Local Remit

Trades executed using the Local Remit marketplace are confidential via end‐to‐end encryption and unlike traditional over‐the‐counter platforms, the escrow mechanism is decentralized.The only time the escrow arbiter can step in and transfer cryptocurrency is if it receives explicit digital permission to resolve a dispute but even then the smart contract code only allows the arbiter to transfer escrowed cryptocurrency to one of the parties. When Local Remit goes live we will start by listing the following cryptocurrencies for trading; Bitcoin, Ethereum,Bitcoin Cash, Litecoin,EOS and our native Token LRT. All transactions on Local Remit will have a small transaction fee that will be paid for with our Native Utility Token to avoid crypto dust left in User’s wallets.

Although the number of cryptocurrency exchanges has grown, there has been little progress in eliminating trust from cryptocurrency on‐boarding. Instead, blockchain financial innovators are replicating the vulnerable systems of Wall Street stock exchanges and banks — the same systems that provoked the global financial crisis and the same systems that motivated the genesis of Bitcoin.

The prime advantage of cryptocurrency over fiat is the elimination of the need for an intermediary. Instead of relying on an institution to keep a record of your balance (i.e. a bank), blockchains use a distributed ledger of transactions verified by a large network of computers. The result is that it’s impossible for anybody to access your digital wallet without possession of your secret key, regardless of other circumstances. As long as your wallet’s private key is kept secret, your cryptocurrency is secure.
 The environment is ripe for peer-to-peer cryptocurrency marketplaces and some of our predecessors have succeeded in this field with very little effort because of the regulatory difficulties of converting Fiat to Crypto in almost every jurisdiction in the world.