all.me ready to assist in increasing transit potential of Eurasian Economic Union

all.me is ready to assist in the successful implementation of our system and in increasing the transit potential of the Eurasian Economic Union (EAEU), Chairman of the Board of Directors of the all.me group of companies, Artak Tovmasyan said during the panel session “Digital financial technologies - new opportunities for integrating payment systems of the Eurasian continent in transport logistics” on October 1.

The solutions that all.me provides are blockchain technologies, a payment service that will subsequently be transformed into a full-fledged payment system, he said. The chain: customs — warehouse — company — delivery —payments — duties — VAT, and so on, presents certain difficulties for the organizers and participants of the process, but most importantly, it takes much time.

“That is why I believe that the introduction of new technologies, in particular, payment systems based on blockchain technologies within the EAEU, will help the development of payment services and will reduce the cost of services,” he said.

The Chairman of the Board of Directors of all.me noted that as a rule, the usual cross-border transaction takes place through the SWIFT system, and correspondent banks from both sides participate in it, this results in having at least two intermediaries between them and the recipient.

 “A customer does not need a bank in our system the correspondent of the sender’s bank, the sender’s bank – you do need them. Any participant registered in our network will be able to make a payment within the system within a second. In the future will be able to pay the necessary taxes or other obligatory payments. It takes literally seconds, and logistics can be completed without commissions and without losses,” Tovmasyan said.

He added that many people are afraid of the introduction of certain digital currencies, and the problem is that the Central banks and regulators have not studied the current state of all digital assets.

“What can our system offer to the EAEU countries? Our system could offer creating a Stablecoin, that is, taking the average exchange rate of the currencies of these countries and creating Stablecoin, which would be for them a single payment digital unit within the EAEU,”he said.

Tovmasyan explained that there are three components within the all.me system - meNetwork, meMarket and mePay, which is an innovative payment solution. The all.me ecosystem also has a digital currency - ME Token.

“It turns out that with our ME Token, project participants can make payments not only within the system, but also outside the system, that is, in ordinary life and anywhere in the world. In fact, this is a new calculation tool, and it can be used almost anywhere in the world. The user will also have a chance to instantly and legally sell such a token and pay in fiat currency, for example, through Visa and MasterCard payment cards,” he concluded.

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