The Current State of Remittance Prices
As of Q2 2017, the global average cost of sending remittances stood at 7.32%. While that’s a slight improvement from Q1’s 7.45%, it’s still a punch to the wallet, especially for folks sending money home to loved ones in poorer nations. Ironically, traditional banks that are supposed to be our allies in finance are the most expensive option, averaging a staggering 10.99%. At this rate, sending money feels more like donating to a cause – an expensive one at that!
Enter Transmission: A New Hope?
Just when you think your wallet can’t take any more hits, Transmission steps onto the scene, promising to shake up the remittance world. Moving away from the head-scratching complexities of existing services, Transmission is gearing up for an Initial Coin Offering (ICO) slated for late August 2017, hoping to raise funds to make that dream a reality.
The TMN token, which will be part of the ICO, comes with some eye-popping bonuses. For those feeling particularly generous, a 50% discount on the first 10,000 ETH invested should entice early birds. Treat yourself – your wallet might even thank you (eventually).
What’s in It for Investors?
Mike Gorden, the CEO of Transmission, believes that investing in this ICO isn’t just a public service – it’s a golden ticket! According to him, the growing volume of transactions will not only increase token holder incomes but also add value to the system’s capitalization. Want a piece of the action? It turns out, tokens will stoke the flames of the ecosystem and act as currency. So yes, it’s not just a pretty face – there’s real potential behind it!
Why Does Transmission Stand Out?
Let’s be blunt – there’s no shortage of players in the remittance game. Western Union, MoneyGram, and countless other services have been at it for years, often at a high price. But Mike insists that Transmission can beat the competition by drastically lowering transaction fees – think of the cost savings as a spirited buffet at a restaurant that actually serves you food you want to eat.
He explains that traditional systems force high costs because they have to maintain numerous international offices. Transmission seeks to obliterate those unnecessary expenses by leveraging a Bitcoin-powered system, allowing for smooth transactions without the baggage.
The Future Is Bright (and Cryptographically Safe)
The potential surge in cryptocurrency circulation over the next four to five years could make the profits from buying and selling crypto assets rival traditional transfer methods. With their game plan, Transmission aims to provide a competitive edge with far lower fees than traditional methods – think three to five times lower!
Lambda-carry your wallets, friends! If all goes well, Transmission will not only revolutionize remittances for consumers but also challenge how investors and customers perceive value in international money transfers.
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