The remittance industry is an integral part of the developing world and many countries in Asia, Africa and Latin America relies heavily on remittances as part of their GDP. Communities in these countries survive on their money. Based on data from The World Bank, in 2016 alone $ 575 billion USD was remitted globally. This industry is currently dominated by banks as Western Union and MoneyGram which is relatively high rate (See the Fees Table) as well as a margin from the foreign exchange rates which can go as high as 6%. See below for how high fees can go.
Cashaa is a next generation financial depository like the Blockchain technology. Even casha provides full service to its customers by providing consumer services such as instant balancing updates, sending, receiving, paying, borrowing and insuring with our beautiful interface and easy-to-use notifications. The service system of Cashaa is a financial services application based on blockchain technology and artificial intelligence that will empower devices with disadvantaged and tied populations. Thinking of the next generation of Banks is Cashaa which is a blockchain based payment system aimed at lowering the barriers to financial inclusion and providing financial services to buyers and not owning shares.
With increasing globalization, more and more people are working overseas in stronger economies and remitting money to grow bigger and bigger. Notwithstanding, there have also been massive refugees movement in recent years and once they are refused to be reminiscent of their former communities. The World Bank estimates that remittances are expected to reach $ 615 billion by 2018 up from $ 575 billion in 2016.
Cashaa is not just a typical banking application. The cashaa wallet provides a full spectrum of customers' digital-centric finance services such as instant balancing updates, sending, receiving, paying, borrowing and insuring with our beautiful interface and easy-to-use notifications.And Providing financial access to millions of mobile users using alternative credit ratings assisted by data science and machine learning. Cashaa microfinance services enable businesses, individuals, and other parties to have the opportunity to do so within the Platform.
Cashaa is a startup that intends to disrupt this massive industry by developing a banking solution that can provide faster and cheaper remittance than what is provided by the current players. It will leverage on the fast growing liquidity and will offer a flat fee of $ 1 for remittances and wholesale foreign currency exchange rate. It will compete directly with the traditional players who have been charging high fees and speed up the transactions.
Traditional players like Western Union and Moneygram relies on themselves as well as banks to provide the liquidity for remittance to take place. This is the reason for the fees and high margin exchange rates charged by them. But Cashaa will leverage on the liquidity provided by cryptocurrencies traders whole wide to actualize the money transfer. And they will do this in the background seamlessly. The cryptocurrency market is now at $ 175 billion market cap and is expected to reach 1 trillion dollars in the near future, and will provide the liquidity needed for a global remittance industry. This will immediately impact the remittance industry as well as the prices will be lower.
An immediate response by skeptics is why would anyone trust Cashaa to remit their money back home and that most customers will stick to Western Union and Moneygram and the likes. First of all, Cashaa will require the crypto traders to provide escrow for the crypto currencies to be traded; the seller to provide 100% of the coins he is selling while the buyer will provide 10% in the escrow wallet. Moreover what KYC checks which KYC checks which will be compatible with the different guidelines in each country as well as the usage of legally binding smart contracts provided by Agrello Foundation.
Cashaa benefits:
* save a lot of money using Cashaa instead of using a traditional remittance service or bank.
* have a very liquid way to exchange cryptocurrency
* generate substantial returns
Vision
We believe there must be an efficient alternative to existing payment and banking systems. Our blockchain-based payment system aims to lower the barriers of financial inclusion and provide financial services to banks and do not have permits. Our vision is to build the payment infrastructure and banking for the future on AI's powerful blocking infrastructure that can create an outdated legacy system, creating value for the world. Cashaa is based on 4 basic principles:
* Produce financial products for Banked and Unbanked: Cashaa's digital and transparent services not only appeal to the turning population, but also provide financial solutions to 2.5 billion unbanked and 1 billion underbanked globally, creating a unique cross-border. platform that can serve the whole population.
* Facilitate Low-Cost Exchange Currency: Send money across borders quickly, at a small flat fee-a fraction of the current cost, which currently averages 7% 16. The industry-leading technology platform supported by our merchant network can protect your money and offer the best foreign exchange rate (FX) 17 each time you use Cashaa.
* Enabling Investment in a Global Economy: Cashaa's products can enable its users to access the global economy in a decentralized way. They can facilitate the transfer of values across boundaries allowing greater portfolio diversification with higher yields18.
* Dedicated to Communities with Open APIs: Create next-generation DAPTs to solve the world's greatest financial challenges. Our SDK and Open API developers with integrated biometric and integrated intelligence services will accelerate the growth of digital innovation.
For more information you can visit the link below:
Website: https://cashaa.com/
Whitepaper: https://cashaa.com/pdf/Cashaa_WP.pdf
Twitter: https://twitter.com/CashaaLtd
Facebook: https://www.facebook.com/cashaaLtd/
Telegram: https://t.me/CashaaLtd
Author: Peot
https://bitcointalk.org/index.php?action=profile;u=1137199
My ETH Address: 0x4870A7b246B1C2dF4e6749ac352c8f932B21304e
My ETH Address: 0x4870A7b246B1C2dF4e6749ac352c8f932B21304e
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