SureRemit
SureRemit
Token: RMT


An ecosystem for global non-cash remittances

PreICO dates
Start date: 8th Dec 2017
End date: 5th Jan 2018

ICO dates
Start date: 2018-01-10
End date: 2018-02-10

Registrated in: USA

Platform: Stellar

PREMIUM ICO

https://token.sureremit.co/ Screenshot
SureRemit categories
Cryptocurrency Platform Retail
Video
SureRemit token sale
KYC passing required No | Whitelist No | Restriction for countries No
Token distribution in ICO
50%
50%
Price 1 USD = 50 RMT
Acceppting XLM, ETH, BTC, LTC
SureRemit news, social
SureRemit search trends in Google
Random whitepaper excerpts

CONTENTS
Disclaimer
1
Executive Summary
2
Problem
3
Remittance Market
4
Use of Remittances
4
Current Transaction Flow
5
Future Transaction Flow
6
Opportunity with Cryptocurrency
7
The SureGifts Network
8
The SureRemit Token
9
Why Blockchain
9
Stellar
+
SureRemit
10
Why Not BTC or ETH
11
SureRemit Features
12
Remittance Transaction Flow
13
User Acquisition
14
Customer Acquisition
14
Merchant Acquisition
14
Timeline
15
Token Sale Terms
16
Team
17
Investors
18
Advisors
19
Company
20
Conclusion
21
An Ecosystem of Merchants for Global Non
-
Cash Remittances
...

DISCLAIMER
THIS WHITE PAPER IS INTENDED TO PRESENT RELEVANT INFORMATION TO POTENTIAL REMIT PURCHASERS
(
PURCHASER
)
IN
CONNECTION WITH THE PROPOSED GENERATION AND SALE OF REMIT
(
TOKEN ISSUANCE
),
INCLUDING INFORMATION ABOUT
THE UNDERLYING SOFTWARE APPLICATION AND BLOCKCHAIN PROTOCOL USED TO CREATE AND DISTRIBUTE REMIT
(
REMIT
SMART CONTRACT
)
AND THE REMIT ECOSYSTEM
(
TOGETHER WITH THE REMIT SMART CONTRACT
,
THE REMIT PLATFORM
).
THE
INFORMATION CONTAINED IN THIS WHITE PAPER IS NOT INTENDED TO BE EXHAUSTIVE AND THE STATEMENTS INCLUDED IN
THIS WHITE PAPER ARE NOT INTENDED TO CREATE A CONTRACTUAL RELATIONSHIP
.
NOTHING IN THIS WHITE PAPER SHALL
BE DEEMED TO CONSTITUTE A PROSPECTUS OF ANY SORT OR A SOLICITATION FOR INVESTMENT
,
NOR DOES IT IN ANY WAY
PERTAIN TO AN OFFERING OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION
.
THIS D...

EXECUTIVE SUMMARY
There are about 250 million immigrants
1
in the world sending over
$
600bn to support their friends and families back home every
year
2
.
The remittance market is a significant source of funding for many individuals and families across the world
.
Recipients of
remittances
,
particularly in emerging markets
,
rely on this income for basic needs like food
,
clothing
,
medicine
,
utility bill
payments
,
among other needs
.
Immigrants face two significant challenges when executing cross
-
border and local money transfers
:
Firstly
,
the cost of remittances is punitively high
.
Transferring money via banks and traditional international money transfers
operators could cost from 7
-
12
%
of the value transferred
.
Over the past decade
,
new digital remi...

PROBLEM
COST
The cost of remittances has been traditionally high
.
A
$
200 remittance to Latin America cost nearly 10
%,
and some
remittance corridors in places like Africa continue to have even higher fees
.
Remittances have such an important
role to play in the support of lives
,
that the cost of facilitating them has been a major strategic focus for multilateral
development organizations like the United Nations
.
The Sustainable Development Goals
,
effective from January
2016
,
includes a target to reduce the cost of remittances to less than 3
%
by 2030
.
3
FIGURE 1
:
15
Average remittance
price worldwide
(
2015
)
as
%
of amount sent
.
10
Source
: '
Remittance
Prices Worldwide
',
Issue No
.
16
,
Dec
'
15

REMITTANCE MARKET
Remittances are a key contributor to global Gross Domestic Product
(
GDP
)
in many countries and can stabilize household
income in the face of adverse income shocks
.
The Bank of Mexico reported that money sent home by Mexican immigrants was
nearly
$
24
.
8 billion in 2015
,
overtaking oil revenues as a source of foreign income for the first time
.
6
Remittances to Nigeria
exceed
$
20bn
.
Over 40
%
of Somalis rely on remittances to meet basic daily needs
.
7
Remittances tend to be a steady source of
earnings that don

t falter when other parts of a domestic economy might be affected
.
FIGURE 3
:
Survey results about use of remittances by 240 Respondents In Guyana
Savings
14%
Business
8%
Food
27%
Education
15%
Real Estate
16%
Clothin...

CURRENT TRANSACTION FLOW
FIGURE 4
:
Traditional remittance transaction flow
,
participants and requirements
SENDER
IMTO
BANK
/
SUPER
-
AGENT
SUB
-
AGENT
RECIPIENT
MERCHANT
Wallet
Bank
Card
Cash
KYC
/
ID
Licence
Payment Gateway
Fiat Liquidity
Fraud
Prevention
/
AML
Licence
Fiat Liquidity
Licence
Fiat Liquidity
Security
KYC
/
ID
Bank Account
Security
Inventory
Sender
Senders hold cash
,
debit
/
credit cards
,
bank accounts and mobile money wallets
.
They require any of these and fulfill the
elaborate KYC requirements of banks and international money transfer operators in order to fulfill regulatory requirements of
money transfers
.
The KYC requirements can also vary depending on the location o...

FUTURE TRANSACTION FLOW
FIGURE 5
:
Remittance transaction flow leveraging cryptocurrency and digital payment vouchers
SENDER
RECIPIENT
MERCHANT
Wallet
Bank
Card
Cash
Cryptocurrency
Exchange
Ledger
Mobile Phone
Voucher
/
Pin
Inventory
Redemption
System
Sender
Senders hold cash
,
debit
/
credit cards
,
bank accounts
,
mobile money wallets
.
They simply need to acquire the Remit
cryptocurrency and use that to purchase vouchers with attributes such as merchants and value assigned
.
Elaborate KYC
requirements are not required to purchase closed
-
loop digital shopping vouchers
.
Cryptocurrency
The Remit coin is the currency that is used to acquire digital shopping vouchers
.
The currency can be purchased with fiat or
with other cryptocurrencies
.
Recipient
...

OPPORTUNITY WITH CRYPTOCURRENCY
SPEED
Digital transactions with the Remit coin can be completed in seconds regardless of where the sender and receiver are in the world
.
There are more mobile phones than there are people in the world
.
A mobile app can enable remittances to be sent and received
instantly
.
Recipients can receive value via SMS or e
-
mail
.
COST
&
FRAUD
With banks and other intermediaries removed from the remittance process
,
the senders of value can connect their recipients directly to
the merchant where the value resides
.
Transaction costs will be reduced to the minimum
.
Lowering of remittance costs could increase
9
remittance volumes and lift over 30 million more people out of poverty according to the UN
.
Fraud is also a major factor impeding the
deployment of platforms such as SureRemit on existing debit
/
credit card services
.

SureRemit Roadmap

1
2014
SureGifts Launched in Nigeria
Reached 100 Redemption Points
2
2015
Launched in Kenya
Crossed 500 Redemption Points
3
2016
Crossed 50,000 Transactions
Joined 500 Startups
4
2017
SureRemit Concept Development
Whitepaper Released
Pre-sale
5
2018
Token Generation Event
Beta App Release/Marketing Drive
Expansion to Middle-East and India
Full App Release
Expansion to Latin America and SE Asia
Eray Altili
Advisors Eray Altili

Nathan Windsor
Advisors Nathan Windsor

Maomao Hu
Advisors Maomao Hu

Charlene Chen
Advisors Charlene Chen

Dickson Nsofor
Advisors Dickson Nsofor

Adeoye Ojo
Team Adeoye Ojo Sales Operations

Olaoluwa Samuel-biyi
Team Olaoluwa Samuel-biyi Remittances

Rayane Hocine
Team Rayane Hocine Chief Digital Officer

Babafemi Lawal
Team Babafemi Lawal Technology Operations

Michael Adeyeri
Team Michael Adeyeri Software Engineer

Zeeshan Mallick
Zeeshan Mallick
CMO
Chief Marketing Officer
Marketing Advisor (Europe)
Dickson Nsofor
Dickson Nsofor
CEO & Co-Founder
Head of Global Institution
CO-FOUNDER & CEO, KORA
CO-FOUNDER & CEO, KORA
Maomao Hu
Maomao Hu
COO & Co-Founder
MaoMao Hu
MaoMao Hu
CO-FOUNDER & COO, KORA
CO-FOUNDER & COO, KORA
Nathan Windsor
Nathan Windsor
Community Manager