To explore the mysteries of SAN, it can deliver better value

October 02 17:44 2017

SAN is Australian group SANCHAIN’s own uniquely distributed digitally coded currency – a better way to transfer funds. However, it has met with skepticism and doubt like all previous digital currency, which is why we will attempt to demystify with these seven points.

1. An easier way to transfer

SAN was created to increase effective transfers for personal and corporate situations. It will one day become the sole digital currency used within SAN’s ecosystem. It will also be circulated in platforms where other digital currency is present. This is something illegitimate or fake coins cannot compete with.

2. Safer, faster, cheaper, and more reliable

SAN’s distribution account is where records of transfers are kept. It is an open source that’s being monitored by reliable nodes. It also has a global decentralized community to develop and protect the ecosystem. Since the beginning, the SAN community has made sure that the distribution account is flexible in its use and with its decentralized system, lower the risks of system failure to a minimum. This tradition is upheld to this day.

Currently, it takes three to five days for a bank to make an international transfer. It’s also plagued with high middle costs as well as delays and failures. To bypass this, a company can open an oversea deposit account. But, this uses up company funding. SAN corrects this by speeding up the transfer time to four seconds while lowering service fees to a minimum. This allows financial institutions to have liquidity on demand which bypasses the need to pay exchange fees and create deposit accounts. SAN can help financial institutions expand in the new market, lower exchange fees, and offer more effective customer services.

Bitcoin can process seven transactions per second. Each transaction needs two hours to audit. Compare this to Visa’s processing speed of two thousand per second and it’s safe to say that Bitcoin simply can’t satisfied customer demands. SAN’s distribution account can process over one thousand transfers per second and will the future reach and surpass Visa’s processing speed (processes are done in real time).

3. More sustainable development

Bitcoin is a mining digital currency. It simply means it needs large calculation “mining centers” or “proof of work” to continually create the currency. This low efficiency system requires enormous amounts of electrical power. Four American households can run for a day with every bitcoin mined. This is why Bitcoin is said to be “unsustainable for future development”.

SAN is not a mining digital currency. It’s distributed by the SANCHAIN community in one go. Only thirty million coins exists and they already have been created. SANCHAIN is the largest supporter of SAN. The rest is owned by the company and a few individuals. Therefore, SAN bypasses the cost of electrical to create a sustainably developable currency.

4. The bridge between currencies

Bitcoin’s agenda is to one day replace currency distributed by the government. Between SAN and the official currency, there will be a ten-digit code for cross-border transfers – speedy and efficient transfers. For example, if an Australian company needs to make a transfer to their Chinese supplier, they must use the money they set up from a Chinese deposit account in advaned or make an international transfer. Both methods are slow and costly. With SAN, the transfer between companies will be done in real time and on demand. SAN eliminates the overseas deposit account and the international transfer costs. This makes the transfer more effective with much less costs.

5. The future of digital gold

It’s only a matter of time before bit currency becomes the mainstay for banking. We await to see which bit currency will win this race. We believe SAN has what it takes. It has only one purpose – to create a more efficient transfer environment for companies and individuals seeking to make international transfers. Since SANCHAIN’s ecosystem has a broad market range, easy to use, zero inflation, rare, and other characteristics, it has the potential to steadily rise in value over time.

6. Thirty folds in two months

SAN is distributed by the SANCHAIN group all at once – only thirty million are created. The issue price was three RMB. In two months, it skyrocketed to ninety-two RMB, a three thousand percent increase.

7. Easy communication and purchase

SAN will use many social networks and tools. We will organize seminars all over the globe. Platforms such as Facebook, Twitter, telegram, ins, slack, YouTube, Reddit, bitcointalk, and others will aid SAN users to stay connected at all times.

At the same time, the SANCHAIN global community will collaborate with CoinDesk, Babitt, and other Blockchain communities that specialize in media as well as international finance, start-up, tech companies – giving SAN users balanced transaction information.

With SANCHAN community’s global connection and expansion, or the continual improvements made to the SANCHAIN wallet, a user will have a variety of ways to make purchases. Any platform registered with SAN can be used.

SAN Community Wang Hui

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