The immigration market size is gradually increasing taking into account the figures way back in 2015. The number is bound to increase when proper measures are introduced into the industry to foster safe and sound migration. The industry is faced with several problems today which needs to be addressed once and for all. To touch on a few of them, first, having to migrate from one country to another country comes with a huge cost. Most importantly, migrants have to pay huge sums of money to agencies and intermediaries for their visa application, skill development, training, etc. These are some few of them, however, we will be looking further into the situation as at now.
Migrant is a new blockchain startup that focuses on leveraging new technologies to develop a onetime solution model for the immigration industry. These technologies include Blockchain, Biometric identification, and Machine Learning & AI.
What actually is the problem?
As stated earlier, the industry suffers crucial problems which need to be dealt with comprehensively. Taking into account the high fees migrants will have to incur in order to secure a successful migration is way beyond imagination. This could be as a result of the series of intermediaries involved and non-automation of processes. Each stage will require specific fees and charges until completion. Collectively, this is one of the factors that make migrants opt for other cost-effect mean to flee their homes for another which also comes with consequences.
When migrants go for illegal means to migrate, possible outcomes could be issues of human trafficking or probably fraud & corruption. This is no news, we have heard and seen news concerning maltreatment of immigrants in the host country. Such news are overwhelming and heartbreaking and need to be fought against.
Furthermore, as all parties get their portion of the cake (problems) the host nation is no exception. When there is no proper mechanism to monitor and account for immigrants in a host country, this could serve as an entry point for people with bad intentions. This can also pose as a critical threat to the hosts’ national security. This isn’t a matter to be treated as a joke.
In addition, there is no doubt that payment isn’t an issue in the industry. If there was to be a better payment structure the problems of fraud won’t be a topic we will be talking about. The industry needs a global and secure payment to help in the process.
Migranet‘s Proposed Solution
Migranet will utilize machine learning AI to process immigrants’ application. The client will be assessed to determine the best way out for a successful migration. Migrants will also gain access to accredited immigration practitioners who are going to help in the entire process.
The blockchain provides immutable, transparent and automated records. This will help information of migrant be kept safe and free from alteration. The issues of fraud and corruption will also be addressed by the blockchain. Because of its automated and decentralized attributes, transactions are completed very fast and with no intermediaries leading to a drop in fees going to incurred by migrants.
The blockchain also allows for developers to deploy their own tokens. With that being said, Migrant’s native token “MIG” is a utility token which is deployed on the Ethereum blockchain that conforms to ERC-20 standards. The issued token will ensure a fraud-free, corruption-free, convenient and affordable ways to transact in the ecosystem.
Migranet is embarking on an adventure to make world immigration transparent and better through the blockchain and AI technologies. The team has started and tested their machine learning prototype in the first quarter of 2019. It was reported that over 1300 use cases were applied and the accuracy of the AI was currently at 90%. This is a good start for Migranet and it proves that there is more going to be done in the coming years.
Website — https://migranet.io/
Whitepaper — https://migranet.io/wp-content/uploads/2019/04/Migranet-Whitepaper-v.1.1.10.pdf
Telegram Channel — https://t.me/migranetnews
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=2596274