Website:https://cashaa.com/ Context: Fatal Flaws in the Existing Interconnected Global Financial System
In what can be seen as an attempt to disclose fatal flaws in the existing interconnected global financial system, the global financial crisis played a vital role in downplaying the global economy growth rate. For all intents and purposes, the global financial crisisdisclosed a dangerous trend of problems such as the following:
Expensive cross border money lending
Ruthlessly complicated and time consuming money lending mechanisms across the international borders
And yet another unmissable dent in the armor of the global financial network is the sheer number of people who are unbanked and underbanked. It is estimated that more than 3.5 billion people are yet to have access to the benefits of the global financial system. While Blockchain technology provides feasible solutions which address the afore-stated problems, a flurry of intricacies such as non-customer centric approach, improper and ineffective utilization of legal implementation along with poor usability are acting as deterrents.
About Cashaa
The proponents of Cashaa happen to be very strong advocates of Blockchain. They are on a mission to tackle the deterrents pertaining to the implementation of Blockchain technology. As an integral part of their endeavors, they have built robust infrastructure which leverages Artificial Intelligence so as to empower the adoption of an array of crypto currencies.
Foundational Principles of Cashaa
Open API Integration: The essence of digital innovation lies in creating an application which integrates biometric technology with artificial intelligence services. Cashaa is doing its best in this regard.
Fostering Investments in Global Economy:Transactions pertaining toglobal economy often involve greater portfolio diversification. The products of Cashaa foster investments in global economy.
Low Cost Currency Exchange: By utilizing the products of Cashaa, beneficiaries can get busy with foreign exchange transactions for just a fraction of the current rates.
Empowering the Unbanked and Underbanked: The transparent and digital offerings of Cashaa are known to empower 1 billion underbanked and 2.5 billion unbanked audiences.
Cashaa Beta Launch
As far as the Beta launch of Cashaa is concerned, nearly 12,770 beta users from a swathe of 141 countries tried the blockchain powered platform. Cashaa’s remittance and trading product resulted in big win-win situations for the community of cryptocurrency traders and money senders. Countries such as India, United Kingdom, Nigeria, Indonesia and Philippines responded positively for the Beta launch.
Cashaa Eco-system
This blockchain powered platform hinges on the underlying five layers manifested in its architecture. The key participants in this framework are:
Traders
Miners
Banks
Payment Providers
Investors
Auditors
Cashaa Application
The Cashaa app will be soon available for zero cost on both Android and iOS platforms. The Cashaa app will be able to:
Perform KYC (Know Your customer) verification for onboarding customers.
Apart from sending and receiving fiat money through multi-currency wallet, the application will be able to deposit the fiat money.
Other services such as trading cypto assets and foreign value based transactions are also in the offing.
