Remit is a platform which automates cross border transactions and authenticates identity of the receiver
This is a case of Paul who is working in the United States and wants to send money in the Philippines automatically so that he won't have to worry about his family. Remittances are important source of income for families in 3rd world countries. On average, the charge for sending $200 is $14. This is where Remit comes in. Remit is a platform which seeks to drastically automate Paul's ability to send money as well as reduce the cost of cross-border transactions using Superfluid. Since Identity is also crucial for these transactions, we will be using Metamask and GUN API where the metadata will be stored in IPFS for Identity solutions.
How it's made
This project makes use of Superfluid in terms of the management of Cash Flow through upgrading the ERC 20 token to a SuperToken (in our case DAIx). In addition, since Identity is also very crucial in the remittance business, we used gun api which is fully decentralized and stored the metadata to IPFS.Technologies used