A number of problems exist within the current global payments system which result in many pain points for consumers who send and receive money across international borders:
Investment Evolution Coin (IEC) was created to solve the numerous problems faced by consumers when making international payments and sending or receiving money across borders.
To achieve this, we have created the IEC cryptocurrency with a high supply of coins, extremely fast transaction speeds, a highly scalable network and low transaction costs at only a fraction of a cent per transaction.
IEC has several key advantages vs other major digital assets such as Bitcoin and Ethereum, which make it a much better solution for global payments:
|IEC||2-5 seconds||$0.01 will pay for 300,000 transactions||3000 TPS|
|ETH||2+ minutes||$1.13 per transaction||15 TPS|
|BTC||1+ hours||$18.75 per transaction||3-6 TPS|
Investment Evolution will initially focus on using IEC for global payments to the Philippines market, which is the third biggest remittance-receiving country in 2017 after India and China, with $31.29 billion USD received in 2017 per Bankgo Sentral ng Pilipinas (BSP) data. This accounted for 10% of GDP and 8.3% of GNI for the Philippines in 2017.