Overview of Atom Solutions
In a world where sending money across borders can feel like navigating a treacherous sea, Tokyo-based Atom Solutions has thrown out a life raft. This Japanese fintech company has unveiled a cutting-edge system to address the excessive price volatility associated with using cryptocurrencies for remittances, creating a buoy that could keep transactions afloat.
Understanding the Challenges of Traditional Remittances
For foreign workers, sending money home can resemble a game of chance. Traditional banking methods often come with hefty fees and delays. On the flip side, sending money via cryptocurrencies is like riding a roller coaster: exhilarating but potentially disastrous. Due to wild price fluctuations, the value of a remittance can drastically decrease during the process, leading to significant losses for sender and recipient alike.
The EVOR Solution: A Game Changer
Enter Atom Solutions and its Equivalent Value Overseas Remittance System (EVOR), aptly nicknamed the game changer. This innovative service is designed to smooth out the bumps and dips of remittance transactions, making it less of a financial rollercoaster and more of a scenic train ride.
Here’s how it works: Suppose a Japanese worker wants to send money to a family member in the Philippines. Instead of worrying about rates tumbling like a toddler at a garage sale, the sender can simply purchase cryptocurrency using Japanese yen. The funds then land safely in their relative’s wallet in their local fiat currency, thus minimizing the risks of currency exchange rates and fees.
The Speed and Efficiency of EVOR
Time is money, especially in the world of remittances. With EVOR, the swift execution of transactions is a game-changing feature. Atom Solutions emphasizes that this system offers the lowest possible costs globally, a feat made possible by its operations in varying currencies. Fast, efficient, and cheap? Now that’s a trifecta that no one could turn down!
Beyond Remittances: A Comprehensive Financial Ecosystem
But Atom Solutions isn’t just stopping at remittances. They are aiming for something much larger—a robust suite of financial services that bring practicality to crypto use in daily life. Their innovative spirit has also led to the creation of Eternal Coin (XEC), a digital asset that plays a vital role in the remittance process while allowing peer-to-peer lending—for those willing to earn interest on their money in what can only be described as a crypto friendly neighborhood!
The Growing Need for Reform
Why is EVOR necessary? The numbers speak for themselves! According to the World Bank, remittances to low- and middle-income nations hit a staggering $466 billion in 2017. That number only continues to grow, showcasing that these transactions are not just a matter of convenience but vital lifelines for many families worldwide. Atom Solutions aims to ensure that these lifelines aren’t weighed down by prohibitive fees.
The Future is Bright for EVOR
Set to launch in March 2019, the EVOR system is generating buzz and intrigue. Users are encouraged to test out the EVOR Simulator prior to the official rollout, giving them a preview of what could revolutionize their remittance experiences. With Atom Solutions leading the charge, the remittance landscape just might be on the verge of being redefined.
