Third-generation trust-based multi-dimensional blockchain platform, YGGDRASH, has entered into a partnership with a blockchain powered open market remittance platform, REMIIT.
At the signing ceremony, representatives from both companies met to share and discuss the technology, vision and direction between the two companies. In particular, they focused on the overseas remittance sector within the ecosystem of YGGDRASH.
YGGDRASH is a South Korean project developing a blockchain platform that enables the blockchain experience in everyday life by solving the problem of speed and capacity. The YGGDRASH Project hosted its second meet-up in Seoul, South Korea on the 23rd. At the event, YGGDRASH announced the launch of an Incubation Center, which funds the growth of various dApps and various start-ups. Also announced was the establishment of a profit-sharing exchange.
REMIIT is a blockchain powered open market remittance platform that uses smart contract to reduce network complexity. The REMIIT Token is a unified stable token that lowers trust cost of transitions, which is much more advantageous solution compared to distributed IOU series. The REMIIT Project has developed deep research into the blockchain based remittances space and token economics. It will be holding an Initial Exchange Offering on Coinis at 10AM on the 27th of November.
CEO of YGGDRASH David Seo mentioned, "REMIIT's remittance platform is full of potential," and "I felt a great deal of interest in REMIIT's abundant operating know-how in the overseas remittance industry and high understanding of the overseas remittance market." He also stated, "We will strengthen the overseas remittance sector together with REMIIT in the YGGDRASH ecosystem. "
REMIIT's CEO, Stevie An on the partnership: "Following the partnership with the HYCON eco-system overseas remittance service agreement, the strategic business agreement with YGGDRASH and the monopoly agreement for overseas remittance have secured the competitiveness of REMIIT's overseas remittance platform," and that "We will actively exchange technology and business infrastructures owned by the two companies to create synergies, which will lead to the global success of the overseas remittance platform of REMIIT."
The potential to enable overseas remittances to significantly reduce the cost, complexity, and increase the speed of trading and settlement processes in a secure manner, has garnered interest from the biggest names in blockchain technology. The path to its adoption will require resolving issues in the distributed IOU systems which many blockchain remittance projects implement. However, despite the hurdles that lie ahead, REMIIT stands at the forefront by developing a fast adopting remittance platform. With the help of YGGDRASH, it is expected to expedite the development and bring in greater transparency and efficiency.