We are creating a comprehensive money transfer solution that includes a wallet, a web app, mobile apps, and a robust back office with a suite of reports for compliance and monitoring purposes, avilable to MTOs on a SaaS model, free of charge for the first year and at nominal costs in subsequent years.
In time, ZED wallet will essentially become the bank account for these MTOs that will pay their payout partners, suppliers, employees and contractors using ZED.
At the heart of ZED Network is ZED currency which is a Cryptocurrency built on a mining-free, distributed ledger. There will be a maximum cap of 38B tokens authorized, 8 Billion of which will be sold to accredited investors in the U.S. and Canada as well as verified investors in other select markets worldwide.
Upon close of the token sales, ZED will also be available to MTOs to buy and use solely for utility purposes of facilitating remittances worldwide.
In the same manner that SWIFT connects banks together on a global basis, ZED Network will seamlessly connect licensed MTOs in multiple countries to become a single point of integration for multiple currency pairs.
Some of the features of ZED Platform include:
- Decentralized Platform - Zed Network is built on a network of servers all over the world and validators will be run by community members external to Zed Platform. These servers are maintained by different individuals and entities. If ZED Network were to disappear, the network would continue to confirm transactions, and anchors could still integrate with the network at any time.
- Distributed Ledger- ZED Network is built on a consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites, countries, or institutions. There is no central administrator or centralised data storage.
- Risk Mitigation- ZED is not an anonymous currency. We will target accredited investors in the U.S. and Canada only and perform Know Your Customer (KYC) on each ZED token investor. Furthermore, exchanges offering ZED will be required to perform KYC validation for each ZED token user. Every transaction on ZED is encrypted and recorded on a blockchain that traces back to the genesis block.
- No Mining - ZED Network does not require mining, therefore transactions are faster and cheaper that BTC and ETH.
- Currency Fluctuation- ZED is a free flowing currency. However, we employ hedging strategies to alleviate any currency fluctuation risks for remittances initiated with ZED for a duration of time which allows recipient to convert their ZED currency into other crypto or fiat currencies of their choosing which usually takes only minutes with little to no hassle.