How OERO works?
OERO easily change fiat funds into digital stockpiles. OERO time of transaction is minimized less than 24 hours. In future, it is going to be a competitive way of payment among corporations and people.
How it works in the blockchain
OERO is founded on the Ethereum blockchain. It lets you process up 20 transactions at a second. Moreover Oero has a wallet to keep Eur BTC ETH, where you will be able to make a multi-platform transactions.
The flow of funds work description
There are five steps in the OERO life cycle:
Fiat currency is put by the client into a bank account on the OERO INTERNATIONAL OÜ
OERO INTERNATIONAL OÜ creates and credits OERO user account. Now EUR comes into the process. The number of fiat currency, which was put by the client, is equal to the number of OERO issued to the user (i.e. 10k fiat EUR deposited = 10k OERO (EUR))
A deal is made by clients. The client is able to store, transfer and exchange OERO through p2p open source, pseudo anonymous, Ethereumbased platform.
The client puts OERO IN THE OERO INTERNATIONAL OÜ for redemption (transfer) into fiat currency.
OERO INTERNATIONAL OÜ leads the process of OERO tokens demission(OEUR) received from clients for the purpose of Fiat euros withdrawal.
OERO INTERNATIONAL OÜ transfers fiat currency to the bank account of the client.
Clients can also get OERO through exchangers. As soon as OERO goes into process, it can be traded.
The main process, which helps the solvency of the system, includes in that the OERO INTERNATIONAL OÜ is the only party that can release OERO into circulation (create them) or remove them from circulation (destroy them).