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Home Sponsored News

Payment Systems that Work: How We Perceive Microfinancing Tomorrow

Guest User by Guest User
May 7, 2019
in Sponsored News
4 min read
Payment Systems that Work: How We Perceive Microfinancing Tomorrow 1
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Are you having trouble getting a loan through the traditional credit systems? Why is it such a burden for the majority of the unbanked to have access to regular loans?

My vision for the future? Two things: to make credit a human right so that each individual human being will have the opportunity to take loans and implement his or her ideas so that self-exploration becomes possible. And second: that it will lead to a world where nobody has to suffer from poverty – a world completely free from poverty – Muhammad Yunus.

Micro-financing in development

Global internet usage and worldwide acquisition of mobile broadband have provided a prime opportunity for the adoption of micro-credits to the unbanked population. Therefore, it has become a lot easier to access micro-finance on mobile devices with no collateral.

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In today’s markets, micro-financing relies more on P2P lending. A transparent and open marketplace leveraging on blockchain technology will revolutionize the digital-lending industry. Wouldn’t you fancy borrowed money be deposited on your crypto wallet for trading cryptocurrencies or conducting daily financial activities?

Making credit a human right

While getting credit should be a fundamental human right it is unfortunate that most of the third world countries’ population don’t even have a history with banks and micro-financing offices. Countries such as India, Pakistan, China and continents including Southeast Asia and Africa have high percentages of the unbanked population which makes them ripe for microfinancing industries.

For instance, 100 million Pakistanis are unbanked which could explain the massive 3.2 million SMEs in the region, but only 188,000 SME loans recorded in banks. India, on the other hand, has the 7th largest population of the unbanked even though it boasts of the fastest growing internet market. These are but some of the stats that prove the need for revolutionized micro-financing.

Micro-financing promises to change that with the help of innovative technologies. The financial industry started experimenting with Blockchain a long time ago, and we already have cryptocurrencies, SWIFT and SEPA alternatives and other possibilities to explore. It’s time to make credit a human right and distribute loans to everyone in the world.

The tomorrow of micro-financing

Fortunately, in the effort of making credit a human right, we have lots of exciting projects and platforms that have come up to facilitate P2P lending and create the tomorrow of micro-financing. AssetStream is such a project whose main goal is to eliminate intermediaries and makes loans easily accessible at affordable interest rates. Anyone wishing to be a lender can partner with AssetStream through a flawless process outlined by the company.

This platform ensures that borrowers pass through a stringent credit review process, KYC and DUE DILIGENCE procedure thus protecting the lenders. It is an interesting platform with plenty of exciting features based on Blockchain technology.

Tomorrow starts with blockchain technologies and blockchain-based micro-financing platforms.

Blockchain provides a wide array of applications to the micro-financing industry and its adoption by AssetStream is set to give borrowers and lenders unmatched benefits.

  • An extra layer of security and trust for lenders and borrowers
  • Provides a new source of funds(crowdfunding) for small enterprises to propel the world’s economic growth regardless of time and place
  • Since it is based on blockchain tech, AssetStream and similar microcredit platforms can offer transactions in cryptocurrencies
  • Defaulting borrowers will not be able to erase or reverse their credit history since the technology will offer immutable credit data
  • Blockchain supports smart contracts which promote transparency and accountability

AssetStream’s P2P lending platform can offer its users low risks because of the rigorous verification process. Additionally, the platform aims to attract investors through low transaction fees and the AST tokens which are redeemable (after AssetStream is listed on an exchange shortly). It certainly appears to be a great project for lenders and borrowers looking to ripe the benefits of tech-driven micro-financing.

Enroll in tomorrow

Tomorrow’s micro-financing has a special place for you. It’s giving every individual a basic human right to borrow or lend the money, and you can act on it soon. AssetStream’s whitepaper has detailed information about the possibilities, so you know what to do. You can also visit their website to learn more about their services.

Guest User

Guest User

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