Nurturing Marginal Populations Through Microfinancing

Marginal populations are people, challenging to reach financially because of the different factors – geographical positions and inadequate facilities. According to Global Findex, a World Bank’s database, in 2014 about 2 billion world’s adults were unbanked due to some of these factors. The necessary facilities and knowledge behind the current banking systems have not been successfully dispensed to marginalized populations. It has led to backtracked development in society.

Why Nurture the marginalized?

Marginalized population are the people who most need financial support. Statistics show that the unbanked population are mostly poor and located far from developed financial infrastructure. Such people especially need the funding, loans, and credits to maintain their livelihood.

Nurturing the marginalized will result in:

  • Better conditions for the unbanked and poor people in marginalized groups
  • Improved economy in the local area
  • Improved possibilities for lenders to broaden their services and reach

You might’ve heard about the project “Millennium Village.” It turned Sauri, a weak and illness-full village into a growing and developing community. The idea came from Economist, Jeffrey Sachs. Regular investments and nurturing of the marginalized village resulted in developing the infrastructure, health system, inhabitants’ confidence, and activities. It showed how important it is to boost their lives for them to enter a global economy and grow together.

Why nurture the marginalized? Because we care for them.

How can we nurture the marginalized through microfinancing?

The best way to nurture the marginalized financially is by introducing them to the benefits of the microfinancing system and how it can be used to grow their wealth. It is through platforms such as AssetStream to bring these financially excluded people to the new global economy.

AssetStream is dedicated to raising financial awareness to this rank of the population through:

  • Consulting services and educational materials (friendly community management and detailed information provided on the website).
  • Digitizing the transaction methods and loans.
  • Connecting them with the platform full of lenders.
  • Protecting the data and storing it safely on blockchain.
  • Minimizing loan management fees, lowering transaction fees and making it affordable for the poorest of all.

The marginalized use traditional mediums like paper-pen driven transactions, which are prone to human errors, require third-party surveillance and consumes more time. AssetStream eliminates or reduces expenses in transactions. Negotiations are secure by design, and thanks to decentralization, there is no need to wait for intermediaries to facilitate transactions.

On AssetStream, marginalized and poor will be able to:

  • Borrow money from individual lenders, local agencies and international lenders with low fees, less waiting time, reliable connections and trustworthy environment.
  • Lend money of their own – they can become lenders on the platform if they have extra money.
Realize new possibilities

By participating in the AssetStream platform, you will not only help yourself secure your future but also help our friends from marginalized communities grow to their full potential. Join AssetStream now and see how you can benefit from blockchain-based microfinancing.

Disclaimer: This is a guest article. The views, opinions and positions expressed within it are those of the author alone and do not represent those of Cryptopolitan. The accuracy, completeness and validity of any statements made within this article are not guaranteed. We accept no liability for any errors, omissions or representations. The copyright of this content belongs to the author and any liability with regards to infringement of intellectual property rights remains with them.

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