ZED Network Project - Money Transfers on the Blockchain
All of us have long been familiar with the money transfer service that has entered our everyday life with the advent of electronic money. This type of services is currently provided to us by banks and international companies in the face of such giants as Western Union or WebMoney. As we know, in each system there are certain problems that bring inconvenience, and this type of service did not stay aloof.
If someone has ever used this service, maybe there are a number of problems, such as high commission fees and the duration of the transfer. All this is connected with a large number of intermediaries that are involved in the transfer of funds. The solution of the current problems in the sphere of money transfer is offered by the ZED Network project, by introducing the blockchain.
The ZED Network project has decided to launch a global payment platform integrated with blockchain to address pressing issues and injustices in the money transfer market. Platform ZED Network offers a single point of integration when sending and receiving money transfers using your own wallet, web and mobile application, with the possibility of exchanging several currency pairs.
Currently, there are several large companies in the remittance market that are considered to be the main players in this service sector. Other companies are small and medium-sized companies that can not scale and develop due to lack of resources and technological limitations, as well as reluctance of banks to service small money transfers. This situation is very detrimental to the costs of remittances, as there is no competition and the inability to compete with large companies.
The development team created the platform through Stellar's distributed exchange, which gives the users and customers of the project many advantages, and solves the main problems associated with the speed of money transfer and the cost of commission fees. The Stellar exchange also allows the ZED Network to accept payments in BTC, ETH and XLM.
The use of smart contracts gives full transparency and security to all processes, and the use of KYC and AML will tighten the admission, and secure the project from scammers. We can say that the ZED Network project enables small companies to compete with the leading companies in this service sector. A total of 5.000.000 ZED tokens have been released, which can be purchased during the ICO.
What does the ZED Network project offer us:
- Low commission fees, which will amount to 1% of the transfer amount.
- Increased speed of money transfers.
- Full transparency of all transactions.
- The union of translation operators is possible around the world.
- ZED Network is developing a web version and mobile application.
The conclusion.
In my opinion, the project is very promising, as existing problems create consumer inconveniences and their solution will lead to an increase in the volume of remittances.
Website: https://zed.network/
Telegram: https://t.me/zednetworkinc
Discussion at the forum: https://bitcointalk.org/index.php?topic=2304383.0
My profile on Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1695767
@varis01, I do not understand anything written
The native application will create convenience for using the platform.
Indeed, the lack of competition and monopoly establish inflated fees.
I studied the white paper. The project is promising.