Reading through the white paper to get to know more about the CASHAA and what does the company hope to achieve. In at nutshell, they hope to make making easy and available to people globally, most importantly, the transparency of it all. With that transparency, administration fees will be lower and banking services will be made more available to majority of the consumers irregardless of geographical, political or social background.
IN CONVENTIONAL BANKING
The conventional banking is one which is established by a financial institution, the bank. In some countries, such services like banking are not even available, while in others, although banking facilities are available, traditional thinking or even economic background has not allowed people to make use of these facilities fully.
THE VISION
Cashaa believe that there should be an alternative way which can more efficiently let the masses handle their finances, this can be achieved through the blockchain-based payments system. The block chain reduces the amount of administrative level of checks and backend controlling as itself is a self administered public ledger which cannot be altered. With lesser manpower needed to carry out the operations, Cashaa will thus be able to provide a cheaper alternative of banking solutions for the masses. Furthermore, living on block chain and internet means that anyone with an access to the internet will be able to access Cashaa services.
THE 4 FUNDAMENTALS
- Providing services for the Banked and Unbanked: In the modern world, it is common for us to have a bank account or two, but in 3rd world countries, there are still people not being able to access such services. Also known as the unbanked or underbanked, these people will not be able to enjoy the financial products such as depositing money in banks, transfer money overseas etc. It is a big miss out for this group of people, Cashaa will be able to provide for them the chance to use such facilities and improve their lives at a lower cost.
- Facilitating low-cost Currency Exchanges: Fiat currency is still the main mode of exchange in our daily lives. For some countries, to remit money back home, not only incurs high administrative fees but also suffering from the rates of exchange. Cashaa will enable senders to remit money across the border quickly for a nominal sum and also lower the rate of exchange loss due to rates in different currencies.
- Ability to Invest in Global Financial Products: Being able to invest in the global market would mean that you will be able to access more of the financial products globally and diversify your portfolio to achieve higher yields.
- A dedicated team with Innovative capabilities: The founders of Cashaa have deep background and knowledge in the area of crypto currency and block chain technology. Backed by their vision, they aim to bring this technology to the masses with no frills.
With this 4 main functionalities in mind, I am sure Cashaa will change the world of banking and how people bank in the future.
RESOURCE
https://cashaa.com
https: //cashaa.com/pdf/cashaa_wp.pdf
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