ZED Network Strives to Boost Developing Countries' Economies By Eliminating Remittance Fees

[Dario_o]

Like most crypto- and blockchain-enthusiasts, Alan Safahi first became familiar with Bitcoin after reading Satoshi Nakamoto’s now-infamous whitepaper. In the years following, he would incorporate Bitcoin purchasing into his former startup, ZipZap, and serve as an advisor to blockchain companies such as Ripple, the decentralized payment network that also created a virtual currency. In a natural next step, Safahi’s current company combines his expertise in both blockchain and financial services.

ZED Network uses blockchain technology to provide a compliant, instant settlement platform for money transfer operators (MTOs). The ZED blockchain uses tokens to record on a distributed ledger assets held, transferred, or received by client MTOs. Doing so removes the need for banks to serve as intermediaries, and MTOs can receive tokens that can be instantly converted to funds in their local bank account .

 

https://startupheretoronto.com/partners/uoft/creative-destruction-lab/zed-network-strives-to-boost-developing-countries-economies-by-eliminating-remittance-fees/