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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 PaaS model, free of charge for the first year and at nominal costs in subsequent years.
At the heart of ZED Network is ZED token which is built on Stellar's mining-free, distributed ledger.
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., Canada (and a few other countries with similar designations) and perform Know Your Customer (KYC) on each ZED token investor. Furthermore, any exchanges offering ZED in the future 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.