According to the World Bank in 2017 international remittances to developing countries rose by 8.5% to $466 billion.
Send Token is a new digital token targeting the lucrative international remittance market. Here we will look at the background of Send and how it aims to provide stability for international remittance.
Background to Send
The Send team have been involved with the world of cryptocurrency since 2013. They began by designed and installing Bitcoin ATMS in the US, Europe and South America.
One of the interesting discoveries from this period is that areas with large migrant population tended to coincide with higher than average Bitcoin transaction volumes. Looking deeper it was clear that migrant communities were using Bitcoin to transmit funds internationally.
The Benefits of Crypto for Migrants
Cryptocurrencies like Bitcoin have some significant advantages for migrants. This includes circumventing currency controls, lower transaction fees and faster remittances. Despite the benefits that cryptocurrencies offer for remittances they are still not widely adopted by communities.
The Challenge Of Volatility
One of the biggest challenges for crypto being used for remittance is volatility. Crypto currencies are relatively volatile. This means that someone sending funds cannot be sure that their family will receive the same value. The crypto markets are still primarily being driven by speculators not be normal users like those needing remittance services.
Send’s Solution To Volatility
Send has developed a solution to the problem of volatility be creating semi-stable digital currency. In essence the Send Token (SDT) is stable for a set period of time. This provides a window where users can be sure about the real exchange rate of SDT. This price is set by the amount of transaction volume and liquidity on the Send network.
Send Token Sale
SDT is being distributed through a public token sale. The details of the SDT token sale are as follows:
Length of token sale: 365 days
Start date of token sale: Q3 2018
Payment method: ETH
Duration of token sale: 365 days
Start price: $0.20 USD = 1 SDT
Maximum price: $20 USD = 1 SDT
Bonuses: Up to 10%d
Send Website: https://www.sendprotocol.com/
Send Whitepaper: https://www.sendprotocol.com/documents/whitepaper.pdf
Send Twitter: https://twitter.com/sendprotocol
Send Facebook: https://www.facebook.com/SendProtocol/
Send Telegram: https://t.me/joinchat/F3htKg7MOesED8NTNBHn9A