It is worth noting that in cases of money transfer, a migrant worker who for instance has to send INR 25000 from Dubai to India is likely to pay hefty amount as transaction fees, as well as currency conversion, using existing money remittance service. If the user sends it over the SWIFT channel, the receiver might need to wait for 2 to 4 working days. In other cases, there are hard limits to send money from one country to another if it is above thresholds set by the central banks in every country. Using zaGaz – a uniquely created hybrid 5 tier blockchain solution,the migrant worker can send the funds to anyone, who is already part of the system by virtue of being KYC verified. The transaction will occur within 2-3 minutes using the ZAGAZ Blockchain solution 24x7x365. It also doesn’t involve any money exchange or transfer of FIAT outside the country. Moreover, the hacking and security problems are avoided by using a unique mapping mechanism.

Creating a win-win situation by working with banks, zaGaz strives to provide a seamless experience to make transfer and remittances at a

negligible transaction fees, convenient, fast and reliable. “We are powering through and target to get a tested and verified product to the world before end of July. We have a technical road map with a technology improvement plan within the platform itself, which enables us to upgrade or bring in changes with the platform on-the-go,” speaks Ajesh Mani, CEO, zaGaz.

zaGaz strives to provide a seamless experience to make transfer and remittances at a negligible transaction fees, convenient, fast and reliable.

Unlike the other players in the marketwho goes for an ICO first and then launch their service, zaGazhas a clear vison to go live into the market with their product and later do the ICO for business expansion.

The Genesis of zaGaz
They say everything happens when it’s meant to happen. Such is the founding story of zaGaz. “Sudeep was in the UAE, I was in the United Kingdom and Sanjay was in Sultanate of Oman when the ideation of ZAGAZ happened. We had been always discussing various business avenues to work on, together. Over a period of 10 years of friendship and discussing around 8 unique business ideas, ZAGAZ Pvt. Ltd was the one that we could envision of making a lasting impact & providing next generation technology to the world,” mentions Ajesh.

The ideation as a process took around 6 months to see the clear vision in terms of technology use cases and dependencies, in sync with the business model of cross border money transfer. Since then, there was no looking back.zaGaz, now is all set to develop an entire ecosystem from the scratch in order to comply with all the regulatory policies.

Leveraging Cross Border Money Transfer
Enabling users,a convenient international money transfer process, zaGaz offers tokens to users who are KYC, AML, CFT compliant While others implement KYC at the exchange, zaGaz implements KYC on the blockchain level. Each transaction happens through a linked bank account,so that there will be legitimate, traceable,verified transaction while buying or selling of our digital token. Ajesh informs,“Our token value is regulated and backed by a real-world functionality. We create them using a unique on demand generation algorithm thereby removing the delays associated with mathematical complexities for confirmations”.

He further adds, “Our platform is interoperable through our API with any platform, the users of our API can encode the content inside of our blockchain and retrieve it with their code whenever they need.” ZAGAZ blockchain API would soon be available for other industry application, such as SCM, Healthcare, Fintech and Banking, and others as, Blockchain as a Service/BaaS.