BitShares Forum
Other => Graveyard => Bitspark [closed] => Topic started by: BitsparkLtd on May 11, 2018, 09:52:56 am
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Spark recently completed the RemTech International Money Conference hosted in Malaysia. Largest update from event is 3 money transfer operators have signed on to pilot Spark's cash in, cash out crypto remittance platform. The pilot will consist of 100k daily txn per provider with eventual ramping up. More updates on @BitsparkLtd on twitter and $ZEPH telegram https://t.co/NJHzXktXYu
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Cool.
If they throw an extra 300k tps in total every day, we will see quite some traffic on chain.
Can you elaborate on *what* they actually transfer? They do need a token of some sort.
What kind of information can you give us on the banking side of this.. Can you name those money transfer operators publicly?
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Cool.
If they throw an extra 300k tps in total every day, we will see quite some traffic on chain.
Can you elaborate on *what* they actually transfer? They do need a token of some sort.
What kind of information can you give us on the banking side of this.. Can you name those money transfer operators publicly?
Exactly. When Spark's full system is up and running we will be seeing a lot more volume on the chain. Currencies being used are HKD, IDR, PHP, EUR & USD, we are cash in and cash out so on tokens are involved except when users transact and are rewarded our ZEPH. As for the banking side, there is none. Spark accepts cash from MTOs to buy bitcoin for MTO balances. Balances are then pegged for their remittances from end users. As for the MTOs we will be making a report of the pilots public after the period of testing. More updates will be available here https://t.me/joinchat/BQS59kQMk8Zkscos9idsgg
We also just launched a closed beta test for our App-> https://steemit.com/bitshares/@bitspark/sendy-closed-beta-available-now
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Spark accepts cash from MTOs to buy bitcoin for MTO balances.
Could you elaborate? What's an MTO?
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Here is a snippet from our latest blog (https://steemit.com/bitshares/@bitspark/sendy-closed-beta-available-now) on what an Money Transfer Operator or MTO for short is ;
What are money transfer operators? Money transfer operators are businesses that support overseas cash transfers by accepting cash from a sender and dispersing cash to the designated receiver.
Spark provides a cash in, cash out remittance platform for them that uses crypto for transactions. It's bankless with better rates and has traditional cash out locations like Pawnshops, convenient stores, bank accounts and ATMs which end users prefer. We launched a mobile app called Sendy too for our complete strategy.
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Thanks for the quick reply!
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Spark recently completed the RemTech International Money Conference hosted in Malaysia. Largest update from event is 3 money transfer operators have signed on to pilot Spark's cash in, cash out crypto remittance platform. The pilot will consist of 100k daily txn per provider with eventual ramping up. More updates on @BitsparkLtd on twitter and $ZEPH telegram https://t.co/NJHzXktXYu
So what’s the alternative to Bitcoin for businesses? Well, the answer lies in the reason a business needs a blockchain. Since Bitcoin’s inception, it has paved the way for a new industry of blockchains with 1,000+ cryptocurrencies built on top of them all with unique use cases ranging from privacy, governance, finance and data transaction.
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Cool.
If they throw an extra 300k tps in total every day, we will see quite some traffic on chain.
Can you elaborate on *what* they actually transfer? They do need a token of some sort.
What kind of information can you give us on the banking side of this.. Can you name those money transfer operators publicly?
startups and organizations began researching, developing and implementing its use case (some in practice and others in testing) with particular focus on cryptocurrencies as a means to transfer transactions internationally for a fraction of existing prices.
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Cool.
If they throw an extra 300k tps in total every day, we will see quite some traffic on chain.
Can you elaborate on *what* they actually transfer? They do need a token of some sort.
What kind of information can you give us on the banking side of this.. Can you name those money transfer operators publicly?
Exactly. When Spark's full system is up and running we will be seeing a lot more volume on the chain. Currencies being used are HKD, IDR, PHP, EUR & USD, we are cash in and cash out so on tokens are involved except when users transact and are rewarded our ZEPH. As for the banking side, there is none. Spark accepts cash from MTOs to buy bitcoin for MTO balances. Balances are then pegged for their remittances from end users. As for the MTOs we will be making a report of the pilots public after the period of testing. More updates will be available here https://t.me/joinchat/BQS59kQMk8Zkscos9idsgg
We also just launched a closed beta test for our App-> https://steemit.com/bitshares/@bitspark/sendy-closed-beta-available-now
Bitshares is superior to Bitcoin for payments due to what is needed in cracking the remittance industry with blockchain. Besides having an expansive cash-in, cash-out network, predictability of fees, fast transfer speeds and access to liquid exotic currencies outside of major FX pairs is not something that Bitcoin can provide.
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Here is a snippet from our latest blog (https://steemit.com/bitshares/@bitspark/sendy-closed-beta-available-now) on what an Money Transfer Operator or MTO for short is ;
What are money transfer operators? Money transfer operators are businesses that support overseas cash transfers by accepting cash from a sender and dispersing cash to the designated receiver.
Spark provides a cash in, cash out remittance platform for them that uses crypto for transactions. It's bankless with better rates and has traditional cash out locations like Pawnshops, convenient stores, bank accounts and ATMs which end users prefer. We launched a mobile app called Sendy too for our complete strategy.
Bitshares removes remittance providers’ reliance on banks or expensive liquidity providers such as OTC, brokers or exchanges for access to currencies with its smart asset creation functionality. Furthermore, with its built-in decentralized exchange, direct currency trading of exotic currencies is made possible without hedging USD making trades for exotic currencies cheaper with direct native currency trading.