A diversion from traditional banking may come for a cost but is certain to yield better returns in the long run. HashCash partners with the endeavor by providing the technology behind the project.
As far back as the Romans go, banks have always played about the hands of a powerful few. A centralized banking system has plagued populations for centuries. Decentralization shows an alternative to bypass the oligopoly of the traditional banking system to put the control back in the hands of the owners of the money.
An endeavor aimed at empowering the masses is a welcome initiative. HashCash Consultants is proud to partner in technology and support a crypto solution for an Egyptian FinTech.
A survey from 2017 reveals that out of the 1.7 billion of the world’s population remain unbanked, Egyptians comprise a staggering 85%. This amounts to a substantial 1.4 million unbanked Egyptians.
HashCash Consultants is to architect a crypto solution that enables such unbanked Egyptians instantly transfer funds to anywhere within the country incurring no transaction fee.
In this project, mobile wallets would be used and kiosks set up across the country whereby people may top up their accounts with cash at the kiosks and transfer the tokens worth the respective amount to the target recipient. The recipient may straightaway use the received coins from their mobile wallet or encash the amount at a post office or designated ATMs for a small fee.
Dedicated teams are to cooperate despite the diverse and defined focus areas: development, distribution, and marketing of the crypto-token.
Founder and CEO of HashCash Consultants, Raj Chowdhury remarks, “ This project aims to accomplish the goals of the crypto-community at large, albeit, in parts. However, we should keep options for future expansion open,”
HashCash has accomplished a number of projects involving cross-border asset movement in the past years. Lately, it has geared up more ambitious projects adding the services of NFT development and CBDC consulting to its already enlisted array of products and services.
“Projects on crypto tokens such as these, resolve a whole lot of problems not just for unbanked individuals but also those looking for instant fund transfer and investment. Despite initial glitches, a diversion into this form of financial solutions is sure to yield greater returns,” adds Chowdhury.
As an advocate and industry educator on blockchain technology and digital assets, HashCash looks forward to contributing to strengthening its innovation capacity through projects such as these.