TIG significantly reduces the cost of sending small amounts of money, and we make it free wherever possible. Our sweet spot is to serve Members who want to send money at home and abroad up to €200. Reducing costs for small-money transfers using tools from blockchain and social media can save approximately US$16 billion per year (source: World Bank 2019), leaving more money in the pockets of hard-working people who need it the most.
As a decentralised Community with Members across the world, we draw resources from our Members in each country to help deliver a truly global service in the most cost-effective way. We are not an association of largely US-based international corporations like Facebook LIBRA, or a privately-funded company like Telegram GRAM, so we don’t have shareholders who expect dividends.
We have created TIG Tokens and a suite of stablecoin tokens for each fiat currency on the Ethereum blockchain. TIG provides a user-friendly interface for Members to send these tokens to friends and family on social media. We create a unique digital wallet with TIG Tokens in it equal to the value of the amount a Member wants to send, in any currency. There is a small cost to use the Ethereum blockchain (called “gas”) and TIG bears that cost.
We create a unique URL linked securely to each digital wallet, so that the TIG Tokens can be sent on any social media platform. Members send money by securely sending the URL to their friends or family on any social media platform they prefer to use. Our URL link can be securely sent by email, in an SMS/text, on Snapchat, over Skype, on Discord while gaming, in a Reddit chatroom, on a dating app, and any other way you prefer to communicate with your friends and family. It can indeed even be sent on Facebook itself, and on its proprietary platforms like Messenger, Instagram and Whatsapp. It can indeed be sent also on Telegram. When someone receives money from a Member or Guest – by receiving this URL – they simply click on the URL to redeem its value into an Account on TIG. TIG will work on any social media platform, which gives us a competitive advantage over Facebook and Telegram. We expect that Facebook LIBRA will only work on Facebook.