Mosendo is money set free. 💸
The future is frictionless money. Money that flows freely across the world as across the room. Money that empowers people to improve their own lives, that plugs into the world's financial system as a right that is given to everyone because they are a human.
Here, you can understand how the business has been designed to make this vision a reality.
Mosendo's solution is a mixture of three critical ingredients. It is the combination of these three that forms the Mosendo solution. Other projects have one or two of these ingredients to varying degrees, but Mosendo is the first to combine all three:
These three plays, when combined, make the key to unlock money for the world.
https://www.youtube.com/watch?v=UiWMH6EAPqg&feature=youtu.be
There is a complicated web 🕸️ of regulation that entangles entities that qualify as "money transmitters." The early story of banking was that banks were formed to address the cost of moving physical metals from one place to another: it was expensive and risky. As these banks took possession of the gold for transit, it required contractual trust enforced by government.
Today, banks and remittance services are money transmitters that take possession of the money when sending it, and the money must pass between multiple organizations (bank > remittance service > recipient bank.)
For each transfer, the system must be designed to eliminate counterparty risk by making sure a transaction "clears," and each time incurs a fee and a delay. These processes are regulated, in the best cases to ensure effectiveness and in the worst cases to surveil or rent seek.
If there had been a magic way to warp physical metal from one location to another instantly, there would have never been need for banks.
The crux of the regulatory landscape is that sending money requires compliance with Money Transmitter Laws. These regulations are strict and include that money transmitters must collect KYC and comply with all variety of regional regulations, including capital controls. In the case of unaccountable governments, this often means transfers are taxed to unreasonable levels.
On May 19, 2019, the U.S. Treasury Financial Crimes Enforcement Network released a 30-page document clarifying regulations about cryptocurrency. In this document, they establish that "unhosted wallets" will not be considered money transmitters: