This beautiful place in the photo above is called the Philippine Islands and is a paradise and picturesque place, tourists love this nature and attractions. But since they are distant from many developed countries, few people know that their financial system is lagging behind and needs new innovative solutions.
Few people suspect that most of the money transactions they still occur in paper form and almost every time for their commission a person needs to come to the bank branch, spend time, money, in addition to the commission for transfers reach 11%. As you understand, such conditions only aggravate development and intermediaries earn several billion dollars.
About 80 per cent of the financial institutions in these Islands are rural and almost 95 per cent of the population does not have access to electronic payment systems. To eliminate such drawbacks and to help as many people as the Philippines undertakes a project called the Pearl Play.
The team of this project is developing a unique payment system in the national format, which will allow not only local residents, but also tourists to enjoy low-cost financial services at a high level.
PearlPay will be a system of virtual financial money, which makes it possible to access banking services. They plan to release this application for smartphones and carry out such important operations as transfers to another city, purchase and sale of virtual currencies, exchange them, internal transfers.
Such a platform will help many Filipinos who work in other cities or countries to better support their families financially, many entrepreneurs, small and medium-sized businesses will get more options to implement their ideas and cooperate with partners from other countries.
All this will function with the help of three important components:
- Remit - convenient, simple and intuitive application for smartphones, which creates a separate wallet for each user and makes it possible for a short period of time, regardless of the geographical location. It will work on the Komodo blockchain platform. It converts the funds sent to the Pearlplay platform tokens with further conversion to the local currency - Philippine peso.
2)Peso - is a very important product that will help any organization, small and medium-sized businesses become agents for money transfers.
3)Pearl Pay Exchange - this service will help to exchange traditional currencies to cryptocurrency and back
The public token sale will start on September 1, 2018 and will end on October 30, 2018. The team consists of experienced people from different business areas and develop a very useful financial technology that makes it possible to open points in many places with secure banking services and payments.
The team is assisted by projects such as Creo Software Inc, which is an online platform for the presence of business on the Internet and gives the opportunity to accept electronic payments. And the company Matchmove Pte Ltd will provide reliable mobile wallets, allowing to make financial transfers between users, receive bonuses, virtual cards.
More information you can find on these links:
Website https://pearlpay.io/
Whitepaper http://assets.pearlpay.io/pdf/pp-whitepaper.pdf
Telegram group https://t.me/pearlpay
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