Bric Coin project
The International Money Transfer business is growing rapidly day by day, which is a very important aspect of this project. So let's understand what is International Remittance? International Money Transfer provides a way to send funds to banks around the world using USD and EUR. For other currencies, you can convert to local currency after you receive the funds at the beneficiary bank.
For example, if you make an international remittance to Mainland China, the funds can be exchanged for RMB upon arrival at the beneficiary's bank. Generally, exchanges can be made via electronic channels of the beneficiary bank (online banking/mobile banking) It should be noted that foreign currency sent to Mainland China can only be settled into RMB within the equivalent limit of US$50,000 per person per year, and the balance must be deposited in domestic account in foreign currency.
So, here we can see that there are many limitations and limitations in International Money Transfer, so we created this unique concept with the help of Blockchain Technology. BRIC Coin is a TRC20 token supported by international remittances between BRIC countries (Brazil, Russia, India & China). The token will be used for cross-border transactions between BRICs.
Vision & Mission
To Provide the user-friendly platform for international remittance for BRIC Countries’ importers and exporters. To be the most trusted financial platform for global remittances all across the globe in the International Trades, Imports & Exports.
Imports & Exports in BRIC Countries
IMPORTS
The top imports of Brazil are Refined Petroleum ($12.4B), Vehicle Parts ($6.19B), Crude Petroleum ($4.35B), Integrated Circuits($3.83B), and Pesticides ($3.75B), importing mostly from China($36.3B), United States ($32.6B), Germany ($11.3B), Argentina($10.3B), and South Korea ($4.83B).
In 2019, Brazil was the world's biggest importer of Pesticides ($3.75B), Special Purpose Ships ($3.51B), Potassic Fertilizers($2.98B), Mixed Mineral or Chemical Fertilizers ($2.81B), and Phosphatic Fertilizers ($506M).
EXPORTS
The top exports of Brazil are Soybeans ($26.1B), Crude Petroleum($24.3B), Iron Ore ($23B), Corn ($7.39B), and Sulfate Chemical Woodpulp ($7.35B), exporting mostly to China ($63.5B), United States ($30.5B), Argentina ($9.85B), Netherlands ($9.13B), and Japan($5.58B).
The BRIC App
The BRIC App platform will be created for international trades among all the users.
Buyers and sellers can register on this platform to trade. Introducing an easy platform to trade using BRIC coins. Once the registration is done from both ends, the currency can be converted by the seller or buyer to BRIC coins from the nearest available exchange. It consists of three functions namely, sending, receiving and transferring. You can withdraw the money converted into BRIC coins directly from the exchange by using the received function provides barcode scanning option used to transfer BRIC coins to our server immediately. Now that that's done, what happens next is that buyers and sellers can communicate with each other through a feature called “chat box” where sellers and buyers can discuss trades and come to a conclusion. Once, they confirmed from both ends. The buyer can click "escrow" which says it will remain safe on our server until he receives the product. In case, he changes his mind or he plans to cancel the order due to damage to the product. In this case, he can file a "dispute" and then the admin enters the chat box to verify if the product is really faulty or he is trying to cheat. If the product is damaged, the product will be returned. And there's no way he can cheat because once you confirm the product is genuine, only then the server will release the coins, otherwise refuse the release.
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BRIC Coin Details
BRIC Coin is the token created on the Tron blockchain ecosystem for providing the facility to use escrow facilities without any third-party presence.BRIC Coin is the TRC20 token backed up by the international finance remittance of BRIC (Brazil, Russia, India & China) countries. The token will be used for cross-border transactions among BRIC. We chose these countries initially, as we know these are the most populated countries and we need a huge market to get launched. Although, 20% of world’s import/export is done by these four countries. So, we are starting our services for these countries and gradually we will increase the countries on our list.
Roadmap
For more information:
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Author: Bisland
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