Blockchain has come a long way in its 10-year stint in the world. Since the inception in the year 2009 alongside digital assets, it has been a movement from one impressive formulation to the other. Now, it has been applied in different sectors of the global economy, including but not limited to, finance, supply chain, and logistics.
The financial aspect has been one of the most prominent applications of blockchain technology. That is tenable because it has been able to change the pattern of finance across the globe. The new approach is the connection of the transacting parties in a peer format, where they can then transact without the interference of any other party.
THE PARADIGM SHIFT
When it has to do with blockchain, the consideration is usually on the peer connection of the transacting parties. Nevertheless, the Pngme platform has been able to forge a different milestone in the sphere of transacting financially via blockchain. The platform’s disposition is to create an enabling environment where the users can be able to transact using their mobile phones.
This may perhaps be the first time that a blockchain-based platform would be able to facilitate transactions from their mobile phones. All that would still be facilitated through the centralized and the decentralized financial platform it has forged for the users.
In light of that, we would now look at the functionalities of the various frameworks it uses to expand the borderless payment system it promotes via blockchain.
AUTOMATED CREDIT SCORING
Finance is one of the lifeblood of a business. Limited or insufficient amount of funds also translates to the limitations in the expansion of a company. Therefore, the rule of thumb is to seek additional finance from other sources, such as banks. Those are expected to issue loans to the benefactors. The primary problem in the accessing of these financial instruments (loans and grants) is the non-creditworthiness of the borrowers. Most times, lenders refuse the granting of loans because the borrowers could not meet up with the expected credit scores.
On the contrary, the best thing to do in that instance is to use the Pngme platform. An algorithm automates the structure of its built-in credit scoring system. The algorithm monitors the digital transactions of the users. By collecting the data, the algorithmic credit scoring system can then help the users to build a credible and accurate mobile digital footprint.
MOBILE PAYMENTS
It would be recalled that the overall formulation of the Pngme platform is to facilitate mobile banking payments via blockchain-backed architectures. The mobility of the payment enables the users to remit funds/monies across borders in real-time. Besides, the remission attracts little or no fees and can be completed using either the local/fiat or the digital (crypto) currencies.
DAILY SPENDING
You may want to consider the structure of your expenses all these while. You would discover that over 40% of your costs are uninformed because they're impromptu. You can change all that when using the Pngme mobile payment system.
The structure here is for the users to set up a daily threshold of the amount they’re willing to spend. Once that account spending limit has been expended, then further payments would be stopped.
THE PNGCOIN
Pngme has a dedicated digital asset called the “Pngcoin”. The role of the coin is to aid in the facilitation of every transaction within the Pngme ecosystem.
Users don’t only get the coin by purchasing them. They also get it when they sign up or create an account, and when they refer their friends to join the Pngme ecosystem. You can also earn the Pngcoin when you save money in your Pngme piggy bank account.
CONCLUSION
There may not be a better time to join the decentralized financial ecosystem created by Pngme. So, you can now use the Pngme ecosystem to initiate seamless financial transactions via the mobile-backed mobile finance marketplace.
Undoubted, Pngme has varieties of features designed to make financial transactions feasible for everybody. So, take advantage of the opportunities offered here to make the most out of your business transactions.
USEFUL LINKS
Website: https://pngme.com/
Whitepaper: https://docsend.com/view/x4ts5tm
Telegram: https://t.me/pngmecommunity
Twitter: https://twitter.com/pngmemobile
Facebook profile: https://www.facebook.com/pngme
Author
Bitcointalk username- abake
Bitcointalk profile link- https://bitcointalk.org/index.php?action=profile;u=2023104;sa=summary