What are memos?
When Ravencoin was being conceived, one of the goals was to fix all the problems in BTC+Counterparty/OpenAssets. Among those problems was that the meta-data, which is just information about the token, went missing. Why? It was up to the token issuer to hold it forever on a website. A shortened URL to the website was all that went on-chain. These websites would disappear and all that was left was useless…