. The Token process has the potential to redefine the role of agents fundamentally, which is an improvement over our current store value card process. By shifting the burden of sending money to the end users, the Token process may finally contribute to the relaxation of regulatory burden on delegate agents. The economic incentive for remittance partners is that it allows remittance service providers to spend less on agent recruitments and training and be very competitive in the marketplace. This new method of storing value and facilitating cross-border remittance also has the potential to pose a formidable competition to the existing traditional agent model. The processes and methods also assure compliance with AML and KYC requirements effortlessly.