As we see in the news every day about the payment and banking system, we feel that now a time has come to renew our present payment and banking system. We have to make an efficient alternative to the current financial system which would include the following mentioned things:
- Blockchain can be used which can make this application very simple and easily accessible.
- Regulatory understanding is very important to achieve this goal
- Domain expertise is also required without which new system would suffer
- License from various vendors, regulators, government etc. would also be needed
- C level executive from various financial organization and top educational institutes should be needed to involved regularly
- Consultation from the Blockchain Technology influencers around the world is a must requirement.
- Payment flow designer showed be developed by experience banking process professionals
- The people who are working into the monetary system from decades should also be consulted
- There are various analyst who are working in financial institution they also need to be included
- A great care of the Governance should be taken off
Besides this technology would play a great role in this development. Let's have a look what should be look into that area
- Research and development centres should be focused throughout the development of the project
- Advantage from new and latest technologies should be taken
- Smart contract which are based on artificial intelligence should be built
- Data is an very important part for this solution so data analyst and data modeller should be properly selected
- Experience technical people from naming domain are to be involved so that at can use their rich experience in building future ready global financial banking system
- Blockchain powered platform for payment and money transfer services should be created very strongly thayu can handle this service without any errors
- Bitcoin escrow service should be process effectively
To solve all the above problem there is a company named as Cashaa https://cashaa.com/ who has taken an initiative and they have created their vision on this 4 below principles:
1) Financial Product Powering
- They are planning to provide a transparent digital financial service which can attract around 2.5 billion unbanked populations.
- Not only that it is also planning to include 1 billion underbanked populations to deliver the financial solutions
- This platform would be totally cross-border
2) Low-cost currency exchange
- They would facilitate you the currency exchange by taking a very small fee which is a fraction of current costs
- Traders who will use this technology will provide you with the best foreign exchange rates
3) Global Market Investments
- You can easily able to access the product globally through decentralized financial banking systems
- Very diverse portfolio would be created which would give you very high yield
- Value creation would be very increased
4) Creating Open API for the community
They are planning to create a digital app which would solve the largest financial challenges They are also planning to integrate their SDK and API files with the artificial intelligence which would result into innovation and digital growth.
Useful links
Website | Telegram | Twitter | Facebook | Medium | Whitepaper
ETH address: 0xffcF9e1B95A6539b1d7ea0afD44671a07fC8b8d0
BTT profile: https://bitcointalk.org/index.php?action=profile;u=851405