This projects deserves our attention. It has good idea, good product and good opportunity.. I will support and promote this project.
Indeed! the team takes a lot of time to plan and develop their platform based on the problem of any MTO's that they are facing today especially the slow transaction with an expensive fees.
My friends and family also having trouble with these money remittances so I hope that once the ZED platform is available more and more MTOs will use it because it benefits them and their clients.
Indeed, many can benefit specially to those who have incountered failure of money transferring also remittances. With Zed network it will make easier,fast and transparent the transactions.
How much will remittances be when done on the ZED platform? Will the cost rise over time or will it be constant?
The average fee for cross‐border transfer is now about 7 8% of the amount. ZED transactions require no mining and cost 1% or less. If the transaction costs on remittances worldwide were cut from an average of 7 8% percent to an average of 2-3% percent, it would unlock billions of $ a year only in poor countries.
That's correct although 1% or even 2-3% still sounds like a lot of money for remittances. Every single time money is sent the protocol sucks that portion out of the economy. It's not like that is equal to almost non-existent friction, which is what many envision.