Introducing ZED
ZED Network is a cryptocurrency enabled platform that is designed to power global money transfers in real time
Abstract
ZED has a solution that succinctly solves this problem for the remittance companies, offering a globally integrated network of licensed entities. .
The 21st century has seen more rapid migration than any other time in recent history with the pace exceeding that of population growth.
According to World Bank, global remittance hovers around $600B per year. Western Union and the next 3 top Money Transfer Operators (MTOs) control about 25% of the global remittance market.
TheZED offers a compliance-friendly solution enabling Money Transfer Operators to leverage leading blockchain technology and scale their business.
In the same manner that SWIFT connects banks together on a global basis, ZED Network will seamlessly connect licensed MTOs in multiple countries to become a single point of integration for multiple currency pairs.
other 75% (or $450B+) is spread among a long tail of thousands of small to medium-sized MTOs, many of whom are single corridor providers, unable to grow past their initial market and scale up to compete with the top 4 giants.
There are currently 250M+ immigrants that live in a country other than the one they were born in, a staggering 60% increase since 2000.
Cash Flow Issue
In addition to the banking challenges threatening MTOs, they also have a significant cash flow barrier. In order to settle cross border transactions, MTOs must hold currencies in accounts at various financial institutions around the world. This operational requirement ties up significant funds, creating an opportunity cost to run the business.
Technology Challenge
MTOs tend to have limited IT staff with inadequate technological resources . Many don’t even have a website or mobile apps despite high demand from their customers. What limited resources they do have are spent on compliance requirements
For small to medium-sized MTOs that can’t currently compete with larger MTOs, ZED is a Platform as a Service (PaaS) built on a distributed ledger that reduces costs and transaction friction.
We are creating a comprehensive money transfer solution that includes a wallet, a web app, mobile apps, and a robust back office with a suite of reports for compliance and monitoring purposes, available to MTOs on a Platform as a Service (PaaS) model, free of charge for the first year and at nominal costs in subsequent years.
At the heart of ZED Network is ZED currency which is a Cryptocurrency built on a mining-free, distributed ledger. There will be a maximum cap of 100B tokens authorized, 21 Billion of which will be sold to accredited investors and MTOs to buy and use solely for utility purposes of facilitating remittances worldwide.
Banking
In recent years, government regulations and compliance costs have created a toxic environment that is causing banks to shut down accounts of thousands of small to medium-sized MTOs.
Hence, MTOs are constantly worrying about their banking relationship, without which they could not survive.
Why ZED?
ZED is designed to reduce remittance costs by helping small to mid-sized MTOs compete more efficiently using blockchain technologies.
Technology
Cash-starved MTOs are spending most of their resources on compliance and maintaining their customer base with ever-decreasing margins. They therefore have no resources to invest in technological innovations, many of whom still have no website or mobile apps despite high customer deman
These circumstances have a negative impact on customers. At best, they endure high fees and low exchange rates. At worst, there is a complete disruption of money remittance service. For example, many Somalis in the United Kingdom were left with no way to send money back to support their
A Currency Primer
A currency is really an accounting system. Historically, currencies have been physical tokens that are taken as proxies for an asset. In modern times, currencies have evolved into pure accounting with neither physical tokens nor assets coming into play.
Currencies have value as a medium of exchange, and so they can have value even if they are not backed by assets. Being the issuer of a currency is an enviable position to be in, quite literally a “license to print money.” As such,, the world’s governments have generally claimed a monopoly on the practice, particularly in modern times.
People trust banks and, ultimately, the government, to insure that they will not wake up one morning to find the bank shuttered, the ATMs inoperable, and the balances on their bank statements worth less than the paper they are printed on — if indeed they are printed on paper at all nowadays. If one day your bank says it has no record of your account it is entirely possible that you could have no evidence in your possession to contradict them. Faith in the financial system is ultimately grounded in faith in the government to audit and regulate the banks.
WEB SITE: https://zed.network/
WHITEPAPER: https://docs.google.com/document/d/1aBhsROQL5Cz2om7Six4sGKPLeUiNNAqVT_u0Vju-quY/edit#
Facebook: https://www.facebook.com/zednetworkinc/
Twitter: https://twitter.com/ZEDNetwork
LinkedIn: https://www.linkedin.com/company/zednetwork/
ABOUT ME:
Bountyguru: https://my.bountyguru.com/bonus/b4lZf0xmj6JVfpKeNTQH
Profile Forum Link: https://bitcointalk.org/index.php?action=profile;u=1676480
Forum Username: sergey1301
Wallet Address: 0xdb23f26d4244117dd46ec78b5bc8afb5444200
