Is there any reason you wouldn’t want your bank to be right there in your pocket? It’s convenient, compact and practical. We have books, movies, and predictions about futuristic tools like flying cars and the smart world, but we always see them at least 100 years away. That future is closer than we think.
Many traditional bank users come across some problems that make them wish for a more compatible banking system. Issues like unnecessary fees, late customer service, malfunctioning ATMs, security and inaccessibility of financial tools, make you wonder, why do we still support such system?
Dreaming of pocket-size bank
Dreaming of a more efficient payment system began a while ago. Many companies introduced digital payment methods, digital wallets (like PayPal and cryptocurrency wallets) that would’ve changed the issues correlated with the banking system.
They did solve the issue of flexibility, but not everything has evolved, and micro-financing is still undeveloped. A vast majority of the third world population is still unbanked, and unable to access loans, credit cards, and other financial tools.
Pocket size banks often visit the minds of those who are unbanked, have no credit score, travel around the world or merely want to have a compact bank at their hands.
Making these dreams come true
For the last couple of years, various industries have been experimenting with blockchain technologies. Micro-financing sphere is on to a new era of development, according to the project AssetStream – an ecosystem that delivers financial services to borrowers, lenders and loan agencies. It quite definitely describes the idea of a pocket-sized bank that will travel around the world with you.
The system reduces the issues correlated with:
- Unbanked population.
- Extra fees.
- Security and trust issues.
- Communication between borrowers and lenders.
- Doubts, risks, fears, etc.
Where would your pocket-sized bank come in handy
The answer is simple: wherever you go!
Pocket size bank (or a micro-financing platform) describes new technology that can be carried around by your smartphone, laptop, tablet, etc. It can travel around the world with you, wherever you can have access to the internet and a device to use.
AssetStream can deliver financial services to:
- Students studying abroad – studies show that by the end of the year 2018, the total number of foreign students in the US was 1,094,792 (1.5% more than the last year). Most of them depend on student loans and other financial tools. Often, these things stand as issues, because international students don’t have credit records, and they struggle with obtaining loans.
- Travelers – Planning the budget is essential, but not everything goes as planned. We sometimes need more money but obtaining loans is tough without a credit score. AssetStream’s platform can eradicate this problem, and give travelers a chance to borrow money abroad.
- Everyone who wants a compact and practical tool.
Ready to experience?
There’s a promising future for everyone who dreams of a more decentralized and customized banking system. Micro-financing is in the blockchain industry, and if you’d like to learn more, AssetStream’s whitepaper can deliver full information for your inquisitive mind.