Send: A successful economy of digital cash
Introduction-
With the ever expanding world and increasing connect within the countries, it has become a lost easier to migrate from one place to another. As a teenager, it has always been a dream of mine to study in some foreign university, publish research papers, see new people and places, learn about their cultures and so on. There are kids who complete high school and then go abroad to study in some elite college to complete their senior secondary. Some students fly to a foreign place to do their graduation, post graduation and so on. Majority of migrants are students who decide to complete their education and settle down. The rest are people searching for job opportunities or a new life away from the mundane, with new ideas and thoughts that are in store for them. And most of the times, families cannot join us in our dreams. Thus we need to cater to the needs of our families from around the world. The most important issue is financial transactions.
Cryptocurrencies-
With the financial crisis of 2008, the concept of blockchain technology and bitcoins came into picture. Satoshi Nakamoto had the brainwave of an idea to disrupt the regular financial platforms and convert it into a decentralized one, with distributed networks of digital assets, that admonish the need of single administration, and thus enhances the safety and security of the platform. The blockchain, which formed the basis of the bitcoins and other cryptocurrencies, was a distributed ledger, that was roughly like a public listing which enabled people to see all the activities, that is, transactions, exchanges and trades histories very clearly. This high level of transparency was a key feature of blockchain, and thus cryptocurrencies. Due to decentralization, there wasn't need of intermediaries and financial services could be provided through electronic cash or digital assets in a much simpler way. The idea was very good and instantly gained popularity.
Drawbacks-
However, there are a lot of drawbacks in the system. Bitcoins, and other cryptocurrencies are prone to volatility, as they rise and fall very quickly according to the market. They are also a prey to speculation because of being market dependent, which affects their value. Cryptocurrencies cannot be used by everyone because the mechanism is complex and not user friendly. Due to such issues, migrants, who looked up to cryptocurrencies for international financial exchanges and transactions, suffer a loss
Send Tokens-
To help the stranded in stranger lands, Send Tokens tried to resolve the issues faced by the common cryptocurrency. SDT Tokens offers a price consensus network which comprises vast number of diffused transactions in market forces rather than a single group determining its value. Thus this concept promotes liquidity and stability to the token. Using apps integrating with this consensus network allows people to have limited periods of heightened stability of the Send Tokens, and cross country transactions can be made with ease. One such app is WeSend, which also includes a messaging service.
Conclusion-
Thus, Send Tokens ease the process of financial transactions through cryptocurrencies by providing a platform with a stable token and minimal transaction costs such that our loved ones living across the globe do not suffer from any financial trouble.
Website - https://www.sendprotocol.com/
Whitepaper - https://www.sendprotocol.com/documents/whitepaper.pdf
Telegram - https://t.me/SendKYC_Bot?start=150417502
ANN - https://bitcointalk.org/index.php?topic=4132396.0
Published by - coineaglebt
Btalkprofile - https://bitcointalk.org/index.php?action=profile;u=1936073