Payments

Current Problem - Global Payments

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

The global payments industry is fragmented

There isn't one network for global payments, and the existing underlying infrastructure is outdated and highly fragmented which results in poor outcomes for consumers

Payments are too
expensive

Third party institutions including banks, remittance networks and specialty transfer services such as Western Union charge high fees, often 10% or higher

Payments take too long to settle

Due to the highly fragmented nature of the current industry and lack of a global network, international payments currently take an average of 3-5 days to settle

Our Solution - IEC Cryptocurrency

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.

Target Market

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.

IEC Advantages vs Other Digital Assets

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

ASSET SPEED COST SCALABILITY
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
Traditional 3-5 days