About Rate3.network
Rate3 is a decentralized protocol for cross-border payment and credit scoring.The RTE token will be the native cryptocurrency used in a new global e-commerce ecosystem to help consumers, merchants, suppliers and other participants transact efficiently, cheaply, securely and quickly.
Basic Information
| Token Name | Rate3 |
| Token Symbol | RTE |
| Social Media | |
| Soft cap | 20,000 ETH (4,200,400 USD) |
| Hard cap | 25,000 ETH (5,250,500 USD) |
| Language | English |
| Resection | China, South Korea, United States of America |
| Country | Russia |
| Whitepaper | Click Here For View Whitepaper |
| Website | Click Here For View Website |
High processing fees and processing time
Cross-border interchange and transaction fees are higher than domestic fees, often resulting in an additional 3-5% on top of the total purchase amount. This is due to the increased number of intermediaries involved: payment gateways, correspondent banks, currency exchanges, financial messaging networks who take a cut of the transactions.
Trust and reputation problem
Building trust is difficult, and trust is centrally governed by big marketplaces now. There is an inability to transfer trust from one centralized service to another, and thus a need to establish relationship with each merchant separately. Moreover, a merchant or consumer’s history is not properly recorded.
Features
Single Token Payment Solution
Cross-border payments within the ecosystem can be completed with only one step and a one-time fee, making them up to five times cheaper and a thousand times faster compared to current payment processes. For consumers, they can convert fiat currency to Rate3 tokens easily.
Transaction and Credit Scoring System
The blockchain will record information captured in all transactions including but not limited to: time required to make the transaction, wallet addresses, warranty conditions, delivery time, reviews, etc. Apart from helping both consumers and merchants solve claims or fraud, the smart contract will automatically change the trust level for each of the parties involved.
Incentive System for All Participants
The value of any ecosystem lies in the two-sided network effects. With more consumers in the ecosystem, merchants are more attracted to join the Rate3 network. Likewise, with more merchants, there are better incentives for consumers to join.
Video
| Member |
Jake Goh CO-FOUNDER & CEOLim Jing Rong CO-FOUNDER & CTODavis Gay CO-FOUNDER & CTOAlbert Ho COUNTRY LEAD |
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