Transmission, a global electronic multi-currency transfer platform, has recently announced to launch its TMN Token Crowdsale on August 30, 2017. A huge revolution in conventional currencies transfer and conversion systems is expected to be seen. The platform has included cryptocurrencies’ transfers and conversions for the network users, with an aim to lead the promising currency transfer market growing by 30-50% annually.
Currency transfers are now one of the biggest global directions of cash flow. Previous year was remarkable, with total volume of these transactions as more than $150 trillion. The volume of all transfers, on the private individual basis, was estimated as $3 trillion a year.
Uber is one of the fastest growing and most successful global IT firms having a capitalization of more than $60 Billion & revenue of $6.5 billion. The company targets one of the most lucrative markets of today i.e. the taxi market characterized by an annual growth rate of 10-20%. Uber model is highly reflected in that of Transmission but in the area of global money transfer. The size of the market is $3 trillion per year, apart from popular and an ever growing market for crypto-currencies that shows growth potential of 30-50% a year.
The traditional currency transfers models involve a complex currency movement i.e. transfer of currency to bank’s branch, conversion of currency (if required), transfer of money between two banks’ correspondents and eventually, the transfer of money by the bank to its account. This process is full of delays while involving transaction expense of about 5-10% for the users.
Transmission takes and shapes this process with a different approach. Transmission’s new concept is based on the fact that funds users need in the fiat or cryptocurrencies are already in locations where platform’s system is open to its service users. The platform creates money or its contemporary embodiment in the shape of currency as a mode of exchange.
Users exchange with Transmission service or their other clients directly, removing all potential delays and costs for currency transfers and conversions. This makes transmission services fee incredibly lower; no more than 1% of a transaction.
If Uber is unprofitable because of high competition and needs to decrease the transportation of cost below business cost, the business related to currency transfers is profitable and able to generate net income streams even from the initial stage of operations.
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